Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of AsiaInfo-Linkage (Nasdaq: ASIA), which supplies software to telecom carriers, rose more than 10% in early trading on less than half the average daily volume. The stock closed up 8%.

So what: No particular news drove the gain. Instead, the rally seems to be a response to sharp selling in the wake of good but not spectacular fourth-quarter revenue guidance. (Q3 results also beat estimates.)

Now what: Seeing value hunters move in makes sense. As of this writing, the stock trades for about half the long-term earnings growth rate analysts expect. Do you think they’re right? Would you buy shares of AsiaInfo-Linkage at current prices? Please weigh in using the comments box below.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn’t own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

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