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 Celestica (Nasdaq: CLS) fell more than 10% before recovering somewhat, after the company reported a slight revenue dip that also fell short of analyst estimates.

So what: The company expects 15% revenue growth next quarter, and it's touting $0.20 to $0.26 in adjusted net earnings per share for the fiscal year. That figure appears to have been adjusted for quarterly stock-based compensation, amortization of intangible estimates, and restructuring charges.

Now what: Even so, the company would trade for about 35 times earnings, so investors are probably expecting greater-than-15% growth from Celestica over the long term. The company's consumer and enterprise communications businesses are growing in the right ballpark (20%-30%), though other divisions aren't exhibiting the same fast rates that the stock price suggests.

Ilan Moscovitz doesn't own shares of any company mentioned. 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.