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Coherent Inc. (COHR) Tumbled To A 9-Month Low After Q1 Report

Coherent Inc. (COHR) reported first quarter EPS of $3.54 after the bell Wednesday, compared to $2.57 in the previous year. The consensus estimate was for EPS of $3.52. Revenues rose 38.0% to $477.6 million from $346.1 million last year.

Coherent gapped open sharply lower Thursday and declined during the first hour of trade, before settling into a range. The stock closed down by 43.25 at $205.89 with volume at a 6-month high. Coherent has been pulling back from the highs of the year for over 2 weeks and sank to a 9-month low.

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