Splice Here has a handy tutorial on how to use the Stabilize effect in Media Composer to take the shake and jitters out of footage. Unlike FCP’s SmoothCam filter, the Media Composer stabilization analysis happens in realtime and is very similar in function to the tracker in After Effects. You have a tracker target that you manually select a track location with, and the search area is configurable if you run into issues with the shot’s movement. Great tutorial!