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 Clearwire (UNKNOWN:UNKNOWN) rose as much as 12% today on rumors of a potential buyout.

So what: An analyst caused a ruckus today by speculating that Sprint (NYSE:S) may make a counteroffer for MetroPCS (NASDAQ:TMUS), the company that agreed to be bought by Sprint rival T-Mobil. Sprint delayed a filing relating to its SoftBank offer, which spurred the rumor, and the secondary option is that Sprint could buy Clearwire instead.

Now what: None of this is anything more than speculation, so I don't see any reason to change your long-term investment thesis today. If, on the other hand, you were looking to sell shares of Clearwire, this is the perfect kind of pop to get out on. Speculation rarely plays out as investors plan, and in this case, it was MetroPCS that the analyst was speculating about -- Clearwire just went along for the ride.

Interested in more info on Clearwire? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium has no positions in the stocks mentioned above. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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