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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