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 solar-module encapsulant manufacturer STR Holdings (Nasdaq: STRI) were covered in clouds today as investors knocked them down as much as 19% in intraday trading on heavier-than-average volume.

So what: We're not quite at the beginning of second-quarter earnings season yet, but we're definitely at the point where companies are starting to warn investors if things aren't looking so hot. Unfortunately for STR shareholders, yesterday STR chose to do exactly that. Thanks to excess inventory and capacity in the industry, the company's second-quarter results aren't going to be quite what it had hoped. At the midpoint, sales are now anticipated to be $100 million, which is down from $107 million, while non-GAAP earnings per share may clock in at $0.31 (as opposed to $0.40). On average, Wall Street analysts were looking for EPS of $0.40 on sales of $105 million.

Now what: I'm a fan of solar power in general, but I've been a good bit less fanatic about solar-related stocks. Why? As an emerging technology, there is a long way for the industry to go and in the process some leaders will become laggards, upstarts will speed ahead, and lots of mid-pack runners will fade into the background.

That said, looking specifically at STR's situation, the lowered guidance is certainly a disappointment, but it seems like a near-term setback that could be cured as supply is absorbed and demand regains its footing.

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Fool contributor Matt Koppenheffer does not have a 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 Facebook. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.