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The Markets Desk — Week 44 · Tue 27 Oct 2026
Beats / 70 priced constituents

datacenters

An equal-weight index of the priced names on this beat, rebuilt every Friday from the constituents that were actually in it.

210.0-5.6%base 100 · to 2026-10-23

This week

What happened

Events on datacenters
DateTypeWhat happenedSource
2026-10-27editorial noteMargin figure revised: 40% → 36.6%Margin moved from 40% (deep-dive-2026-07-25-refresh.md) to 36.6% (deep-dive-2026-10-27.md).dossier
2026-10-27editorial noteRevenue figure revised: $2.418B → $2,739.3MRevenue moved from $2.418B (deep-dive-2026-07-25-refresh.md) to $2,739.3M (deep-dive-2026-10-27.md).dossier
2026-10-27editorial noteVerdict changed: Best-positioned #2 in the custom-AI-silicon duopoly with an NVIDIA-blessed optical moat — but at ~$310 / ~109x trailing non-GAAP EPS the stock has priced in flawless execution AND al…Before (deep-dive-2026-07-25-refresh.md): Best-positioned #2 in the custom-AI-silicon duopoly with an NVIDIA-blessed optical moat — but at ~$310 / ~109x trailing non-GAAP EPS the stock has priced in flawless execution AND already round-tripped a 2025 Trainium-loss scare; own the business, fade the entry, wait for a hyperscaler-wobble re-rate. After (deep-dive-2026-10-27.md): Since July the custom business stopped being a story about one lost or kept socket and became a contract with Google. Marvell issued Google a warrant for up to 59.0M shares that vests one tranche per $500M of custom-product revenue, up to $120B through FY2033, and at its 2026-10-06 Investor Day raised the FY2028 revenue outlook to $20B (from $16.5B in May) and the FY2029 custom target to $12B+. The quarter itself was a clean beat on a raised guide; the new risks are dilution and one distributor at 44% of revenue.dossier
2026-10-26filingForm 4 cluster: 5 insiders, 22 Oct 2026 tax-withholding share surrender at $77.325 insiders filed Form 4 on 22 Oct 2026: code F, shares surrendered to issuer for tax withholding on RSU vesting at $77.32; 33,563 shares in total.agent:company-events · SEC EDGAR Form 4
2026-10-26filing8-K: Closing of King Environmental Services acquisition8-K Item 7.01: press release dated 26 Oct 2026 announcing a wholly-owned subsidiary closed the acquisition of King Environmental Services Ltd.; no price stated.agent:company-events · SEC EDGAR 8-K
2026-10-23contract8-K: Third A&R Revolving Credit Agreement, up to $3bnEntered 22 Oct 2026 a Third A&R Revolving Credit Agreement (Bank of America, agent): up to $3bn revolving loans, increasable by up to $2bn; replaces the $1.5bn facility dated 30 Jun 2025; five-year maturity; no loans outstanding.agent:company-events · SEC EDGAR 8-K
2026-10-23filingForm 4 filings by 5 officers, 21 Oct 2026, RSU awards5 insiders received RSU awards on 21 Oct 2026: Daly (CEO) 5,941; Kober (CFO) 2,277; Dennehy (COO) 2,104; Hwang 1,439; Roth 1,401; total 13,162 shares. No sales reported.agent:company-events · SEC EDGAR Form 4
2026-10-23filing8-K Item 5.02: executive severance plan amended; CEO agreement restatedOn 22 Oct 2026 the Executive Severance Plan was amended and renamed Lumen Severance Plan, removing CEO Kate Johnson and other named officers as participants; Johnson's agreement restated (non-CIC severance 104 weeks' salary plus target bonus).agent:company-events · SEC EDGAR 8-K
2026-10-22filing6-K: $3.5bn bridge facility agreement signed 17 Oct 2026Bridge Facility Agreement signed 17 Oct 2026: $3.5bn senior secured term loan, Term SOFR + 2.75% stepping to 3.50%, maturity 16 Oct 2027.agent:company-events · SEC EDGAR 6-K
2026-10-22filing8-K 5.02: CFO William George to retire; Julie Shaeff named CFOWilliam George, EVP and CFO, to retire effective after the FY2026 Form 10-K filing; Julie Shaeff, SVP and Chief Accounting Officer, appointed EVP and CFO effective the same date; her compensation not yet determined.agent:company-events · SEC EDGAR 8-K
2026-10-22guidance8-K 2.02: Q3 2026 net income $489.0M, revenue $3.77bnQ3 2026 net income $489.0M, $13.91 per diluted share; revenue $3.77bn (Q3 2025 $2.45bn); operating cash flow $1.01bn; backlog $17.81bn at 30 Sep 2026. Quarterly dividend declared, record date 12 Nov 2026.agent:company-events · SEC EDGAR 8-K
2026-10-22filing10-Q: quarter ended 30 Sep 2026, revenue $1,235.8MQuarter ended 30 Sep 2026: total revenue $1,235.8M (Q3 2025 $519.0M); net income attributable to common stockholders $250.3M (Q3 2025 loss $23.1M); diluted EPS $0.78.agent:company-events · SEC EDGAR 10-Q
2026-10-22filing10-Q: quarter ended 30 Sep 2026, revenue $3,766.3MQuarter ended 30 Sep 2026: revenue $3,766.3M (Q3 2025 $2,451.0M); net income $489.0M (Q3 2025 $291.6M); diluted EPS $13.91.agent:company-events · SEC EDGAR 10-Q
2026-10-22guidance8-K 2.02: Q3 2026 results, revenue $1,235.8M; FY2026 revenue guidance $4.4B-$4.6BQ3 2026 revenue $1,235.8M (+138.1% y/y); net income to common stockholders $250.3M; GAAP diluted EPS $0.78. FY2026 revenue guidance raised to $4.4B-$4.6B.agent:company-events · SEC EDGAR 8-K
2026-10-21filingForm 4 filings: 9 insiders report Atkore merger cash-out at $95 per share9 insiders filed Form 4s 19-21 Oct 2026: all disposed of common stock (code D) at $95.00 cash merger consideration on closing of the Prysmian merger; some also reported PSU earn-out acquisitions.agent:company-events · SEC EDGAR Form 4
2026-10-21guidanceCrown Castle reports Q3 2026; raises 2026 Adjusted EBITDA outlookQ3 2026 net income $283M ($0.67 diluted), site rental revenues $966M, Adjusted EBITDA $673M. FY2026 Adjusted EBITDA outlook $2,690M-$2,740M (previously $2,665M-$2,715M); AFFO $1,955M-$2,005M.agent:company-events · SEC EDGAR 8-K
2026-10-21filingDell 8-K: General Counsel Rothberg to retire; Garcia named chief legal officerRichard Rothberg, EVP, General Counsel and Secretary, notified retirement on 19 Oct 2026, effective 1 Feb 2027. Board appointed Christopher Garcia, SVP Corporate Legal, as chief legal officer effective 1 Feb 2027.agent:company-events · SEC EDGAR 8-K
2026-10-21filingAtkore: 9 insiders dispose of shares at $95.00 in Prysmian mergerNine insiders filed Form 4s reporting disposal of common shares (code D) at $95.00 cash per share under the Prysmian merger closing 19 Oct 2026; holdings after the merger shown as 0.agent:company-events · SEC EDGAR Form 4
2026-10-20filingForm 4 cluster: 3 Oklo insiders report 6,882 RSUs settled and 3,047 shares sold, 13-19 Oct 20263 insiders, 13-19 Oct 2026: RSU settlements Hanson 961, Renner 1,521, Narayanadas 4,400; sell-to-cover sales Renner 688 at $30.75 and Narayanadas 2,359 at $27.63.agent:company-events · SEC EDGAR Form 4
2026-10-20guidance8-K: Supermicro preliminary Q1 FY2027 revenue $18.5bn-$19.5bnPreliminary, unaudited Q1 FY2027 (to 30 Sep 2026): revenue $18.5bn-$19.5bn versus prior guidance $14.5bn-$15.5bn; gross margin 12.0%-12.5% versus guidance 10.4%-10.8%. Earnings call 3 Nov 2026.agent:company-events · SEC EDGAR 8-K

