Coherent stock rallies on profit beat and bullish comments on product launch

Stronger-than-expected earnings, fast growth in another unit and a bullish report on a new product powered gains in Coherent Corp.’s stock on Tuesday.Coherent COHR, +12.40% stock was up by 11.9% in regular trading on Tuesday. The stock has risen 27.7% so far in 2024, compared to a 3.8% rise by the Nasdaq COMP. The Santa Clara, Calif.-based optical communications and subsystems company said its latest quarter marked the third straight quarter of strong orders for its datacom transceivers. The company said it ...