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 aerospace company Spirit AeroSystems Holdings (NYSE:SPR) sank 17% today after its quarterly results and outlook missed Wall Street expectations.

So what: The stock has soared over the past year on a string of better than expected quarters, but today's Q4 results -- loss of $586.9 million on a revenue increase of 4.8% -- coupled with downbeat guidance is forcing Mr. Market to sober up. Management cited charges related to the 787 program, as well as the establishment of a valuation allowance against deferred tax assets, for the big loss, triggering plenty of concern among investors over its bottom-line growth going forward.

Now what: Management now sees 2014 full-year EPS of $2.50-$2.65 on revenue of $6.5 billion-$6.7 billion, versus the consensus of $2.68 and $6.61 billion. "We're better positioned to move forward as we ramp up alongside our customers to all-time historical highs in commercial aircraft production rates," President and CEO Larry Lawson reassured investors. "We are entering 2014 with a strong cost discipline and relentless focus on performance and accountability that should begin to yield consistent cash generation." More important, with the stock now off 25% its 52-week highs and trading at a forward P/E of 10, Mr. Market might be offering a good chance to buy into that bullishness.

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Brian Pacampara has no position in any stocks mentioned. The Motley Fool recommends Spirit AeroSystems Holdings. 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.

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