Hi Sasha,
Thanks for posting your question here.
Let's begin from the Arizona sentence that you have presented as a reference.
It is cold in Arizona because of the westward storm coming from pacific.This sentence is correct because it presents the reason why it is cold in Arizona. It is is cold there because of the westward wind. Now, the verb-ing modifier presents extra information about this westward wind. This modifier specifies its direction. But, the core meaning of the sentence is that it is cold in Arizona because of the westward storm.
In the same line, let;s analyze the problem sentence that you have presented.
Because of Elnath Industries posting a second consecutive quarter of losses, its stocks tumbled 20% in the last three days.The core meaning of the sentence is that Elnath Industries' stocks fell 20% in the last three days because of Elnath Industries. Now, the verb-ing modifier "posting..." is providing extra information about this industry. So if we exclude this information, the core meaning conveyed is illogical. But, this is not the case with the Arizona sentence.
Hence, the correct way to convey the logical meaning is to say:
Because Elnath Industries posted second consecutive quarter of losses, its stocks tumbled 20% in the last three days.This sentence correctly presents the reason why the industry's stocks fell so much.
Hope this helps.

Thanks.
SJ