Why Core & Main Sank Today
Core & Main(CNM) The Motley Fool·2024-06-05 04:11
The industrial stock sank amid mixed earnings results. Shares of industrial water and wastewater pipe and equipment maker Core & Main (CNM -14.46%) sank 16.7% on Tuesday, as of 2:12 p.m. EDT. The company reported earnings this morning, and while revenue came in ahead of expectations, the company's falling margins apparently left a bad taste in investors' mouths. Also, given that the stock was already up 39% on year heading into Tuesday, a mixed result wasn't enough to overcome expectations. Growth-by-acquis ...