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 business software specialist TIBCO Software (NASDAQ: TIBX) plunged 16% today after its quarterly results and guidance missed Wall Street expectations.

So what: TIBCO's first-quarter adjusted EPS of $0.18 met estimates, but a miss on the top line -- revenue of $237.8 million versus Wall Street's view of $242.3 million -- coupled with downbeat guidance for the current quarter, reinforces concerns over slowing growth. Non-GAAP operating margins even declined 200 basis points over the year-ago period, suggesting that its competitive environment is only getting more intense.

Now what: Management now sees second-quarter EPS of $0.17-$0.19 on revenue of $242 million-$252 million, well below the consensus of $0.26 and $264.8 million. "Our competitive differentiation remains strong, and we are well positioned to benefit from the current trends driving enterprise IT spending, such as 'big data,' especially with our event-driven platform approach to integrating and analyzing data in real-time," Chairman and CEO Vivek Ranadive reassured investors. With the stock flirting with its 52-week lows, and trading at a forward P/E of 14, now might even be an opportune time to buy into that bull talk.

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