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 Chinese financial software company Longtop Financial Technologies (NYSE: LFT) leapt as much as 14% on heavier-than-average trading volume.

So what: Longtop announced that its board of directors approved a share buyback program. The authorization would let the company buy back up to $50 million in shares over the next two years. Investors tend to get excited about share buyback programs because, by reducing the company's share count, they increase profit per share.

Now what: This could be seen as a good start, but considering the amount of cash flow that Longtop's business generates and the huge amount of cash on its balance sheet, the company has room to spend a lot more than $50 million. Of course, more may be on the way after this first $50 million is put to work. Looking ahead, investors will want to keep an eye on the results of the buyback program -- while a reduction in share count can be a good thing, it's only a good use of shareholder capital if the repurchases are done at favorable prices.

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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.