In company news, Lumentum Holdings (LITE) increased 8.6% after the photonics and optical products company reported Q3 earnings and revenue topping analyst forecasts and also projected above-consensus results for the current quarter. Excluding one-time items, Lumentum earned 1.19 per share on $395.4 million in revenue during its Q3 ended April 2, compared with the Capital IQ consensus looking for $1.12 per share and $390.2 million, respectively.
Super Micro Computer (SMCI) was over 31% higher, easing only slightly from a best-ever $56.96 a share that followed the servers and data storage company reporting above-consensus results for its fiscal Q3 ended March 31 and projecting non-GAAP net income and revenue for the current quarter also exceeding Wall Street expectations. Excluding one-time items, it earned $1.55 per share on $1.36 billion in revenue compared with the Capital IQ consensus looking for a $1.22 per share adjusted profit on $1.26 billion in Q3 revenue.
Littelfuse (LFUS) added almost 11% after the electronic components company said it earned $4.99 per share during its Q1 ended April 2, excluding one-time items, improving on a $2.67 per share adjusted profit during the same quarter in 2021, and beating the Capital IQ consensus expecting $3.24 per share. Revenue increased 34.4% year-over-year to $623.3 million, also topping the $573.7 million analysts mean.
To the downside, Workiva (WK) slumped 6.6% after the workplace collaboration platform company projected a wider non-GAAP net loss for its current Q2 than analysts were expecting and also guided Q2 revenue below Wall Street forecasts. Excluding one-time items, the company is expecting a Q2 net loss in the range of $0.25 to $0.27 per share on between $125.5 million to $126.5 million in revenue. Analysts, on average, are looking for a $0.20 per share adjusted loss on $127.7 million in revenue.
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