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 clinical laboratory service Bio-Reference Laboratories (Nasdaq: BRLI) slid as much as 10% earlier in the trading session following the release of its third-quarter results.

So what: For the quarter, Bio-Reference recorded a 25% increase in profits to $0.45 on a 16% rise in revenue to $172.3 million. Although EPS was $0.02 above expectations, total sales came in $1.4 million shy of Wall Street's expectations. Furthermore, Bio-Reference's guidance of 15% revenue growth and "around 20%" net income growth failed to impress investors.

Now what: Is anyone really that surprised? In mid-July, Quest Diagnostics (NYSE: DGX) cut its full-year revenue forecast to just 1%-2% growth from previous forecasts of 2%-2.5% growth, while Laboratory Corporation of America (NYSE: LH) fell just shy of both EPS and revenue projections. All three are suffering from a weak spending environment and global uncertainties. Bio-Reference is definitely the most robust growth story of these three, but until the global picture improves, don't expect big moves higher out of this sector.

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