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 Peet's Coffee & Tea (Nasdaq: PEET) jumped as much as 15% in early trading on a day of speculation.

So what: Word on the street is that sometime soon Peet's will announce a partnership with Motley Fool Rule Breakers favorite Green Mountain Coffee Roasters (Nasdaq: GMCR). Janney Capital analyst Mitchell Pinheiro started the buzz this morning when he raised Peet's to a buy rating and said the partnership may be announced by March 6 -- this Sunday.

Now what: Peet's was passed over by Starbucks (Nasdaq: SBUX) for a partnership, but if this rumor becomes reality, it would be a big boost for Peet's. Rumors are risky to buy on, so I would prefer to wait until we hear solid word on a partnership as opposed to believing this analyst. I'll keep my eyes on news from Peet's, but I'm not buying today; it's a risk this Fool isn't willing to take.

Interested in more info on Peet's Coffee & Tea? 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.

Peet's Coffee & Tea is a Motley Fool Big Short short-sale selection. Green Mountain Coffee Roasters is a Motley Fool Rule Breakers selection. Starbucks is a Motley Fool Stock Advisor pick. Motley Fool Alpha has opened a short position on Green Mountain Coffee Roasters. Motley Fool Options has recommended a buy puts position on Green Mountain Coffee Roasters. The Fool owns shares of Starbucks. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.