Why Johnson Controls International Stock Dropped 10% in July

Why Johnson Controls International Stock Dropped 10% in July

Shares of building-technologies provider Johnson Controls (NYSE: JCI) lost 10.2% of their value in July.

I use the term "July" loosely. The truth is that almost all of Johnson Controls' losses took place in the time between the end of trading on the New York Stock Exchange (NYSE) on July 26 and the morning of July 27, when Johnson Controls announced its fiscal Q3 2017 earnings.

Johnson Controls reported earning $0.59 per diluted share for fiscal Q3. Pro forma, the company's earnings were $0.71, which met analysts' similarly pro forma earnings target for the company. Revenues were, likewise, more or less in line with expectations, with Johnson Control booking $7.68 billion in revenues during the quarter, just a skosh below expectations  of $7.7 billion. Why did the stock fall if Johnson basically met expectations?

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Source: Fool.com