markets

Helena Cheng6/4/26

Ciena sinks despite crushing Q2 estimates and raising full-year outlook

Ciena Corp. shares are plunging Thursday despite the network technology company posting Q2 earnings results that beat Wall Street consensus estimates and raising its full-year outlook.

Ciena stock has surged so far this year, gaining over 150% year to date including today’s drop.

Key numbers:

Revenue of $1.57 billion (compared to analyst estimates of $1.50 billion).
Earnings per share of $1.64 (estimate: $1.46).
2026 full-year revenue guidance of $6.3 billion (estimate: $6.18 billion).

Revenue grew 40% year over year. That growth was anchored by the company’s core Optical Networking segment, which brought in $1.1 billion, while its Routing and Switching division nearly doubled to $174.2 million.

Management also raised its full-year fiscal 2026 revenue guidance to $6.3 billion (plus or minus $100 million). This marks a notable upgrade from its previous full-year target range of $5.9 billion to $6.3 billion. For the upcoming fiscal third quarter, the company anticipates revenues of $1.625 billion, exceeding the Wall Street’s expectations of $1.58 billion.

“Today’s results reflect the strength of our portfolio, the power of our business model, and disciplined execution in a dynamic supply environment,” Gary Smith, president and CEO of Ciena, said in a statement.

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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.

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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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