US Stock Market Move | Coherent (COHR.US) has plummeted over 20% since April after a nearly 80% cumulative increase.

On Thursday, Coherent (COHR.US) plunged more than 20%, after soaring 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 the proceeds used to repay debt, sparking concerns about business adjustments. In addition, the company's revenue guidance for the first quarter of fiscal 2026 is $1.46 billion to $1.6 billion, with a median of $1.53 billion, lower than the market's expectation of $1.55 billion.