Repost - BUZZ - TTM Technologies shares may see the biggest single-day drop in 26 years as data center revenue falls short of expectations

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October 22 - ** TTM Technologies (TTMI.O) shares plummeted 29% to $72.62, marking the biggest single-day drop since December 2000

** Revenue from data center and networking business units accounted for 41% of third-quarter net sales, below CEO Edwin Roks’ previous expectation of 49%

** Roks pointed out that client project scheduling was the reason for missing the expected target

** According to data compiled by London Stock Exchange Group (LSEG), this printed circuit board manufacturer reported third-quarter revenue of $1.20 billion, exceeding analysts’ expectations of $1.13 billion

** The stock was also weighed down by concerns over rising corporate debt related to data centers. Last week, similar concerns triggered sharp declines in the share prices of highly-leveraged operators such as CoreWeave

** Other circuit board makers also saw share price declines: Flex (FLEX.O) fell 10.3%, Sanmina (SANM.O) dropped 9.5%, Plexus (PLXS.O) fell 7.2%

** Including today’s trading, TTMI is up 5% so far this year

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