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: Natural gas utility Nicor (NYSE: GAS) jumped 10% today after investors found out the company was looking for a buyer.

So what: According to reports, JPMorgan (NYSE: JPM) started contacting buyers more than two months ago, but some bidders are scoffing at the price. Nevertheless, investors bid up shares sharply, causing circuit breakers to halt trading briefly during trading today.

Now what: If the company finds a buyer, investors would get a nice bump, but it doesn't sound like buyers are lining up to pay 15 times 2011 earnings when the S&P 500 Utilities Index trades for around 12 times. I am selling today's rumors and think the bounce could be a nice exit point for this stock. I may be at risk of missing out on a buyout candidate, but I don't get the feeling Nicor will get a price it thinks is acceptable.

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

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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