markets

Luke Kawa2/10/26

Credo soars after preliminary Q3 revenues beat estimates and management projects annual sales growth of 200%

Credo Technology Group is earning itself some new believers.

The seller of active electrical cables (AECs) and other electrical connectivity solutions for data centers announced stellar Q3 preliminary sales results after the close on Monday, with guidance that calls for rapid growth to continue.

Shares are up about 15% as of 8 a.m. ET.

Management said Q3 revenues would range between $404 million and $408 million, above the upper end of its guidance and the $341 million forecast from Wall Street. Going forward, the company projects that revenues will grow in the mid-single digits quarter on quarter, propelling revenue growth up more than 200% year on year through its current fiscal year.

“We reaffirm CRDO as our Top Pick for 2026 and view this announcement positively given management’s continued execution with its AEC product offering and our underlying belief in the longevity of AECs,” wrote Needham & Co. analyst Quinn Bolton, who has a $220 price target on the shares. “At the Needham Growth Conference, management stated that they believe the industry is still in the early innings of the AEC adoption curve, pointing to only one customer that has fully deployed AECs across potential use cases (front-end networks, scale-out networks and switch racks) and stated that visibility continues to be strong over the next twelve months and beyond.”

Bolton boosted his sales outlook for Credo’s next fiscal year and the one after that following this news.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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J. Edward Moreno7/7/26

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.

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

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

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markets

Paige Oamek6/30/26

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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