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 data software technologist Informatica Corporation (UNKNOWN:INFA.DL) plummeted 13% today after its quarterly results and outlook disappointed Wall Street.

So what: Informatica shares have pulled back sharply in 2014 on signs of slowing growth, and today's in-line Q2 results -- EPS of $0.35 on a revenue increase of just 13% -- coupled with downbeat guidance only reinforce that trend. On the bright side, subscription revenue during the quarter spiked 43%, while operating margin expanded 100 basis points year over year to 13%, suggesting Informatica's competitive position remains solid.

Now what: Management now sees Q3 EPS of $0.30-$0.35 on revenue of $245 million-$260 million, versus the consensus of $0.37 and $261 million.

"I would like to recognize the Informatica team for achieving a significant corporate milestone: exceeding $1 billion dollars in revenue over the past 12-month period," Chairman and CEO Sohaib Abbasi said in a statement. "We are positioned for sustained growth with an expansive product portfolio and an innovation plan that are well-aligned with the strategic priorities of our customers."

More importantly, with Informatica still boasting a pristine balance sheet and beaten-down stock price -- now off 30% from its 52-week highs -- the downside seems limited enough to buy into that turnaround talk.