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 industrial battery maker EnerSys (NYSE: ENS) sank 13% on Thursday after its first-quarter results and guidance disappointed Wall Street.

So what: While the company's quarterly profit surged 46%, a slowdown in the rate of growth is what has Mr. Market worried. In addition to coming in a penny shy of analyst's quarterly EPS estimates, management also issued disappointing second-quarter guidance, forcing investors to seriously question their growth expectations.

Now what: Expect the short-term pressure to continue. Due to higher commodity prices and costs, as well as the continued turbulence in the global economy, EnerSys now sees adjusted second-quarter earnings of just $0.53 to $0.57 per share, versus the average analyst consensus of $0.71 per share. Of course, with the shares now down more than 40% over the past month alone and sporting a forward P/E around 6, much of the downside risk could already be priced in.

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