Reported 4 months ago
Shares of Coherent (NYSE: COHR) surged 19.5% after the laser maker announced that Jim Anderson, CEO of Lattice Semiconductor, will become its new CEO. The news led to a 15% drop in Lattice shares. Anderson's successful leadership at Lattice, with shares rising significantly, has investors excited about his move to Coherent. Coherent, despite recent growth in stock performance, faces challenges such as significant debt and lack of profitability. Investors are hopeful Anderson can help the company address these issues and drive growth.
Source: YAHOO