Why Shares of II-VI Slumped Today [The Motley Fool]
Coherent Corp. 6.00% Series A Mandatory Convertible Preferred Stock (IIVI)
Last coherent corp. 6.00% series a mandatory convertible preferred stock earnings: 2/10 04:05 pm
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Source: The Motley Fool
The laser company was swept up in a torrent of Apple-related negativity. Timothy Green ( TMFBargainBin ) Nov 12, 2018 at 4:21PM What happened Shares of II-VI ( NASDAQ:IIVI ) , a provider of optoelectronic components and engineered materials, were down 12.9% at 3:30 p.m. EST on Monday. There was no company-specific news, but a guidance cut from Apple supplier Lumentum ( NASDAQ:LITE ) and negative analyst commentary around iPhone shipments led investors to sell off the stock. So what Lumentum generates 30% of its annual revenue from Apple, so its bleak guidance cut on Monday gave investors some information on expected iPhone shipments. Lumentum now expects to produce second-quarter revenue between $335 million and $355 million, down from a previous range of $405 million to $430 million. The company also slashed its earnings-per-share gui
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