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 household-goods purveyor Blyth (NYSE: BTH) were soaring today, up as much as 24% after the company announced plans to spin off ViSalus, its weight-loss, energy drink, and nutritional supplement business, in an IPO worth $175 million.

So what: Blyth will retain ownership of more than half of ViSalus, which has been growing at a phenomenal pace. Sales over the first six months of the year totaled $327.3 million, up from $59.3 million the year before, while adjusted earnings nearly quadrupled to $36.9 million. For a company with a market cap near $700 million, those numbers are huge. Customer growth has been in line with sales for the direct-to-consumer subsidiary, and ViSalus has upped its sales and marketing team by four times in the past year.

Now what: Considering the jump in share price equated to about a $175 million increase in market cap, the same amount as the expected cash infusion, this gain seems fully deserved. If ViSalus can keep up even a fraction of the growth it's accomplished thus far, shareholders may be in store for one sweet ride.

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