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: Research In Motion (Nasdaq: RIMM) dropped 11% in intraday trading today after the company issued disappointing guidance for the current quarter.

So what: Management expects EPS of $1.47 to $1.55 in the current quarter, compared to the consensus estimate of $1.64 and year-earlier EPS of $1.38. For the coming four quarters (fiscal 2012) it is forecasting EPS in excess of $7.50, well above the consensus estimate of $6.81.  

Now what: During the current quarter the company plans to step up spending to launch its PlayBook tablet and expects a mix shift to lower-priced handsets. Although fourth fiscal-quarter EPS of $1.78 beat the consensus estimate of $1.76 and was up an impressive 40% from the year-ago quarter on record handset shipments, RIM is under severe pressure from Apple's (Nasdaq: AAPL) iPhone and iPad and smartphones and tablets based on Google's (Nasdaq: GOOG) Android operating system. The need to boost spending for the PlayBook launch exacerbates fears about further market share losses and creates doubt around fiscal 2012 guidance.

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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.