How Coherent Shares Rose 13.6% Last Month
Shares of laser technology expert Coherent (NASDAQ: COHR) gained 13.6% in May 2020, according to data from S&P Global Market Intelligence. The company largely saw an amplified version of the broader market's upward trend last month, boosted by strong reports from competitors. A mixed earnings report near the end of May barely moved the needle for Coherent's investors.
Coherent's plunge from January to March was much steeper than the broader market's, but the company proved the critics wrong with a reasonable second-quarter report. Earnings fell 62% year over year to $0.61 per share, and revenue dropped 21% to $293 million. The analyst consensus called for EPS near $0.52 on sales in the vicinity of $306 million.
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Source Fool.com
