markets

Jon Keegan6/1/26

Credo Technology tanks, despite beating on earnings and revenue for Q4

Credo Technology Group shares cratered in after-hours trading after releasing Q4 earnings after the bell, despite crushing analyst expectations for earnings and revenue.

The stock dropped 15% in after-hours trading.

For Q4, the company — which makes high-speed connectivity solutions for data centers — posted:

Revenues of $437 million (estimate: $431.8 million).
Adjusted earnings per share of $1.16 (estimate: $1.02).

And for the first quarter, the company estimated revenue ranging from $465 million to $475 million, compared with analysts’ estimates for $461 million.

Shares of the company are up 63% year to date, and hit their all-time high of $247 today.

Shares soared earlier in the month after Credo announced its acquisition of DustPhotonics, which makes silicon photonic integrated circuits for high-speed networking in data centers. The acquisition means that Credo will be able to play both ends of the data center connectivity business, by adding advanced photonics to its bread and butter of active electrical cables.

Credo stock was down over 14% in after-hours 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.

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