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 casino operator Caesars Entertainment (NASDAQ:CZR) jumped 10% today, when the company announced a new CFO.

So what: The company appointed Donald Colvin, an executive from Nevada utility NV Energy, as its new CFO and executive vice president. Seriously, that's all that happened.

Now what: There's no reason to buy Caesars on this news, unless Colvin has a way to rid the company of $20 billion of debt. What may be lost in the jump later in the day is that Caesars hit an all-time low early in the day today, showing how little confidence investors have in the long-term trajectory of the company. I'm definitely not a buyer here, and certainly don't think a new CFO changes the investment thesis in Caesars.

Interested in more info on Caesars Entertainment? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium has no positions in the stocks mentioned above. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw. 

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