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 ad management company Digital Generation (UNKNOWN:DGIT.DL) soared 33% today after agreeing to sell its television business to rival Extreme Reach for $485 million.

So what: DG plans to use the proceeds to pay off all outstanding debt and fund the majority of a cash distribution to shareholders of at least $3 per share, giving investors plenty of good feelings over its financial position going forward. Additionally, the move will allow DG to focus exclusively on its more-attractive online business, prompting analysts to significantly raise their growth estimates as well.

Now what: The transaction is expected to close during the first quarter of 2014, pending DG stockholder approval and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. "I am excited about the opportunity to build upon the past few quarters' strong momentum," said President and CEO Neil Nguyen. "Our global footprint, market leading campaign management platform and analytics capabilities position us as a major player in the future of digital advertising." More important, with the stock still off its 52-week highs even with today's big surge, there might be some room left to buy into those growth prospects.