On July 29, Coherent declined 5.24% overnight, trading at $230.57/share with turnover of $3.72 million. The stock continued to fall amid a broad selloff across the optical communications sector triggered by Corning's disappointing Q3 guidance.

Corning reported Q2 core revenue of $4.74 billion (up 17% YoY) and core EPS of $0.78 (up 30% YoY), both exceeding expectations. However, its Q3 core sales guidance of $4.9-5.0 billion disappointed the market, with the upper end merely matching consensus and the midpoint of $4.95 billion slightly below estimates. The weak outlook triggered a chain reaction across the sector, with Corning falling nearly 19%, AXT declining over 15%, and AAOI dropping nearly 14% during the regular session.

Coherent had already been under sustained selling pressure since the Philadelphia Semiconductor Index plunged over 4% on July 25. A rebound attempt on July 27 failed as shares reversed from $293 pre-market to close down over 3%. The company is scheduled to report fiscal Q4 earnings on August 12, with consensus EPS of $1.43, and the approaching earnings window continues to intensify positioning activity.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)