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: Flowserve (NYSE: FLS) shares fell 12% intraday after the company released earnings.

So What: Earnings actually came in at $1.84 per share above estimates of $1.81 but revenue was down 8% from last year to $971.7 million. This was lower than estimates of $994.7 million and has helped push the stock lower today.

Now What: Flowserve has been on quite a run since hitting lows in July and investors may have been expecting a little too much this quarter. An earnings beat and forecast in line with expectations is usually positive but much more was expected. Today's dip is a nice buying opportunity for long-term investors looking for an opportunity to jump into this stock given the solid earnings and guidance for the rest of the year.

Interested in more info on Flowserve? Add it to your watchlist here by clicking here.

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.

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