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Matt Phillips & Luke Kawa

AI infrastructure company Vertiv soars after Q4 earnings beat, 2026 outlook crushes expectations

AI infrastructure company Vertiv Holdings is spiking after posting sunny guidance and Q4 earnings that beat estimates.

For Q4, the major provider of power and cooling solutions for data centers reported:

  • Adjusted earnings per share of $1.36, vs. the $1.29 consensus expectation from analysts surveyed by FactSet.

  • Sales of $2.88 billion, in line with estimates.

For Q1, management said adjusted earnings would come in between $0.95 and $1.01; even the lower end of that range is higher than the $0.93 consensus estimate. Q1 guidance for net sales of $2.5 billion to $2.7 billion also outstripped Wall Street’s call for $2.54 billion.

For the full year, the lower end of Vertiv’s range of guidance for net sales ($13.25 billion to $13.75 billion) and adjusted earnings per share ($5.97 to $6.07) were both above the highest estimates from analysts polled by Bloomberg.

Vertiv has to be one of the more successful examples of SPAC-era financial engineering.

The company came out of the combination of GS Acquisition Holdings Corp., a so-called blank check company, and Vertiv Holdings — then owned by private equity company Platinum Equity — as part of a roughly $1.9 billion deal, including debt, first announced in late 2019.

The stock pretty much went nowhere for years after it listed as Vertiv on February 10, 2020. But as the AI data center boom began to roll, the shares exploded. Since the end of 2022, they’re up more than 1,300% and Vertiv has created roughly $70 billion in market value.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Luke Kawa
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US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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