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 Key Energy Services (NYSE:KEG) fell as much as 10% today after the well-servicing company reported earnings.

So what: First-quarter revenue fell a disappointing 17% to $356.1 million, well below the $373 million that analysts expected. That resulted in a net loss of $11.9 million, or $0.08 per share, which was in line with estimates.  

Now what: The good news is that U.S. demand is picking up, which should continue over the long term. But the company's international business is expected to fall another 10% sequentially next quarter, continuing to drag on results. I just don't see the losses as a good sign or a reason to buy the stock today.

Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.