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: Spirit AeroSystems (NYSE: SPR) shares tumbled as much as 11% in trading today after the company released earnings.

So what: Adjusted earnings per share of $0.39 missed estimates of $0.44, and the company cut its full-year forecast. Boeing's (NYSE: BA) 787 Dreamliner delays have hurt results, and management said further delays would affect whether the project is profitable for Spirit.

Now what: Pinning hopes on the perpetually delayed Dreamliner doesn't seem to be working out too well as the company takes charges related to contract estimates. But Spirit still operates in a growing commercial airline space and is operating a profitable business. I'm willing to take a chance on this stock because of a forward P/E of less than 10  and a buy opportunity from investors spooked by an earnings miss.

Interested in more info on Spirit Aerosystems? 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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