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 digital-ad-delivery specialist DG FastChannel (Nasdaq: DGIT) fell by as much as 12% in intraday trading for reasons passing understanding.

So what: Seriously, I don't know what to make of the sell-off. Revenue rose by 19% to $64.7 million, while diluted earnings improved 41% to $0.45 a share during the first quarter. Analysts were expecting $63.8 million and $0.41, respectively, according to Yahoo! Finance data.

Now what: Perhaps the recent sell-off in ad-delivery peer Akamai Technologies (Nasdaq: AKAM) has tarnished DG's sheen? Or maybe the prospect of borrowing under a new $150 million credit agreement spooked investors? A planned $50 million stock-repurchase program shouldn't be the issue. Either way, if today's sell-off holds, the stock will end the day priced for less than the long-term earnings growth analysts expect, resulting in a PEG ratio of 0.84. That's enough of a potential discount for me to take a flyer on the stock in my CAPS portfolio.

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