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 oilfield service company Profire Energy, (NASDAQ:PFIE) fell as much as 14% Friday after pricing a public share offering.

So what: Profire priced a 6 million share offering of common stock, of which 4.5 million shares will be sold by the company and 1.5 million will be sold by members of management. The shares were priced at $4 per share, 21% below Thursday's closing price. 

Now what: Shares are still trading above the offer price, which isn't surprising given the massive discount shares are going for. Profire intends to use the money raised to expand its sales force and may also acquire new companies. The key long-term is whether management can turn the extra cash into sales and earnings growth otherwise it'll just be dilution for current shareholders.