Seeing lots of ranking changes today across a small network after staying fairly static through all of Panda and Penguin. The sites that are affected negatively are pretty much exclusively the smaller longtail-targetted ones. Terms which have held Top 3 rankings for months and months have dropped several places.
Initially I thought it was keyword related but a couple of big sites in the network that are keyword-focused domains have had positive changes. One "brand" (it's not a keyword and 35% of previous searches are on the brand name - 200+ pages) has lost some significant longtail rankings too.
Something happened today, that's for sure.