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Lumentum Holdings Inc. (LITE) Discusses Illuminating the Networks of Tomorrow and Industry Trends Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Lumentum Holdings Inc. (LITE) Discusses Illuminating the Networks of Tomorrow and Industry Trends March 17, 2026 1:15 PM EDT

Company Participants

Kathryn Ta – Vice President of Investor Relations
Michael E. Hurlston – President, CEO & Director
Wupen Yuen – President of Global Business Units
Wajid Ali – Executive VP & CFO

Conference Call Participants

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Samik Chatterjee – JPMorgan Chase & Co, Research Division
Karl Ackerman – BNP Paribas, Research Division
Simon Leopold – Raymond James & Associates, Inc., Research Division
Christopher Rolland – Susquehanna Financial Group, LLLP, Research Division
Papa Sylla – Citigroup Inc., Research Division
George Notter – Wolfe Research, LLC
Vijay Rakesh – Mizuho Securities USA LLC, Research Division
Meta Marshall – Morgan Stanley, Research Division
Ryan Koontz – Needham & Company, LLC, Research Division

Presentation

Kathryn Ta
Vice President of Investor Relations

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We’re going to get started in about 2 minutes. Just a brief advertisement. If you want to have WiFi, we didn’t pay for extra WiFi here. So you can use the OFC one and the password is on the back of your badge for OFC. So we’re being economical here at Lumentum as always. Everyone quieted down really quickly there. So I guess we can go ahead and get started.

So my name is Kathy Ta. I’m the Vice President of Investor Relations here at Lumentum. Really, really glad to see you all here, see a lot of familiar and friendly faces. And as expected, a packed room with everyone sitting around the periphery. I don’t see anyone standing just yet, but I think that will happen as people leave to some of the other events. So today, we’re going to be talking with you about illuminating the networks of tomorrow.

I’m super excited to be doing this event right after yesterday’s event at NVIDIA. I’m sure you all have questions about what you heard

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Hints, Answer and Strategies for Puzzle #1733 on March 18, 2026

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Nancy Guthrie

NEW YORK — The New York Times Wordle puzzle for Wednesday, March 18, 2026 — game No. 1733 — challenged players with a moderately difficult adverb that tests vocabulary depth and strategic guessing. Released at midnight local time, today’s five-letter word drew an average of 4.6 guesses from NYT testers, marking it as tougher than recent entries but far from the game’s most brutal outings.

Wordle puzzle
Wordle puzzle

Wordle, the daily brain-teaser acquired by The New York Times in 2022, continues to captivate millions worldwide. Players get six attempts to identify a secret five-letter word, with color-coded feedback: green for correct letter and position, yellow for correct letter in the wrong spot, and gray for absent letters. The puzzle resets daily, encouraging streaks and community sharing of grids via emoji squares.

For March 18’s edition, the answer is **AMPLY**, an adverb meaning “fully,” “sufficiently,” “liberally” or “in abundance.” It derives from “ample,” signifying more than enough quantity or degree. The word features one vowel (A) upfront, no repeats, and uncommon consonants like P, L and Y — factors that contributed to its moderate challenge level.

### Spoiler-Free Hints to Guide Your Solve
If you’re still working on today’s puzzle or want tips for similar future ones without immediate spoilers, here are progressive clues compiled from player reports and official NYT data:

1. The word is an adverb describing sufficiency or generosity in amount.
2. It starts with a vowel and ends with a consonant (specifically Y).
3. No letters repeat; all five are unique.
4. The fourth letter is L, a helpful mid-word anchor once discovered.
5. Common synonyms include “plentifully,” “abundantly” or “generously.”
6. It often appears in phrases like “amply supplied” or “amply rewarded.”

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These hints narrow options without revealing too much. Starting words like SLATE, CRANE or PLATE (popular among pros) frequently eliminate multiple vowels and consonants early. Today’s puzzle rewarded vowel-heavy openers, as the A appeared in position one.

