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Hyunsoo Rim2/4/26

Lumentum jumps on earnings beat and strong guidance

Lumentum rose about 9% in premarket trading on Wednesday after the optical and photonics company reported better-than-expected quarterly earnings and guidance.

For the quarter ended December, revenue rose 65% year on year to a record $665.5 million, topping Wall Street’s estimate of $652.5 million, per Bloomberg. Adjusted earnings per share came in at $1.67, also crushing the $1.42 expected. Looking ahead, Lumentum projected March quarter revenue of $780 million to $830 million, well above analyst estimates for $745 million.

Lumentum sells optical and photonics components that power telecom networks and cloud data centers, with its customers ranging from equipment makers like Cisco and Ciena to hyperscalers such as Microsoft and Google, which are ramping up AI-heavy data center builds. The company also supplies lasers used in consumer electronics manufacturing, including for Apple.

On the earnings call, management said the order backlog for Optical Circuit Switches — a high-margin product used by hyperscalers to build AI clusters — has now surged past $400 million.

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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%

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

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