markets

J. Edward Moreno5/11/26

Lumentum jumps on Nasdaq 100 Index inclusion

Lumentum rose in early trading on Monday after Nasdaq announced on Friday that it would add the optics company to its benchmark index alongside some of the world’s biggest tech companies.

Lumentum makes optical components that use light, rather than traditional copper interconnects, to move data within and between servers in data centers. Its technology is increasingly seen as critical for scaling artificial intelligence capacity.

The stock rose 4.8% in premarket trading by 6 a.m. ET. Shares are up 134% since the start of the year through Friday’s close.

On May 18, it will join the Nasdaq 100 Index, which underpins millions of portfolios. It will replace CoStar Group, a real estate data company.

Lumentum Holdings Inc. to Join the Nasdaq-100 Index® Beginning May 18, 2026

Lumentum makes optical components that use light, rather than traditional copper interconnects, to move data within and between servers in data centers. Its technology is increasingly seen as critical for scaling artificial intelligence capacity.

The stock rose 4.8% in premarket trading by 6 a.m. ET. Shares are up 134% since the start of the year through Friday’s close.

On May 18, it will join the Nasdaq 100 Index, which underpins millions of portfolios. It will replace CoStar Group, a real estate data company.

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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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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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