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: For the second time in less than two weeks, Mattson Technology (Nasdaq: MTSN) shares got an overnight haircut of more than 10%.

So what: Last time around, Mattson's stock plunged on no discernible news. This time, the culprit was a disappointing earnings report with strong sales but a wider net loss than expected.

Now what: Like industry peer FSI International (Nasdaq: FSII), which took an even deeper dive yesterday on similar news, Mattson is a small company with bumpy and lumpy results from one quarter to the next. Moreover, the earnings shortfall can be almost entirely explained by the euro strengthening versus the U.S. dollar during the quarter. If you see strength in the computer memory market, where Mattson finds most of its customers, this stock gives you a different angle of attack in case you don't like Micron Technology (NYSE: MU) for some strange reason.

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Fool contributor Anders Bylund holds no position in any of the companies discussed here. 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 is investors writing for investors.