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 Cymer (Nasdaq: CYMI) fell as much as 10% today before recovering for a 4% gain around the time of the closing bell. Call it yet another incidence of Mr. Market shouting at the rain about rubber bands, free-range chickens, and the merits of flossing.

So what: Or maybe investors were just confused by Cymer's second-quarter earnings report. Last night, the chip making equipment supplier said revenue improved 20% to $158.2 million, resulting in $0.89 a share in profit. Analysts had been calling for $157.47 million and $0.71 a share, respectively.

Now what: Alas, a good beat wasn't good enough. Cymer expects just $130 million in third-quarter revenue, well below the $157.9 million Wall Street was hoping for. Does it matter? You tell me. Weigh in on Cymer's business, strategy, and valuation using the comments box below.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

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