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Matt Phillips

Vertiv drops after offering uninspiring Q2 guidance, overshadowing solid Q1 beat

Shares of Vertiv Holdings dropped as much as ~6% in early trading on Wednesday after the data center equipment maker’s better-than-expected Q1 numbers were overshadowed by uninspiring guidance.

For the quarter ended March 31, 2026, Vertiv reported:  

  • Q1 adjusted earnings per share of $1.17 vs. the $1.00 consensus expectation from analysts surveyed by FactSet.

  • Sales of $2.65 billion vs. the $2.64 billion expectation (compiled by FactSet).

For Q2, Vertiv expects adjusted earnings per share of between $1.37 and $1.43, coming in below the $1.43 consensus estimate at its midpoint. It guided for net sales of $3.25 billion to $3.45 billion in Q2, compared to Wall Street’s call for $3.40 billion.

Vertiv, which listed in February 2020 as a result of GS Acquisition Holdings Corp., a so-called blank check company, merging with private equity-owned Vertiv Holdings, has soared over 300% over the last year through Tuesday’s close, as investors have rushed to snap up shares of companies poised to collect some of the hundreds of billions of dollars in spending that the hyperscalers are pouring into the data center build-out. 

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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 Oamek

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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