Energy Recovery is trading 11.3% lower at $6.36 after its November 4 third-quarter results missed expectations, the clearest company-specific catalyst for the November 5 decline. - Revenue was $11.2 million, down 65% year over year; diluted loss per share was $0.12. - Megaproject revenue fell 95% amid Middle East project disruption; COâ‚‚ business exit charges were $5.7 million. - Major U.S. indices and the industrials sector also fell, adding market pressure.