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 WMS Industries
So what: Thanks in large part to falling demand for slot machines, WMS said it now expects to earn a third-quarter profit of $0.40-$0.42 per share on revenue of $191 million-$193 million, versus the average analyst estimate of a $0.51 per share profit on top line of $213.5 million. With the shares hitting a new 52-week low on the warning, it's obvious that investors aren't holding out hope for a quick turnaround.
Now what: I'd have to agree with Mr. Market on this one. Just last week, rival Bally Technologies
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