Why TTM Technologies Stock Jumped Plunged 30% Today

I checked the headlines for TTM Technologies (NASDAQ:TTMI) at 12:50 p.m. ET. They looked rosy since the electronics manufacturer beat Wall Street's targets in the early morning's Q3 report. Then I looked at TTM's stock chart, which told a very different story. As of this writing, it's down 29.5% today.

What's going on here?

Let's start with TTM's reported numbers. Sales rose 59% year-over-year to $1.20 billion. Adjusted earnings more than doubled from $0.67 to $1.46 per diluted share. The Street consensus called for earnings of around $1.26 per share and revenue in the neighborhood of $1.13 billion, so the surprises were fairly large.

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