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 Aegean Marine Petroleum Network (NYSE:ANW) dropped 10% today after reporting earnings.

So what: Revenue dropped 10.4% to $1.69 billion and net income doubled to $5.5 million, or $0.12 per share. Revenue was ahead of estimates but on an adjusted basis earnings per share of $0.13 fell short of estimates by $0.04.  

Now what: Demand for the company's services is still lagging because of challenges in the shipping market. Those trends don't appear to be easing any time soon; I see the improved margins as a positive I don't like the top-line trends. I don't think this is a discount to buy on and would wait until macro conditions improve.

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