BUZZ-Optical tech co Lumentum rises on Nasdaq-100 addition
CoStar Group, Inc. CSGP | 0.00 | |
Lumentum Holdings, Inc. LITE | 0.00 | |
NASDAQ-100 NDX | 0.00 | |
S&P 500 index SPX | 0.00 | |
NASDAQ IXIC | 0.00 |
** Optical-technology maker Lumentum's LITE.O shares up 5.5% at $954 before the bell as it's set to join the Nasdaq-100 index .NDX next week
** LITE to replace real-estate analytics firm CoStar CSGP.O in the NDX effective Mon, May 18, Nasdaq Global Indexes announced late Fri
** CSGP stock ticks down 0.4% premarket
** NDX comprises 100 of the largest Nasdaq-listed non-financial companies and is tracked by more than 200 investment vehicles with combined $600 bln in assets under management, according to Nasdaq's release
** LITE, which joined the S&P 500 .SPX in Mar, has roughly $70 bln market cap
** Stock has surged 145% YTD at Fri close, ranking it the 6th best performer among current SPX components
** Co last week forecast qtrly rev above Wall Street's expectations, betting on strong demand for its high-speed optical components that are crucial for AI infrastructure
** 20 of 25 analysts rate the stock "strong buy" or "buy", 5 "hold"; median PT $1,100, per LSEG data
** Meanwhile, NDX up about 16% in 2026 as of Fri, double the SPX's advance