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 research group Pharmaceutical Product Development (Nasdaq: PPDI) jumped as much as 18% this morning on potential merger talks.

So what: A Wall Street Journal report that the company is exploring selling itself shook shares early this morning. The article cited the infamous "people familiar with the matter," so any pop in shares is really speculation at this point.

Now what: Contract research firms have grown in the medical field as companies try to control research costs, and deals in the sector aren't unusual. Private-equity-owned competitor PRA International has already put itself up for sale, so two of the largest players in this space may be available. Share activity died off as the day went on, hopefully as investors realized that buying into speculation is a risky bet before we hear management say it is really looking to sell the company.

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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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