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 Kindred Healthcare (NYSE: KND) rose more than 12% in early trading on what seems to be increasing interest in old news. Last week, the company announced a $51 million acquisition of Professional Healthcare, an operator of long-term care facilities throughout the Western U.S.

So what: At the time, Kindred said the deal would be paid for via a combination of organic cash flow and the company's revolving credit facility. Management also predicted the deal would be "slightly accretive" to 2012 earnings in a press release announcing the acquisition.

Now what: None of that really explains today's move, I realize, but it is possible that, sensing synergy, Big Money investors are betting that "slightly accretive" is too conservative a descriptor of the deal's likely impact. Do you agree? Disagree? Please weigh in using the comments box below.

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