On Thursday, COHERENT (COHR.US) plummeted over 20%, having once accumulated gains of nearly 80% since April, now trading at $89.79. On the news front, the company announced the sale of its aerospace and defense business for $400 million, with proceeds to be used for debt repayment, sparking concerns about business restructuring. Additionally, the company's first quarter fiscal 2026 revenue guidance of $1.46 billion to $1.6 billion, with a midpoint of $1.53 billion, fell short of market expectations of $1.55 billion.