Don't let it get away!
Keep track of the stocks that matter to you.
Help yourself with the Fool's FREE and easy new watchlist service today.
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 CSG Systems (Nasdaq: CSGS ) slumped nearly 17% in early trading and remain down more than 8% as of this writing after badly missing second quarter estimates.
So what: Revenue rose 38% to $181.3 million, though adjusted profit fell 8% to $0.49 a share. Analysts were hoping for EPS of $0.55 on $186.5 million in revenue, according to data compiled by Yahoo! Finance.
Now what: Management blamed the earnings side of the miss on a higher-than-expected tax rate, but the feds only accounted for $0.03 of CSG's $0.06 miss. CEO Peter Kalan also said CSG is undergoing a "transformation" that could prove bumpy over the near team. Are you willing to pay 8 times forward earnings to enjoy the fruits of a potential turnaround? Weigh in using the comments box below.