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 thesis.

What: Shares of SodaStream International (SODA) were popping today, gaining as much as 14%, and finishing up 7% in response to the partnership formed between Green Mountain Coffee Roasters and Coca-Cola.

So what: SodaStream's shares were actually down 7% after hours yesterday as Coke said it would make its brand portfolio available in pods for Green Mountain's soon-to-come Keurig Cold brewing system. The partnership poses an obvious threat to SodaStream, which has no such big-name brand lending it flavors, but the stock jumped today on speculation that the Green Mountain/Coke deal could prompt Pepsi to make an offer to buy SodaStream.

Now what: Rumors swirled last June that Pepsi was interested in purchasing the at-home soda maker, leading SodaStream's shares to spike. The beverage giant quashed those rumors, but it's easy to see why they've resurfaced after today's news. If at-home brewing is the next front in the cola wars, then Pepsi and SodaStream look like natural allies against Green Mountain and Coke, and SodaStream shares have been beaten down recently after a disastrous fourth-quarter update. If Pepsi wants a piece of the action, now seems like a great time to get in.