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 specialty materials maker Rogers Corp. (NYSE:ROG) fell as much as 13% in early trading after the company updated first-quarter guidance.

So what: The company now expects sales from continuing operations to be around $126 million, compared to guidance from two months ago of $129 million-$133 million. On the bottom line, non-GAAP earnings per share are expected to be $0.44, below the previous estimate of $0.57-$0.61.  

Now what: It's never a good sign when a company lowers guidance, particularly so close to when the original guidance numbers were given. Management said lower than expected demand for tablet devices and lower military spending affected sales. The company will report earnings at the end of April -- more detail will be given then. Keep in mind that revenue is growing slightly and the stock trades at just 10 times trailing earnings, so this isn't a disaster of a quarter given the value built into the stock.

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Motley Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.