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: Shares of financial services specialist Broadridge Financial (NYSE: BR) traded down as much as 10% today after the company reported disappointing fiscal second-quarter earnings.

So what: Showing off the stability of its core business, Broadridge boasted that the company continues to retain 99% of its customers and is collecting a dependable, recurring revenue stream from that side of the business. However, the company's event-driven business, which is linked to mutual fund proxy campaigns, has been falling flat lately. That provided a big drag for Broadridge's results, leaving second-quarter revenue and earnings per share at $442 million and $0.08, respectively. Both were significantly below Wall Street's expectations.

Now what: Making matters worse, the company said that it doesn't see a near-term rebound in the event-driven business and that, along with a $0.05 per-share one-time expense, caused management to lower its full-year outlook from a range of $1.55 to $1.65 to a range of $1.30 to $1.40. Broadridge's CEO stressed that the event-driven business is a cyclical one that can be difficult to predict, but that the company hasn't seen a secular change that would change the dynamics of the business. With strong cash-flow and a decent dividend, Broadridge could be a stock to keep an eye on -- particularly if concerns over the event-driven business continue to weigh on the stock.