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 specialty drugmaker Jazz Pharmaceuticals (Nasdaq: JAZZ) climbed 11% Friday after its 2012 guidance topped Wall Street expectations.

So what: Jazz's outlook was so strong -- management sees full-year adjusted EPS of $4.00 to $4.15 versus the average analyst estimate of $3.37 -- that investors have no choice but to up their growth estimates. The shares had lost some of their sizzle after announcing its purchase of Azur Pharma in September, but signs that the deal will be a lot more accretive than initially thought, coupled with 40% expected growth from its narcolepsy drug Xylem, is giving Mr. Market a lot to be excited about.

Now what: Don't expect the operating momentum to slow anytime soon. "In 2012, we look forward to continued growth of our existing products and expansion of our product portfolio by combining with Azur Pharma," CEO Bruce Cozadd said. Of course, with the stock now up a whopping 130% over the past year and once again approaching its 52-week highs, much of that optimism already seems baked into the price.

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