Lumentum is trading 8.51% down at $769.14 on November 2, with sector pressure the clearest reported context.

  • Fiscal Q1 results topped analyst expectations; Q2 revenue is forecast higher.
  • Lumentum announced a $115 billion all-stock acquisition by Marvell, valued at about $1,132 per share.
  • Reuters said shares had fallen about 8% since takeover talks were reported, as chip selling accelerated after Intel’s weak forecast; reports do not establish a direct negative reaction to earnings or the deal.