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 solar manufacturer Hanwha SolarOne Co Ltd (NASDAQ:HQCL) dropped as much as 18% in early trading after the company reported earnings.

So what: Third quarter revenue was down 4% sequentially to $185.5 million on the back of a 1.1% drop in shipments. Gross margin actually fell slightly to 5.1%, which resulted in a net loss of $75.2 million, or $0.89 per share.  

Now what: At a time when most solar companies are improving both the top and bottom line, Hanwha SolarOne is going backwards. This is despite 46% of shipments going to Japan, a very high margin market for the solar industry. I'd stay away from this stock right now and look at profitable solar companies right now. Even Canadian Solar or Trina Solar in China provide a better option for investors.