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 voice specialist Nuance Communications (NASDAQ:NUAN) got destroyed today, down by as much as 19%, after the company reported earnings with a worse-than-expected outlook.

So what: Adjusted revenue in the quarter was $492.4 million, resulting in adjusted earnings per share of $0.35. Those figures were just about what analysts were expecting, but the bottom line was a penny per share shy. That slight miss wasn't the real cause for concern, though.

Now what: Guidance was the real culprit. Nuance reduced its outlook for full-year adjusted earnings per share, and now expects the bottom line to come in at $1.76 to $1.87, down from its prior range of $1.84 to $1.94 per share, and also lower than the consensus estimate of $1.89 per share. Analysts are now concerned that the company may miss on its revenue target for the year. Don't miss fellow Fool Alex Planes' take here.

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Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool recommends Nuance Communications. The Motley Fool owns shares of Nuance Communications. 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.