Stock Market News for November 2, 2026

At a glance

On November 2, 2026, Palantir reported Q3 revenue of $2.313 billion and raised full-year guidance; Lumentum agreed to be acquired by Marvell in an all-stock deal implying an $115 billion enterprise value; Tower Semiconductor reported Q3 revenue of $526 million and guided Q4 to $600 million; onsemi agreed to buy Ferric for $600 million.

Earnings and guidance

Palantir Technologies (PLTR) reported third-quarter 2026 revenue of $2.313 billion, up 96% year over year, with U.S. commercial revenue of $984 million and the company raised its full-year revenue outlook to 91% Y/Y growth.

Tower Semiconductor (TSEM) reported third-quarter revenue of $526 million, up 33% Y/Y, GAAP net profit of $120.256 million, and provided fourth-quarter revenue guidance of $600 million ±5% with a 2026 revenue expectation of $2 billion.

Lumentum Holdings (LITE) reported fiscal Q1 revenue of $1.26 billion, GAAP net income of $360.3 million ($3.54 per diluted share), and said it secured purchase commitments exceeding $5 billion for a near-package/co-packaged optics design win.

ON Semiconductor (ON) reported third-quarter 2026 revenue of $1,722.3 million, GAAP diluted EPS of $0.79, and projected fourth-quarter revenue of $1,715–$1,815 million.

Fabrinet (FN) reported record fiscal Q1 2027 revenue of $1,474.5 million, GAAP net income of $103.5 million, and expects Q2 revenue of $1.6–$1.65 billion with GAAP diluted EPS of $3.81–$3.96.

Lattice Semiconductor (LSCC) reported record Q3 2026 revenue of $291.0 million, up 118% Y/Y, GAAP net income of $11.2 million and adjusted diluted EPS of $0.72.

BWX Technologies (BWXT) reported third-quarter 2026 revenue of $953.0 million, GAAP net income of $102.0 million, reaffirmed roughly $3,800 million in 2026 revenue guidance and narrowed adjusted EBITDA guidance.

Tempus AI (TEM) reported third-quarter 2026 revenue of $411.5 million, narrowed net loss to $14.9 million, and raised its 2026 revenue outlook to $1.60–$1.605 billion.

Paymentus Holdings (PAY) reported third-quarter 2026 revenue of $372.2 million, up 19.8% Y/Y, with net income of $27.5 million and record contribution-profit margin against which adjusted EBITDA rose 38.6%.

Deals and acquisitions

Lumentum Holdings (LITE) agreed to be acquired by Marvell Technology in an all-stock deal implying an enterprise value of $115 billion, with Lumentum holders to receive 4.500 Marvell shares per Lumentum share and about 33% ownership of the combined company.

ON Semiconductor (ON) agreed to acquire Ferric for $600 million in cash, with up to $175 million additional cash consideration tied to revenue milestones and expected closing by the end of 2026.

Supernus Pharmaceuticals (SUPN) completed its merger with Indivior, with former Supernus holders receiving 1.5401 Indivior shares per share and former Indivior holders owning ~56.5% of the combined company.

Gamehaus Holdings (GMHS) signed definitive agreements to acquire an expected ~56% stake in Techforge (Anamana) via a US$19.6 million share purchase plus a US$7.0 million cash investment, issuing ~24.5 million Class A shares at US$0.80 each.

Drug trials and regulatory news

Recursion Pharmaceuticals (RXRX) reported updated Phase 2 REC-4881 data showing a 47% median reduction in total polyp burden in familial adenomatous polyposis after 12 weeks, with durable responses in most patients off treatment.

uniQure (QURE) received FDA acceptance and Priority Review of its BLA for ifezuntirgene inilparvovec for Huntington’s disease under Accelerated Approval, with an FDA target action date of May 1, 2027 and a tentative advisory committee planned.

Cerus (CERS) announced positive topline Phase 3 RedeS trial results showing INTERCEPT-treated red blood cells met the primary non-inferiority efficacy endpoint with an adjusted hemoglobin increment of 1.996 g/dL versus 2.050 g/dL for conventional cells (non-inferiority p=0.004).

Tiziana Life Sciences (TLSA) reported positive topline Phase 2a INFORM-MS results for intranasal foralumab in non-active secondary progressive MS, with the 50 μg dose reducing microglial activation versus placebo (p=0.0168) and both doses meeting safety/tolerability endpoints.

Corporate actions and proposals

EVgo (EVGO) confirmed receipt of an unsolicited, non-binding take-private proposal from LS Power offering $2.00 per Class A share for shares LS Power does not already own and said its board formed a special committee to evaluate the proposal.

Enhanced Group (ENHA) announced a 60% reduction in shares scheduled to be released from lock-up on November 8, 2026, as key shareholders voluntarily extended restrictions until May 8, 2027, leaving 2.1 million shares scheduled for release.

Accendra Health (ACH) announced an extension of its $150 million Receivables Sale Program through October 2029 under an executed amendment to the Receivables Purchase Agreement.