The decline in ITT's share price directly correlates with the release of their Q1 earnings. This suggests that the financial results did not meet market expectations, leading to a negative short-term impact on the stock. The high relevance score is due to the article specifically mentioning ITT's earnings as the cause for the stock's performance. The importance is high because earnings reports are critical financial updates that directly influence investor sentiment and stock valuation. The confidence level is high due to the clear cause-and-effect relationship between earnings announcements and stock price movements.