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 voice specialist Nuance Communications (NASDAQ:NUAN) got destroyed today, down by as much as 19%, after the company reported earnings with a worse-than-expected outlook.

So what: Adjusted revenue in the quarter was $492.4 million, resulting in adjusted earnings per share of $0.35. Those figures were just about what analysts were expecting, but the bottom line was a penny per share shy. That slight miss wasn't the real cause for concern, though.

Now what: Guidance was the real culprit. Nuance reduced its outlook for full-year adjusted earnings per share, and now expects the bottom line to come in at $1.76 to $1.87, down from its prior range of $1.84 to $1.94 per share, and also lower than the consensus estimate of $1.89 per share. Analysts are now concerned that the company may miss on its revenue target for the year. Don't miss fellow Fool Alex Planes' take here.

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