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: World Wrestling Entertainment (NYSE: WWE) was body-slammed today after the company released disappointing earnings guidance. Shares fell 14.8%.

So what: The wrestling powerhouse said earnings for the fourth quarter would be $0.08 to $0.10, well below analyst's expectations of $0.16 per share. There wasn't any explanation for the disappointing guidance, but we will find out more on Feb. 10 when the company releases earnings.

Now what: Without an explanation from management, I don't see any good reason to buy today's dip. Earnings misses aren't an unusual occurrence for WWE, something it has done two of the last four quarters, so maybe we shouldn't be terribly surprised by this announcement. For now, I'll take a seat on the sidelines and watch the market wrestle out what this means until earnings come out.

Interested in more info on World Wrestling Entertainment? 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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