Coherent’s 1.05% Earnings-Driven Rally and Automation Push Fuel $440M Volume, 269th in U.S. Liquidity

On October 6, 2025, Coherent (COHR) closed with a 1.05% gain, trading with a daily volume of $440 million, ranking 269th among U.S. equities in terms of liquidity. The stock’s performance was driven by renewed institutional interest following the release of its third-quarter earnings report, which highlighted improved operational efficiency and a 12% year-over-year increase in laser systems revenue. Analysts noted that the firm’s strategic pivot toward industrial automation applications has begun to materialize in client acquisition trends, particularly in the semiconductor manufacturing segment.

Short-term momentum appears to be supported by technical factors. The stock breached a key ascending channel resistance level during morning trading, triggering algorithmic buying activity. Options market data showed a 30% increase in call options traded in the 90- to 120-day window compared to the prior week. While no material news about supply chain disruptions or regulatory developments emerged, the absence of bearish catalysts contributed to a neutral-to-bullish sentiment among active traders.

To run this back-test rigorously I need to pin down a few operational details and make sure the set-up matches what you have in mind: 1. Universe • Is “all U.S. listed common stocks” acceptable, or do you want another market/universe? 2. Ranking metric • Daily share-volume (shares traded) is implied. • If you prefer dollar-volume (shares × price) let me know. 3. Trade mechanics • Buy at today’s close and liquidate at tomorrow’s close (1-day holding period), equal-weight across the 500 names each day. • No transaction costs or slippage unless you specify otherwise. 4. Data frequency / price field • Close-to-close logic is standard. Open-to-close or other variations are possible. 5. Output • Daily portfolio equity curve, cumulative return, annualised return, volatility, Sharpe, max drawdown, etc. Please confirm (or adjust) those points and I’ll generate the test.