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 home-entertainment technologist Rovi (Nasdaq: ROVI) plummeted 35% Wednesday after its quarterly results and outlook disappointed Wall Street.

So what: While Rovi's third-quarter adjusted earnings managed to top estimates, a miss on the top line -- $196.5 million versus the consensus of $197.9 million -- suggests that growth continues to slow at a very worrisome rate. In fact, the shares are hitting a new 52-week low on the news and have fallen more than 50% year-to-date.

Now what: Don't expect much in the short term. Management expects 2011 results to come in near the low end of its August forecast and sees 2012 revenue growth in the mid-to-high single digits, versus Wall Street's forecast of 15.5%. Of course, with tech titans like Apple (Nasdaq: AAPL) and Microsoft (Nasdaq: MSFT) to deal with, Rovi isn't exactly an ideal long-term opportunity, either.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.