Celestica Stock Falls 14%

(RTTNews) - Celestica Inc. (CLS) shares dropped 14.11 percent to $362.70, down $59.51 on Tuesday, even as the company reported sharply higher first-quarter earnings and revenue yesterday.

The stock is currently trading at $362.70, versus a previous close of $422.21 on the New York Stock Exchange. It recorded an intraday high of $392.70 and a low of $350.01, with trading volume of 3.17 million shares.

The company posted net income of $212.3 million, or $1.83 per share, compared to $86.2 million, or $0.74 per share, in the year-ago quarter. Adjusted earnings came in at $249.5 million, or $2.16 per share. Revenue surged 53.0 percent to $4.04 billion from $2.64 billion last year.

The stock's 52-week range is $81.88 to $423.25.