Why Colfax Stock Got Crushed This Morning
Shares of industrial equipment-maker Colfax Corporation (NYSE: CFX) fell as much is 21% in early trading Monday. Colfax reported its Q3 2017 earnings Monday morning, wherein pro forma profits of $0.42 per share net Wall Street's expectations, but sales of $844.5 million fell far short of analyst predictions for a $913 million quarter.
After rebounding somewhat, Colfax stock is still down 13.7% as of 11:15 a.m. EST.
Colfax met Wall Street's earnings estimates, so why is its stock down? Image source: Getty Images.
Source: Fool.com
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