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 computer-peripherals maker Logitech International (Nasdaq: LOGI) sank 10% on Thursday after cutting its full-year sales and earnings outlook.

So what: Today's announcement represents Logitech's third successive profit warning, giving investors plenty of reason to question management's forecast-meeting ability. In fact, the stock is hitting a new 52-week low on the news and is down about 60% year to date.

Now what: Today's plunge might be worth buying into. "I am very, very sorry for this, but I believe [this warning] will be the last," Interim CEO Guerrino De Luca said. "The situation will improve going forward." While Apple's (Nasdaq: AAPL) iPad continues to threaten Logitech's core business, De Luca's "promise" that the bad news is over, coupled with a now single-digit forward P/E, suggests that the stock might finally be ready to turn.

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