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 titanium company RTI International Metals (NYSE: RTI) fell as much as 15% today after the company was downgraded by Goldman Sachs.

So what: The Goldman analyst's price target was reduced from $40 to $31 as RTI fell from a neutral rating to sell. Goldman is concerned that RTI won't be able to pass on increasing titanium sponge costs to customers and will feel a margin squeeze as a result.

Now what: Titanium sponge recently hit prices not seen since early 2008, and RTI's pricing power will be tested as a result. Investors might want to take a look at Titanium Metals (NYSE: TIE) to take advantage of this trend for its presence in the raw material market instead of RTI. Goldman's downgrade isn't a reason to sell, but it does point out some of the challenges facing RTI going forward.

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