Lumentum Soars After S&P Rebalance Ahead of Vertiv, EchoStar, and Coherent

"Lumentum is the standout mover today. Shares are up 10.4%, trading around $611 as of this morning's session, with an intraday high of $628.70. This is the classic index inclusion bump - passive funds and index-tracking ETFs are required to own every S&P 500 component, which forces buying on the first day of inclusion. But the inclusion itself isn't arbitrary. Lumentum makes optical and photonic components that sit at the heart of AI infrastructure, and the business has been on a tear."

"Q2 FY26 revenue came in at $665.5M, up 65.5% year over year, with non-GAAP EPS of $1.67 beating estimates by roughly 18%. Forward guidance points to Q3 revenue of $780M-$830M, implying 85%+ year-over-year growth. One reason Lumentum shares could be jumping more today is that its inclusion was a surprise. Prediction markets had high odds that Vertiv would join the index, but Lumentum was seen as more of a dark horse."

"Vertiv, the data center power and cooling infrastructure company, is up 7.5% to around $259 this morning, touching an intraday high of $262.01. Like Lumentum, Vertiv is riding the AI infrastructure wave - it makes critical equipment for the data centers powering artificial intelligence systems."

Four companies—Lumentum, Coherent, EchoStar, and Vertiv—were added to the S&P 500 following Friday's rebalancing. On Monday, March 9, 2026, their first full trading day as index members, several showed significant gains despite the S&P 500 declining 0.53%. Lumentum led with a 10.4% jump to $611, driven by strong fundamentals including 65.5% year-over-year revenue growth and earnings that beat estimates by 18%. The company manufactures optical and photonic components critical to AI infrastructure. Vertiv, a data center power and cooling infrastructure provider, gained 7.5% to $259. These gains reflect typical index inclusion bumps as passive funds and index-tracking ETFs are required to purchase all S&P 500 components, combined with strong underlying business performance in the AI infrastructure sector.

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