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 Stanley Black & Decker (NYSE:SWK) fell as much as 16% today after the company announced earnings and full-year guidance.

So what: For the third quarter, revenue jumped 10% to $2.76 billion and adjusted earnings rose from $0.69 per share a year ago to $1.39. Analysts anticipated $2.81 billion in revenue and $1.38 per share in earnings, so results were basically in line with expectations.  

What sent shares screeching lower today was 2013 earnings guidance of $4.90 to $5.00 per share from a previous estimate of $5.40 to $5.65. The results were blamed on a slow pace of improvement in the security division along with lost sales during the government shutdown.

Now what: While the market clearly viewed this as a terrible earnings report, I think some perspective is needed. The government shutdown's impact on sales will be temporary, so that shouldn't be a major concern. On the security division side, management said margin goals are taking longer than anticipated but isn't backing off them long-term.

The dip today provides a nice buying opportunity for investors willing to look past short-term challenges for long-term gains. Margins will pick up and the company has paid a dividend for 137 straight years, which I don't think comes into question with bad guidance in one quarter.

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.