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 Canadian Solar (NASDAQ:CSIQ) jumped as much as 11.5% today after the solar module maker announced a supply deal.

So what: The company announced a deal to provide 84,480 solar modules to National Renewable Energy that will be used to build four utility-scale projects in North Carolina. The projects are intended to total 25.3 megawatts; at $0.65 per watt this would be about $16.4 million in incremental revenue for Canadian Solar.  

Now what: Chinese solar stocks are up big today so this is something a rising of the tide for the industry. While I like the project, it's business as usual for Canadian Solar, which also builds projects that generate far more revenue than module supply contracts. I don't think this announcement alone is a reason to change your investment thesis, but Canadian Solar remains among the best Chinese solar companies over the long term.