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: Electronic manufacturing service company Plexus (Nasdaq: PLXS) fell 10% today after the company gave weak second- and third-quarter outlook.

So what: In the first quarter, the company beat expectations slightly with earnings per share of $0.61 and revenue of $565.8 million. But the market wasn't focused on the first quarter and instead saw second-quarter revenue of $540 million to $570 million and adjusted earnings per share of $0.53 to $0.58, a little lower than it would like.

Now what: Two programs with Coca-Cola have seen a "significant" delay, and investors had counted on that bump to boost results. With shares in free fall, you might think the world is ending, but profit did grow 40% from last year, and the stock is only trading at a forward price/earnings ratio of 10.0. The next two quarters may not be as good as expected, but this Fool likes the value shares are giving right now.

Interested in more info on Plexus? Add it to your watchlist.

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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