Dated ahead

Dated catalysts ahead
DateCompanyPeriodFirmness
2026-10-28GE Vernova GEV2026-Q3confirmed
2026-10-28Equinix EQIX2026-Q3confirmed
2026-10-29American Tower AMT2026-Q3expected
2026-10-29Carrier Global CARR2026-Q3expected
2026-10-29Corning GLW2026-Q3expected
2026-10-29SPX Technologies SPXC2026-Q3expected
2026-10-29Trane Technologies TT2026-Q3expected
2026-10-29Caterpillar CAT2026-Q3expected
2026-10-29Digital Realty Trust DLR2026-Q3confirmed
2026-10-30Caterpillar CAT2026-Q3expected
2026-10-30Equinix EQIX2026-Q3expected
2026-10-30Generac Holdings GNRC2026-Q3expected
2026-10-30Hubbell HUBB2026-Q3expected
2026-10-30Modine Manufacturing MOD2026-Q3expected
2026-10-30MYR Group MYRG2026-Q3expected
2026-10-30SPX Technologies SPXC2026-Q3expected
2026-10-30Trane Technologies TT2026-Q3expected
2026-10-30SBA Communications SBAC2026-Q3expected
2026-10-31Generac Holdings GNRC2026-Q3expected
2026-10-31Modine Manufacturing MODFY2027-Q2expected