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: Investors of pet food and canned-fruit specialist Del Monte Foods
So what: One source close to the situation said that the two sides are batting around a price of $18.50 a share, which represents an 18% premium to yesterday's close. The pet food industry, where Del Monte derives about half of its business, has been in consolidation mode, with consumer-goods giants Nestle and Procter & Gamble
Now what: When you make a quick double-digit gain on takeover rumors, taking at least some money off the table seems prudent. Including today's surge, shares of Del Monte are up more than 30% over the past three months alone. With quality rivals Dole
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