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 Teradata (NYSE:TDC) have dropped today by as much as 13% after the company reported third-quarter results.

So what: Revenue in the third quarter fell short of analyst expectations at just $647 million. On a constant currency basis, revenue increased 10%. The results were somewhat mixed though, since the bottom line came out better than expected with non-GAAP earnings per share of $0.69.

Now what: CEO Mike Koehler said it was a tough macro environment, but that Teradata's three core markets of data warehousing, big data analytics, and integrated marketing management are as strong as ever. However, Teradata now expects full-year 2012 revenue growth to be at the low end of its guidance, which calls for 12% to 14% growth. Earnings per share should be in the middle of the outlook, which is expected between $2.34 and $2.44.

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Evan Niu, CFA, has no positions in the stocks mentioned above. The Motley Fool owns shares of Teradata. Motley Fool newsletter services recommend Teradata. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.