Carrier Global shares jump 5.9% after Q3 earnings beat expectations despite 7% sales decline.

Carrier Global's Q3 earnings beat analyst expectations with adjusted EPS of $0.67, a 7% YoY decline in sales to $5.6 billion, and a 30% growth in its Commercial HVAC business in the Americas. The company also announced a $5 billion share repurchase program. Shares rose 5.9% initially but cooled down to a 3.6% gain from the previous close. Carrier Global's stock has been relatively stable, with only six moves greater than 5% over the last year.