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 Turkish wireless giant Turkcell (NYSE: TKC) were dialed down by investors today, shedding as much as 12% after the company announced fourth-quarter results.

So what: Based on the share action, you might guess that earnings weren't what investors had expected … and you'd be right. For the quarter, the company earned 368 million Turkish lira, which was below the 437 million that analysts were looking for. Revenue for the quarter clocked in at 2.2 billion Turkish lira, down 3.3% from last year.

Now what: It's been a tough environment for this Motley Fool Income Investor pick as regulatory changes and aggressive competition have pressured the company. Investors may also be particularly skittish right now thanks to the recent upheaval in Egypt and unrest in Libya. After a less-than-wonderful 2010, Turkcell needs to prove itself to investors in the upcoming year. Giving investors good reason to hang around are the stock's forward price-to-earnings multiple below 10 and its 3.7% dividend yield.

Want to keep up to date on Turkcell? Add it to your watchlist.

Turkcell Iletisim Hizmetleri AS is a Motley Fool Income Investor selection. 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.                                                                                       

Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.