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: Garmin (Nasdaq: GRMN) shares fell 10% early today after the company released earnings that missed expectations.

So What: Revenue fell 11% to $692 million and adjusted earnings per share of $0.70 missed estimates of $0.75. Garmin is also shutting down its smartphone business, which couldn't keep up with Apple's (Nasdaq: AAPL) iPhone or devices using Google's (Nasdaq: GOOG) Android operating system.

Now What: A 54% increase in Asian sales couldn't offset an 18% decline in the U.S. market. Even though Garmin doesn't appear terribly expensive at a price-to-earnings ratio around 10, declining sales and profitability leave me unimpressed. I just can't hop aboard a tech company without any creative juice that's lost its competitive edge so quickly.

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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 CAPS picks at TMFFlushDraw.

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