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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 Kronos Worldwide, (NYSE: KRO ) were up as much as 11% after its majority owner died.
So what: Harold Simmons, who owns over 80% of Kronos Worldwide through multiple entities passed away over the weekend. Simmons was a controversial figure who battled with regulators and was a political powerhouse, sometimes overshadowing his businesses.
Now what: Kronos may have been a leader of consolidation in titanium oxide under Simmons but now the company could be sold or look for other strategic options. At the very least, there will be a new leader at the helm and for today investors think that will unlock more value than Simmons could. Time will tell if that's the case.
One great stock for 2014
The new year is almost here and there's still time to find great stocks to rebalance your portfolio. The Motley Fool's chief investment officer has selected his No. 1 stock for 2014, and it's one of those stocks that could make you rich. You can find out which stock it is in the special free report: "The Motley Fool's Top Stock for 2014." Just click here to access the report and find out the name of this under-the-radar company.