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: Olin Corp. (NYSE: OLN) shares fell 10% in early trading Tuesday after a disappointing earnings report.

So what: Olin reported net income of $31.8 million or $0.40 per share, down from $0.50 per share a year ago. Sales did increase in the third quarter to $432.8 million from $397.0 million.

Now what: Revenue came in below expectations, and Olin's estimate of zero to $0.05 per share of net income in the fourth quarter was below analysts' estimate of $0.18. Weak sales and lower estimates leave this Fool on the sidelines for now. Earnings were not strong enough for me to think this is a short-term buying opportunity.  

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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 Motley Fool CAPS picks at TMFFlushDraw.

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