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 Pall (NYSE: PLL) jumped 11% today on buyout speculation.

So what: Credit Suisse analyst Hamzah Mazari started the fervor today by upgrading the stock and speculating that the retirement of Pall's CEO may lead to the company being acquired. Most competitors have been bought out, and an acquisition seems like a natural next step for the company.

Now what: Buying on analyst upgrades or buyout speculation isn't a way this Fool would recommend buying stocks. If a buyout doesn't go through, we could see the stock fall back to pre-speculation levels very quickly, leaving late investors holding the bag. I'm going to stay away from Pall for now until we hear more concrete evidence the company is interested in considering offers.

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