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 Kraton Performance Polymers (NYSE:KRA) fell 14% today after the company announced a profit delay for an acquisition.

So what: Kraton is buying LCY Chemical's SBY business, which the company expected to add to earnings in the first year after the merger is complete. But oversupply of co-polymers in China and lower demand for pavement and shoes has hit to earnings. It's now expected to be 2016 before the acquisition adds to earnings.  

Now what: Management said the acquisition is now expected to close in the fourth quarter of this year, after which it would dilute earnings by $0.19 in 2015 and add about $0.29 in 2016. The purchase price can't be adjusted due to SBC's deterioration, and Kraton's board reportedly doesn't want to pay the $25 million termination fee. This is bad news for earnings in the short term, but over the long term the deal will still add to earnings, which is a good deal for investors buying at a discount today.