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CARR exceeded earnings expectations but lacked elevated guidance, indicating potential growth issues. Past similar scenarios, like Texas Instruments, also resulted in stock declines despite earnings beats.
What happened, with direct paths to the underlying reporting
CARR beat Q2 earnings but saw an 11% stock drop. Full-year sales guidance is at $23 billion, lower than expected. Market perceives slower growth due to lack of raised guidance. CARR shares traded at a high multiple before earnings. Investors are cautious amidst expensive valuations across the market.
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