Markets
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Claire Yubin Oh

Atlassian soars after strong beat and a hike to its 2026 guidance, blowing a hole in the software AI bear thesis

Atlassian shares skyrocketed 23% in premarket trading on Friday after the embattled workflow software firm hiked its FY2026 guidance and reported better-than-expected revenue and profit results for its fiscal third quarter.

For the quarter ended March 31, 2026, the company reported:

  • Revenue of $1.79 billion, up 32% year over year and topping Wall Street expectations of $1.695 billion (compiled by Bloomberg).

  • Adjusted earnings per share of $1.75 per share, more than 30% ahead of analyst estimates for $1.34 of adjusted earnings.

CEO Mike Cannon-Brookes noted, “Our strong Q3 results show the power of our strategy in action, with total revenue growing 32% year-over-year to $1.8 billion, as customers sign bigger, longer-term commitments, and connect their teams and workflows on our AI-powered platform.” The company also hiked the outlook for its 2026 fiscal year, ending June 30. Atlassian now expects:

  • Total year-over-year revenue growth to be approximately 24%, up from the 22% expected in the previous quarter.

  • Higher revenue growth for its key businesses, with its Cloud segment now expected to grow 26.5%, Data Center 21.5%, and Marketplace and Other 6.5%, compared to the year before.

The latest jump is a sigh of relief not only for Atlassian — which has seen its shares fall more than 50% in 2026 — but also the wider software complex at large, which has been under relentless pressure from an AI-spooked sell-off in recent months. While this certainly won’t kill the “SAASpocalypse” thesis altogether — the idea that the moat of software businesses will disappear in an age of vibe coding — it may blunt some of the concerns, or at the very least push the timeline of any anticipated disruption back a few quarters.

Strong earnings from Five9, and even Reddit, are also helping the software landscape this morning, with a number of high-profile SaaS (software-as-a-service) stocks in the green, including HubSpot, GitLab, Workday, ServiceNow, Salesforce, and Figma.

Earlier in March, Atlassian announced it was laying off about one-tenth of its staff “to self-fund further investment in AI and enterprise sales, while strengthening our financial profile.”

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Luke Kawa
7/13/26
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J. Edward Moreno

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
7/2/26
US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Luke Kawa
7/1/26
Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets
Paige Oamek

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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