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 SUPERVALU (NYSE:SVU) climbed as high as 12% today on a report that private equity firm Cerberus is still willing to pursue options for the embattled grocery store chain.

So what: The Wall Street Journal, citing a person familiar with the matter, reported that Cerberus remains interested in buying SUPERVALU entirely or just purchasing its Albertsons stores, rekindling optimism for a deal that seemed to be dead. In fact, the story comes just days after Bloomberg, citing unnamed sources, maintained that Cerberus' talks with SUPERVALU had stalled due to financing difficulties.

Now what: If the parties can't reach an agreement, SUPERVALU still has options as other firms like KKR are believed to be quite interested in its assets. Of course, if you're not willing own the stock as a stand-alone investment, it's probably best to watch the process unfold from a distance. After all, if SUPERVALU management decides not to sell itself altogether, being stuck with its $6 billion debt load and rapidly declining margins isn't exactly an ideal position to be in.

Interested in more info on SUPERVALU? Add it to your watchlist.

Fool contributor Brian Pacampara has no positions in the stocks mentioned above. The Motley Fool owns shares of Supervalu. Motley Fool newsletter services recommend Supervalu. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.