Why II-VI Stock Dropped 10% This Morning
Shares of laser components maker II-VI (NASDAQ: IIVI) got blasted in early Tuesday trading, falling more than 10% before recovering to something more like a 7.5% loss as of 11:10 a.m. EST.
The reason: earnings.
This morning, II-VI reported a "miss" on its fiscal Q1 2020 results, with non-GAAP (adjusted) sales of $0.57 per share coming in short of the $0.60 per share that Wall Street had predicted (although sales of $340.4 million exceeded the consensus estimate).
Source Fool.com
