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 Tronox Limited (NYSE:TROX) are being pushed nearly 8% higher today after The Wall Street Journal leaked that a possible acquisition would be announced as soon as Tuesday.

TROX Chart
TROX data by YCharts.

So what: While Tronox won't comment until a deal is officially announced, the WSJ reported, citing people familiar with the situation, that the company is nearing a deal to buy a soda-ash business from rival chemical company FMC Corp. (NYSE:FMC) in a deal rumored to be valued at more than $1.5 billion.

This is a move that makes sense for Tronox, a global leader in the production and marketing of mineral sands, titanium dioxide pigment and electrolytic products, but investors would be wise to temper expectations as demand for soda-ash has been weak do to a slower global economic recovery.

Now what: This isn't a move that investors should be too surprised by, considering CEO Tom Casey stated the company's goal to double profits by 2017 through value-creating acquisitions, as well as organic growth and operational excellence.

Despite Tronox's top-line revenue declining through the first three quarters, the company believes it can deliver consistently higher adjusted EBITDA in 2015. While the company has flown under the radar of most Wall Street analysts, Brokerage firm B. Riley recently upgraded Tronox from a Neutral rating to Buy and increased his price target from $25 to $29. Tronox isn't a stock that interests me personally, but its adjusted earnings are improving and the stock price has a potential to move higher as it continues to make acquisitions that make sense for its business.