Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
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 building material maker Texas Industries, (NYSE: TXI ) jumped 13% today after reports emerged that the company is up for sale.
So what: Bloomberg initially reported that the company is looking for potential buyers. It is controlled by Southeastern Asset Management and NNS Holding, the investment vehicle for Egyption billionaire Nassef Sawiris and both have been looking to unload shares for some time.
Now what: No one is commenting on the record, so this is a completely rumor driven move. It's not out of the question to see competitors interested in buying the company but jumping in now would be speculating on a deal and a price. Today's no reason to change your investment thesis and I think buying the rumor is dangerous. If you own shares a buyout is upside, but not the only reason to own shares.
A better way to invest
Buying on rumor or speculating on buyouts is tough, but owning stocks forever is easy and profitable. That's why our CEO, legendary investor Tom Gardner, has permitted us to reveal The Motley Fool's 3 Stocks to Own Forever. These picks are free today! Just click here now to uncover the three companies we love.