On July 29, Carrier Global Corporation fell 5.21% in regular trading, trading at $65.95/share, with turnover of $340 million. The decline follows a reversal from a pre-market rally the prior session, as investors engaged in profit-taking after digesting the year-over-year earnings contraction.

Carrier Global reported Q2 adjusted EPS of $0.86, beating the analyst consensus of $0.81 by 6.17%. Net sales of $6.35 billion also exceeded estimates of $6.02 billion. The company raised full-year adjusted EPS guidance to $2.90 from $2.80, above the FactSet estimate of $2.81, and lifted its sales outlook to approximately $23 billion from $22 billion. However, Q2 adjusted EPS declined 6.52% from $0.92 a year earlier. The stock had surged over 6% in pre-market trading on July 28, and the current pullback reflects profit-taking as the market weighed the year-over-year earnings decline.

Within the Building Products sector, peers also traded lower: Johnson Controls down 2.82%, Trane Technologies down 3.35%, Modine Manufacturing down 7.18%, while Armstrong World rose 10.33%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)