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 wheel manufacturer Superior Industries (NYSE: SUP) got dinged up today, losing as much as 12% in intraday trading after the company reported first-quarter results.

So what: For the first quarter, Superior saw its revenue climb 26% to $190 million, while earnings per share fell 12% year over year to $0.29. However, the year-over-year earnings comparison was thrown off by a $4 million tax benefit in the first quarter of 2010. Operating earnings jumped 59% from last year. Both revenue and earnings per share fell noticeably short of Wall Street's targets, though, and investors rarely get excited about that.

Now what: Like most of the rest of the auto industry, Superior is coming off of a rough ride during the recession, which included losses in both 2008 and 2009. The company appears to be bouncing back nicely, though, and doesn't have the balance-sheet concerns that crushed GM (NYSE: GM) and Chrysler -- in fact, Superior is debt-free. With a forward price-to-earnings ratio of around 11, Superior could be worth a closer look in the wake of today's selloff.

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Fool contributor Matt Koppenheffer has no financial interest in 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.