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 Advance Auto Parts (NYSE: AAP) need repairs a day after the company released earnings falling 10%.

So what: Results on the top and bottom line both fell below expectations in the first quarter. Revenue was up 4% to $1.9 billion and earnings per share were $1.35. Analysts had expected revenue to be $1.92 billion and earnings per share of $1.38.

Now what: The earnings miss was pretty minor, so a 10% move seems a little excessive today. Management still expects to hit full-year targets even after missing this first quarter so optimism internally is high. Of course Advance Auto Parts has had a history of beating estimates recently, so investors may just be spoiled by the company's performance.

Interested in more info on Advance Auto Parts? Add it to your watchlist.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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