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 athletic apparel retailer Foot Locker (NYSE: FL) jumped as much as 11.5% on fairly heavy volume today, led by a huge volume spike right at the opening bell.

So what: It's a double dose of good news: The NBA will actually play a season this year after coming to terms with its players' union, and Foot Locker's Black Friday sales came in strong. Analysts at UBS upgraded the stock to a buy with a $42 price target in light of this double whammy.

Now what: The stock is not far away from five-year highs, yet remains a far deeper value than rivals Dick's Sporting Goods (NYSE: DKS) and Hibbett Sports (Nasdaq: HIBB). It's on par with Finish Line (Nasdaq: FINL), but Foot Locker pays a far more generous dividend than any of these competitors. Income hunters and value hounds alike would be wise to give this sneaker specialist a closer look.

Interested in more info about Foot Locker? Click here to add it to My Watchlist.