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Lumentum CEO Raises 2028 Earnings Guidance to $40
Speaking at the Deutsche Bank Technology Conference, Michael Hurlston, CEO of Lumentum, stated in part: "We have seen a huge uptick in our order book and the order rate, which actually gives us confidence to increase or give a new guidance, right? A new guidance for the company, and that is that in 2028. We figure that we can now deliver $40 of earnings power, a very, very significant number and a take up, I think, against all the sell side analysts in terms of where we think our earnings power can be. That is now driven significantly on the back of optics, the optics numbers have come up a lot since our last earnings call. That really gives us a lot of confidence given the margin profile of that of that good to substantially take up where we think our earnings power will be in 2028 and our fiscal 2028."
Salesforce Shares Rise 12.8% After Earnings Boost
The AI capex trade continued to work on Wednesday as gains in the Tech sector were paced by strong performance in computer hardware, communication equipment, and electronic components groups. Names like Arista Networks, Seagate, Western Digital, Corning, and Lumentumsaw outsized gains for the second consecutive session, and even infrastructure software performed well - Palantirand Oraclewere up nearly 3% on the day. Healthcare underperformed as investors booked profits after the sector's relative strength over recent weeks to rotate into AI-exposed areas of the market.Sentiment was also coiled heading into multiple blockbuster earnings announcements in the tech sector after hours, and the reporting companies did not disappoint. Nvidia was slightly weaker after earnings, but the management's forecast of 70% revenue growth in FY28 brought in buyers. Salesforce - the purported posterchild of "enterprise software as a victim of AI adoption" theme - spiked 13% to February highs as the company blew away estimates, raised guidance, and deepened its partnership with Anthropic. Meanwhile, cybersecurity and identity software stocks reporting results - Crowdstrike and Okta - also traded much firmer.In the opening hour of the evening session, US index futures reflect the optimism of positive earnings barrage - S&P e-minis are up 0.6% and NASDAQ 100 contract is up 1.1%.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Oktaup 20.3%Salesforceup 12.8%Lantronix (LTRX) up 12.2%Phibro Animal Health Corporation (PAHC) up 10.3%CrowdStrike Holdingsup 10.0%Veeva Systemsup 9.0%Nutanixup 8.1%Ooma, Inc.up 6.9%Agilent Technologiesup 4.6%NVIDIAup 4.2%Everpure, Inc.up 3.3%ALSO HIGHER -Tenable Holdingsup 7.8% after admission into S&P SmallCap 600 indexFunkoup 6.0% after insider buyDOWN AFTER EARNINGS -HP Inc.down 9.1%Urban Outfitters, Inc.down 3.6%Synopsysdown 1.0%ALSO LOWER -Wendy's Companydown 13.2% after Reuters report Trian is backing away from bid
Super Micro and Others See Notable Stock Gains
Notable gainers among liquid option names this morning include Super Micro (SMCI) $36.28 +4.68, Ciena (CIEN) $428.63 +41.11, Seagate (STX) $888.12 +67.61, Sandisk Corporation (SNDK) $1366.65 +95.60, and Lumentum (LITE) $879.15 +58.56.
U.S. Stock Futures Rise After Consumer Prices Report
Stock futures are higher after the July consumer prices report, with the data providing a near-term signal for the Federal Reserve's September policy decision. The CPI report came in exactly in line with expectations. Consumer prices rose 0.1% month over month and 3.4% year over year, down from 3.5% in June, while core CPI rose 0.2% monthly and 2.5% annually. The combination of softer employment and contained core inflation could strengthen the case for eventual easing. That said, inflation remains well above the Fed's 2% target, and rising oil prices could put renewed upward pressure on headline inflation in coming months.AI infrastructure stocks are providing a significant boost to the broader market. CoreWeave is up sharply in premarket trading after reporting better-than-expected second-quarter results and raising its capital-spending forecast, while Super Micro Computer is also gaining following a strong revenue outlook. The results are reinforcing investor confidence that demand for AI computing infrastructure remains strong despite ongoing concerns about the enormous capital expenditures required to support the industry.Brent crude has risen for six consecutive sessions as tensions involving Iran and disruptions around the Strait of Hormuz continue to threaten energy supplies. Higher oil prices could complicate the Fed's inflation outlook if the increases persist, particularly at a time when markets are already debating whether monetary policy can ease later this year.In pre-market trading, S&P 500 futures rose 0.45%, Nasdaq futures rose 0.97% and Dow futures rose 0.27%.Check out this morning's top movers from around Wall Street, compiled by The Fly.UP AFTER EARNINGS -CoreWeaveup 20%Cava Groupup 17%Nebiusup 16%H&R Blockup 13%Kornit Digitalup 9%Super Microup 9%Lumentumup 9%MSG Entertainmentup 3%Trimbleup 3%DOWN AFTER EARNINGS -Performance Food Groupdown 4%Amcordown 3%Jumia Technologiesdown 1%Kontoor Brandsdown 1%
H&R Block Rises 16.2% After Earnings
Futures are marginally higher in the opening hours of the evening session with S&P e-minis and NASDAQ 100 contracts, both up by about a decimal. The AI trade has been in a bit of a stasis, with the Technology sector once again eclipsed by the relative safety of Utilities and Energy on Tuesday - the top-performing sectors in the benchmark. Communication Services was a big laggard weighed down by shares of Alphabettrading down by about 4% in today's session.Strong post-earnings results from Super Microand CoreWeaveafterhours could help re-bolster confidence in the tech arena, particularly as markets prepare for the quarterly update from Ciscoovernight - where earnings last time drove a double-digit gap in shares the following day. Before that report however, investors will have a chance to react to a key macro input - monthly CPI inflation data due out Wednesday morning. Recall that core annualized CPI for June reported last month at 2.6% was a three-month low, that month was also marked by a sharp retreat of the geopolitical premium in the oil markets, which had then reversed course in July as US-Iran tensions reignited.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -H&R Blockup 16.2%CoreWeaveup 13.8%CAVA Groupup 12.7%Super Micro Computerup 6.4%Lumentumup 1.1%DOWN AFTER EARNINGS -United States Antimonydown 11.4%Abscidown 10.8%ALSO LOWER -Savers Value Villagedown 13.1% after equity offering
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