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: Energizer Holdings (NYSE: ENR) shares fell as much as 15% in trading Tuesday after the company announced disappointing earnings.

So what: Sales fell 1.9% to $1.06 billion, and earnings per share of $0.81 missed Wall Street's expectations of $0.95 by a wide margin. The company said higher zinc and steel costs would also hurt 2011 results.

Now what: The Energizer Bunny may have run out of juice today, but with brands like Playtex, Schick, and of course Energizer, this Motley Fool Inside Value pick still has a strong brand position. Today's drop provides a nice buying opportunity for this consumer goods stock, despite raw material costs. An earnings miss is never good, but it can provide an opportunity for those looking for a solid long-term investment.

Interested in more info on Energizer Holdings? Add it to your watchlist 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 Motley Fool CAPS picks at TMFFlushDraw.

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