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: Krispy Kreme Doughnuts (NYSE: KKD) popped 12% in intraday trading today as investors feasted on a tasty plan to drive higher, more consistent profits.

So what: The company used its annual shareholders' meeting to present a plan to boost revenue and profits. During the next three quarters, Krispy Kreme expects to open 45 shops, launch three signature coffee blends, and expand retail distribution of its baked goods. Management hopes the new coffee offerings will bring more customers into their shops.  

Now what: The company just completed its first profitable year since 2004. In the most recent quarter, revenue jumped up 14% and EPS more than doubled as the company cut its operating and interest expenses. At a P/E ratio of 37 times, investors appear to be expecting the new plan to add more icing to the profit doughnut.

Interested in more info on Krispy Kreme? Add it to your watchlist by clicking here.

Fool contributor Cindy Johnson does not own shares of any company named above. 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.