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.
Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.