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 milk magnate Dean Foods (NYSE: DF) gained more than 11% in intraday trading after a wave of news out of the company.

So what: It was a news-heavy day for Dean Foods, as the company announced a senior debt offering, an antitrust lawsuit settlement, and a new chief accounting officer. And just for good measure, the company also affirmed its fourth-quarter outlook. Dean will be offering $400 million in new senior notes, and while we don't know what they'll cost the company yet, the offering, along with looser debt covenants, inspired Standard & Poor's to raise its rating outlook on Dean from negative to stable. Meanwhile, the company may be close to clearing up the overhang from a class-action antitrust lawsuit in Vermont, as it agreed to pay $30 million to settle.

Now what: Investors at Dean Foods needed some good news in a bad way, because the company has been facing  pricing pressures from stores such as Wal-Mart and Kroger (NYSE: KR) while its commodity costs continue to rise. The stock, meanwhile, has been socked, and has grabbed the dubious title of "worst performing S&P stock this year." Tough industry dynamics and a heavy debt load are definitely working against the company, but shares are looking cheap, and often the best time to invest is when the clouds are gathering. My fellow Fool -- and Rising Star analyst -- Jim Mueller has this stock on his watchlist, and if it gets much cheaper, I won't be able to help but put it on mine.

Want to keep up-to-date on Dean Foods? Add it to your watchlist.