Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

After a report this morning indicated strongly that China's economy is slowing down, the major U.S. indexes are all heading south. As of 1 p.m. EST, the Dow Jones Industrial Average (DJINDICES:^DJI) is down by 185 points, or 1.13%, the S&P 500 is off by 1.1%, and the Nasdaq is lower by 0.92%.

Things are so bleak at this time that even IBM (NYSE:IBM) shares are up just 0.06% after the company announced it would sell its low-end server unit to the Chinese company Lenovo for $2.3 billion. The deal requires IBM to continue developing its Windows and Linux software for the departed x86 server business. The move is seen as boon for IBM that allows the company more time to develop its high-end servers and software, which is where Big Blue makes its money. Furthermore, many believe this will help get IBM back on track to growing its business.  

Outside the Dow a major big winner is Netflix (NASDAQ:NFLX), as shares are up nearly 16% at this time. The move comes after the company reported quarterly earnings of $0.79 per share, which was nearly a sixfold increase, while analysts were only expecting $0.65. The video streamer posted $1.18 billion in revenue, while analysts were looking for $1.17 billion. There was plenty of other good news: The stock was  upgraded from fair value to a buy at CRT Capital; subscriber growth during the quarter came in at 2.3 million American households and 1.7 million international customers, which gave the company more than 44 million subscribers at the end of 2013; and the company believes it will add more customers in the first quarter of 2014 than it did during the same time frame in 2013.  

Another big earnings report today came from eBay (NASDAQ:EBAY)., which is up 0.13% The Internet auction house reported revenue of $4.53 billion, slightly below the expected $4.56 billion and on the low end of its own guidance range of $4.5 billion-$4.6 billion in sales. The company reported profit of $0.81 per share, higher than the $0.80 most analysts expected. While these results were good, most investors seemed to care more about the fact that activist investor Carl Icahn opened a position in the company and was pushing for PayPal to be split off. Many investors had made this argument in the past, but eBay has yet to pull the trigger. Shares of eBay are flat at this time.

Don't gamble with your future