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What: Shares of Dana Holding (NYSE:DAN) were left holding the bag today, falling as much as 16% after the company delivered a poor third-quarter earnings report.

So what: The auto-parts supplier missed on both the top and bottom lines, posting adjusted earnings of $0.47 per share versus estimates at $0.54 per share, while sales fell 2.7% to $1.67 billion, below the consensus at $1.78 billion. Management said the decline in sales was in part due to currency translation, a divestiture, and the end of a light vehicle program. It also cited "challenging demand in a number of end markets we serve around the world" in the construction mining and industries.

Now what: Adding insult to injury, Dana lowered its guidance for the year to sales of $6.7 billion and earnings per share of $1.76, below the analyst consensus of $7 billion in sales and EPS of $1.89. Cummins, one of the world's largest makers of truck engines, also cut its forecast in its report as global demand seems to have slowed, even as the general auto industry has outperformed this year. These problems for Dana are likely temporary as there seem to be no structural issues with the company. Demand in the construction and mining industries should eventually bounce back.

Fool contributor Jeremy Bowman has no position in any stocks mentioned. The Motley Fool recommends Cummins. The Motley Fool owns shares of Cummins. 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.