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Markets · Investing · Business
Finance
Why Resideo Technologies Stock Is Plummeting This Week
Resideo beat sales and earnings expectations in fiscal Q2, but that hasn't stopped the stock from getting hit with big sell-offs.
Resideo Technologies(NYSE: REZI) stock is falling this week even though the company reported better-than-expected quarterly results.Heading into this Friday's market open, the stock was down 21.5% from its price at the end of last week's close. Meanwhile, the S&P 500 index was up 0.5%.
On Wednesday, Resideo published results for the second quarter of its 2026 fiscal year -- which ended July 4. While the company's sales and earnings for the period surpassed Wall Street's targets, disappointing forward guidance caused investors to sell out of the stock.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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