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 bookseller Barnes & Noble (NYSE: BKS) were bound in red today as they slipped as much as 15% in intraday trading after the company announced fiscal third-quarter results.

So what: In the expectations game, B&N was a loser this quarter. Though earnings per share of $1.00 were within the company's guidance range of $0.90 to $1.20, it was well short of the $1.13 that Wall Street was looking for. Revenue of $2.3 billion was also slightly softer than expected. But the disappointments only started there.

The company also announced that it's suspending its dividend, a move that investors can't be happy about, particularly as more investors are looking to dividends to fuel their portfolios. And we all know how much investors like guidance, right? Well, B&N isn't giving any. Thanks to the Borders (NYSE: BGP) bankruptcy, B&N decided that it'd hold off issuing guidance for now.

Now what: I'm getting a picture of Ice-T running madly through the woods, trying his best to survive in the classic B-movie Surviving the Game. You're obviously rooting for him, but the odds are heavily stacked against him. For B&N, it's got its Nook e-book reader and, though still unprofitable, B&N's website is at least growing quickly. But (Nasdaq: AMZN) will continue to bear down on the bookseller, both on the book front and the e-reader front -- where Kindle dominates with a 67% market share. And it will increasingly have to battle Apple (Nasdaq: AAPL) as well, as the iPad is a competitor to the Nook and the company's e-bookstore has already grabbed a 9% share of the e-book market.

In the end, Ice-T made it. You kind of knew that would happen because it's Ice-T and he's generally a tough so-and-so. But this isn't a movie, and though I'm not calling for the disappearance of B&N, I'm also not betting on a shining future.

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Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool’s disclosure policy prefers dividends over a sharp stick in the eye.