A firm release earnings after close. The fiscal quarter meets consensus expectations and guidance for th full year is higher thatn current analyst estimate. there were no surprise in report. All fins are out. The stock opens down $5\%$ the next day. what might be the reason?

The firm beta is $0\mathrm{.}7$ and SP$500$ are upt $2\mathrm{.}5\%$

A peer firm had postive earnings

Market expectation were higher than published results

The firm is yet to have their earning call