New York, Jan 8, 2026, 14:53 EST — Regular session
Carpenter Technology (NYSE: CRS) shares fell about 8% on Thursday, giving back early gains after notching a fresh intraday peak. The specialty-alloy maker was down $27.95 at $312.33 in afternoon trade, after opening at $345 and swinging between $347.99 and $308.90.
The stock move comes with a near-term catalyst on the calendar. Carpenter said it will release fiscal second-quarter results before the market opens on Jan. 29 and host a conference call at 10 a.m. ET that day. 1
That date matters because Carpenter’s last update set a tough yardstick for the next print. In October, it reported record quarterly operating income and forecast fiscal 2026 operating income of $660 million to $700 million, with second-quarter operating income expected at $152 million to $156 million; operating income is profit from operations before interest and taxes. The company also described itself as a supplier of high-performance specialty alloys for aerospace and defense and other markets. 2
The slide also landed amid uneven U.S. trading as Treasury yields rose ahead of Friday’s U.S. jobs report, while defense shares jumped after President Donald Trump called for a much larger 2027 military budget. “It’s not clear how Fed policy should or will react,” Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott, said, pointing to the uncertainty around what the next data will mean for rates. 3
Carpenter’s drop outpaced some specialty-metals peers on the day. ATI Inc was down about 3%, while Materion and Metallus traded higher.
After the early reversal, traders were watching whether the stock could stabilize near the session’s low area. A move back above the prior close would take some heat out of the chart; another leg down would put the round-number $300 level in play.
There’s a clear risk case, too. If aerospace build rates wobble or customers slow orders, a stock that has run hard into earnings can get punished fast, and heavier capacity spending can pinch cash generation even when profit holds up.
