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's happening: Shares of Open Text Corp. (NASDAQ:OTEX) were down 12% as of 11:40 a.m. Thursday after the enterprise information management software company offered weaker-than-expected fiscal fourth-quarter guidance in an operational update.

Why it's happening: Note the update comes on the heels of OpenText's disappointing fiscal third-quarter results a few weeks ago. According to OpenText CEO Mark Barrenechea, the company is still experiencing significant foreign exchange headwinds due to the strong dollar. As a result -- and while OpenText's existing annual targets for the full fiscal year 2015 remain intact -- it now expects fiscal fourth-quarter revenue of $440 million to $455 million, and adjusted earnings per diluted share of $0.64 to $0.72. Analysts, on average, were anticipating current-quarter revenue and earnings of $487.8 million and $0.89 per share, respectively.

OpenText also announced it is initiating a restructuring program to allow it to simplify its business structure which, in turn, will enable it to more effectively focus on its Cloud-based strategy and drive additional operational efficiencies. As part of that restructuring, OpenText is also forming a new "Global Technical Services" organization. And those efficiencies are expected to generate around $50 million in annualized operating expense savings, which will be accretive to fiscal year 2016 earnings with negligible impact to revenue. As a result of the restructuring, OpenText will also take a pre-tax restructuring charge of roughly $25 million in the first quarter of fiscal 2016, as well as total cash payments in the same amount and a 5% reduction in its work force. 

Once again, keep in mind foreign exchange headwinds are a temporary problem, and aren't a sign of deeper issues in OpenText's business. And while the reduction in work force certainly isn't ideal, OpenText should emerge a stronger business for it -- and one better positioned to grab share in the fast-growing cloud solutions market. In the end, though our stock market might not enjoy the uncertainty of the restructuring and "disappointing" guidance, I think OpenText's long-term story remains firmly intact.