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 Emdeon (NYSE: EM) plunged 10% today on high volume, after it reported third-quarter earnings results.

So what: The health-care payment company swung to a gain on cost-cutting, earning $0.04 per share on $246 million in revenue. The company's services compete with McKesson's (NYSE: MCK) RelayHealth and UnitedHealth Group's (NYSE: UNH) Igenix and OptumHealth.

Now what: Emdeon's results were nearly identical to what analysts had expected. While the company predicted 2010 earnings would come in on the low end of guidance ($0.90 to $0.94 on $1 billion in revenue), this is in line with what analysts were expecting anyway.

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