Huron Consulting Group (HURN) saw its stock plummet by 5.01% in pre-market trading on Friday, despite announcing the acquisition of Treliant, a financial sector advisory firm. The sharp decline comes as a surprise given the company's recent positive developments, leaving investors questioning the market's reaction.

Late Thursday, Huron reported better-than-expected Q2 adjusted earnings of $1.89 per diluted share, surpassing analysts' estimates of $1.79. Revenue before reimbursable expenses came in at $402.5 million, slightly below the FactSet consensus of $402.6 million. Additionally, the company raised its 2025 guidance, now expecting adjusted earnings between $7.30 and $7.70 per share on revenue of $1.64 billion to $1.68 billion, up from previous estimates.

The stock's significant drop, despite these seemingly positive announcements, suggests investors may have concerns about the undisclosed terms of the Treliant acquisition or potential integration costs. Moreover, the slight revenue miss in Q2 and the possibility that the raised guidance didn't meet market expectations could be contributing factors to the negative sentiment. As the market digests these developments, investors will be closely watching for further details on the acquisition and its potential impact on Huron's future performance.