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: McClatchy (NYSE: MNI) shares fell 10% today on lower third-quarter revenue and earnings. 

So What: The newspaper publisher reported earnings of $0.14 per share, down from $0.28 per share a year ago. Revenue was also down 6% to $327.7 million, as advertising revenue fell in each month of the quarter. 

Now What: The newspaper business continues to struggle, and McClatchy has been no exception. Adjusted earnings of $0.12 per share actually beat analysts' estimate of $0.11, but that wasn’t enough to excite shares. This Fool never likes jumping on a sinking ship, and the newspaper business hasn’t shown any signs of turning around in recent years. I’m not buying this dip.

Interested in more info on McClatchy? Add it to your watchlist.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool has a disclosure policy.