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 communications chip designer NXP Semiconductors (Nasdaq: NXPI) jumped sky-high in early action today, reaching as high as 10.7% above Wednesday's closing prices before falling back to more modest gains.

So what: There is no fresh news specific to NXP that would support this move, much like there was no particular reason for a similar jump yesterday. The stock is a relatively fresh-faced market player, and many investors don't know much about it. The mere fact that it keeps showing up on largest-gains lists these days may be enough to feed further gains.

Now what: The former semiconductor division of Royal Philips Electronics (NYSE: PHG) is a hot topic, not only because of its stock-market moves, but also because it specializes in near field communications (NFC). Supported by new products and roadmap promises from global giants including Nokia (NYSE: NOK) and Google (Nasdaq: GOOG), NFC could be the technology that starts replacing credit cards and enriches our mobile lives in new ways, starting in 2011. NXP clearly has a promising market in its hand -- just watch out for irrational exuberance about the stock, and new competition in the NFC space from established chip giants.

Interested in more info on NXP Semiconductors? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. Google is a Motley Fool Inside Value pick and a Motley Fool Rule Breakers choice, and The Fool owns shares of Google. Try any of our Foolish newsletter services free for 30 days. We  Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.