Technology

● FreeCash Flowreached $1.34 billion alongside a record operating margin.

● Lumentum gave back most of its gain and closed only slightly higher.

● Shares gapped higher to $14.35 against a prior close of $11.72.

● The shares rebounded above the $625 price of the recent $25 billion offering.

● Fourth-quarter revenue guidance of $1.35 billion sat far above the $1.23 billion consensus.

● Second-quarter guidance calls forRevenueof $96 billion to $97.1 billion and higher capex.

● Capital spending of $45.2 billion fell below the roughly $50 billion consensus.