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 Team, (NYSE: TISI) were falling apart today, dropping as much as 18% after the maintenance provider cut its fiscal 2013 earnings guidance.

So what: Team cut its EPS outlook for the year from $1.90-$2.05, to $1.70-$1.85, and also revised its revenue guidance for the fiscal year ending May 31, 2013 down to $705 to $720 million. Analysts had projected EPS of $2.03 on sales of $732.5 million. Management said the revision was due to weak results in its third quarter, particularly poor sales from Canada and Europe. For the current quarter, management now expects break-even earnings on revenue of $150 million.

Now what: Team also curtailed its fourth-quarter revenue guidance by $10 million, but expressed long-term confidence in its business prospects. We'll learn more about Team's future when it reports earnings on April 2. If the current update turns out to be just a short-term concern, there could be significant upside potential. Check back after earnings are in. You can stay on top of Team by adding it to your Watchlist here.