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 Celestica (Nasdaq: CLS ) fell more than 10% before recovering somewhat, after the company reported a slight revenue dip that also fell short of analyst estimates.
So what: The company expects 15% revenue growth next quarter, and it's touting $0.20 to $0.26 in adjusted net earnings per share for the fiscal year. That figure appears to have been adjusted for quarterly stock-based compensation, amortization of intangible estimates, and restructuring charges.
Now what: Even so, the company would trade for about 35 times earnings, so investors are probably expecting greater-than-15% growth from Celestica over the long term. The company's consumer and enterprise communications businesses are growing in the right ballpark (20%-30%), though other divisions aren't exhibiting the same fast rates that the stock price suggests.