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 chemical maker FutureFuel (NYSE:FF) fell 10% today after the company reported earnings.

So what: Revenues fell 17% to $74.6 million in the quarter and net income fell 42% to $6.2 million, or $0.15 per share. Analysts expected revenue to be $82.2 million and earnings of $0.19 per share, so results were well short of what the market had already priced into the stock.  

Now what: The loss of the $1 federal blenders tax credit and a decline in demand for mandated usage were big impacts on the company. The company pointed to improving conditions near the end of the year, but I'd be cautious jumping in now. Subsidized businesses aren't popular in Washington right now, and a decline in revenue isn't a good sign for the company.

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