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 memory-chip maker Micron Technology (Nasdaq: MU) soared by as much as 25.2% in heavy late-day action.

So what: Micron scored a huge legal victory today as a San Francisco jury ruled that Rambus (Nasdaq: RMBS) didn't deserve damages for alleged price-fixing actions by Micron and Hynix. Had the ruling gone the other way, some $12 billion in damages could have been in play so this is a game-changing decision for everyone involved.

Now what: The alleged antitrust actions took place more than 10 years ago and involved intricate technical discussions. It's not surprising that the jury took more than eight weeks to reach this verdict. Now Micron shareholders -- myself included -- get to enjoy this sugar rush until Rambus decides whether to file an appeal. Micron shares still trade at less than book value, but taking some profits at this point would still make sense if you see appeals coming down the pipe. For an illustration of why, take a look at the similarly lawsuit-afflicted TiVo (Nasdaq: TIVO) stock and note how quickly prices tend to dive again when appeals and retrials are announced.

Interested in more info about Micron Technology? Add it to My Watchlist.

Fool contributor Anders Bylund owns shares of TiVo and Micron but holds no other position in any of the companies mentioned. We Fools don't all hold the same opinion, but we all believe that considering a diverse range of insights makes us better investors. Check out Anders' holdings and bio, or follow him on Twitter and Google+. We have a disclosure policy.