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 Liz Claiborne (NYSE: LIZ) have soared by as much as 30% today on reports that the company has considered going private.

So what: The company has allegedly had talks with various private equity firms with an asking price as high as $20 per share, which is almost double yesterday's closing price of $11.83 and still a healthy premium to even today's high. KKR (NYSE: KKR) is rumored to be among the firms still potentially interested.

Now what: Sources say that Liz Claiborne isn't currently interested in a sale or any type of deal, despite discussions over the past several months. The company is looking to continue with its restructuring efforts instead. A spokeswoman said, "We don't comment on highly speculative rumors -- especially involving the world of private equity. However, the performance of our stock and even our bonds suggest we have a committed investor base who believes in our strategy and our brands."

Interested in more info on Liz Claiborne? Add it to your watchlist by clicking here.