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Why Cornerstone Building Brands Stock Is Down Today

Why Cornerstone Building Brands Stock Is Down Today

Cornerstone Building Products (NYSE: CNR) delivered a solid quarter, easily beating consensus estimates. The market, however, appears unimpressed, with shares of Cornerstone down more than 12% as of 1 p.m. EDT Wednesday. Net sales were up 29% year over year and 8% above the second quarter of 2019 as Cornerstone benefited from strong housing demand that is prompting homebuilders to boost building levels.