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 Brocade Communications Systems (Nasdaq: BRCD) rose more than 12% in the opening moments of today's market action after reporting fiscal fourth-quarter results that soundly beat estimates.

So what: Revenue edged up slightly to $550 million from $549 million in last year's Q4. Adjusted profits improved 23% to $0.16 a share. Analysts were expecting $527.4 million and $0.10 a share, respectively, according to data compiled by Yahoo! Finance.

Now what: Brocade, which competes with Cisco (Nasdaq: CSCO) and Juniper Networks (Nasdaq: JNPR) in data networking gear, has lagged both the S&P 500 and the Dow Jones Industrial Average (INDEX: ^DJI) so far this year. Could last night's beat ignite a holiday rally? I'm asking you. Would you buy shares of Brocade Communications 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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