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 PVR Partners (UNKNOWN:PVR.DL) fell as much as 13% today after releasing earnings.

So what: Fourth-quarter revenue fell 6.3% to $269.6 million, below the $280 million estimate from analysts. Loss per share was $0.30, a surprise since analysts were expecting earnings of $0.17 per share.  

Now what: The only good news is that the distribution was increased to $0.55 per share, which is what most investors will look at. The bad news is that earnings haven't kept up with the distribution, bringing payouts for the future into question. I don't think the future is strong for coal demand or prices, so there will continue to be pressure on earnings, which means I'm not a buyer today.

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