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 auto retailer Pep Boys (NYSE: PBY) jumped 17% today on news the company may be looking for a buyer.

So what: Bloomberg is reporting that Bank of America (NYSE: BAC) has been hired to advise the company on a potential sale. The company has gone through this before with Goldman Sachs and again last year with no luck.

Now what: It doesn't sound like private equity buyers are going to be willing to jump in, and competitors don't have much reason to buy out the much smaller company. Right now, Advance Auto Parts (NYSE: AAP) and AutoZone (NYSE: AZO) are both trading with lower earnings multiples and would be a better investment for the long-term investor than speculating on a buyout. Today's bump is a very speculative move and unless Pep Boys finds a buyer soon, shares will be back where they started.

Interested in more info on Pep Boys? 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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