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 Halliburton
So what: A presidential commission found that similar cement had failed Halliburton's own test. The company seems to have mentioned that to BP, but apparently one or both companies failed to do something about it before the well exploded, killing 11 and wrecking the Gulf of Mexico.
Now what: It's not clear yet whether the huge stock slide – which knocked about $2.5 billion off Halliburton's market capitalization -- is warranted. That would largely depend on if the company has been exposed to new liabilities as a result. Oh, Halliburton.