### Full Breakdown and Solution (Spoilers Ahead)
Today’s Wordle answer: **AMPLY**.

– Position 1: A (green early if guessed correctly).
– Positions 2-3: M and P (often yellow initially from words like “maple” or “ample”).
– Position 4: L (a frequent pivot point).
– Position 5: Y (the tricky finisher, as many overlook adverbial Y-endings).

The NYT WordleBot rated it moderately challenging, with average solvers needing about 4-5 guesses. Hard mode players (who must reuse revealed letters) often took longer due to the word’s rarity in everyday speech compared to nouns or verbs.

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Community feedback on platforms like Reddit’s r/wordle described mixed experiences: some nailed it in three guesses after early PLATE or MAPLE attempts, while others burned through attempts on near-misses like “AMPLE” (missing the adverb form) or “APPLY.” No major trap words dominated discussions, though “AMPLY” evaded casual players expecting more common vocabulary.

### Why This Puzzle Stood Out
“AMPLY” represents a classic Wordle archetype: an uncommon but valid English word that rewards broad lexicon knowledge. Unlike recent puzzles heavy on concrete nouns, this adverb demanded thinking beyond basics. It follows yesterday’s answer (CLASP, March 17), continuing a pattern of varied difficulty in mid-March 2026.

The NYT has kept Wordle ad-free and accessible via nytimes.com/games/wordle or the NYT Games app. No major rule changes have occurred since launch, though features like WordleBot analysis and archive access remain popular for post-solve review.

### Tips to Boost Your Wordle Game Long-Term
– Prioritize starters with high-frequency letters (A, E, R, S, T, L).
– Track eliminated letters meticulously.
– Use second guesses to test new vowels and common consonants.
– Avoid rare words early; save them for later slots.
– Practice with variants like Quordle or Worldle for pattern recognition.

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For March 18 solvers who preserved their streak, congratulations — “AMPLY” tested patience without frustration. Tomorrow’s puzzle awaits at midnight. Share your grid (🟩🟨⬛ format) in comments or on social media to compare paths.

As Wordle enters its fifth year of global play, puzzles like #1733 remind fans why the simple format endures: a daily dose of logic, language and just-right challenge.

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Ex-shire executive charged with stealing, fraud

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Ex-shire executive charged with stealing, fraud

A former council deputy chief executive has been accused of stealing and attempting to gain thousands of dollars through fraud and deceit.

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Bentley Motors confirms 275 job losses at Crewe factory as workers left ‘stunned’

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Luxury car maker says it ‘remains strongly committed to Crewe’

Inside Bentley's plant in Crewe, Cheshire

Inside Bentley’s plant in Crewe (Image: Steve Morgan)

Workers at luxury car maker Bentley have been left ‘stunned’ after the company confirmed its intention to cut hundreds of jobs. Union officials said the cuts have ‘come out of the blue’, citing contributing factors such as ‘Trump’s tariffs’ and the continued impact of the covid lockdowns.

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Despite recording an operating profit of £186m in 2025, and a seventh consecutive year of profitability, the company said it planned to cut 275 roles, around 6% of its workforce, by cutting up to 150 staff and not filling vacant positions.

The GMB said Bentley had experienced a 40% year-on-year drop in profits, with GMB organiser Karen Lewis adding: “These cuts have come out of the blue and the workforce is stunned.

“Trump’s tariffs’ have hit Bentley hard and the company is still feeling the affects of the covid lockdown.

“GMB will stand side by side with members in Bentley to ensure the minimum redundancies and the maximum pay outs.”

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Bentley said it remains committed to UK manufacturing,, reports the Liverpool Echo. It confirmed that work continues on the transformation of its Pyms Lane factory, including the ongoing conversion of the site’s oldest building, which will become the future electric vehicle assembly line.

A spokesperson for Bentley said: “Bentley has delivered a seventh consecutive year of profitability while continuing to invest significantly in the transformation of our Pyms Lane site for the next generation of Bentley vehicles, including our first fully electric model.

“As part of ensuring the business remains competitive and prepared for the future, we have begun a consultation programme covering management, agency and non-manufacturing roles, which could result in up to 275 positions being removed from the organisational structure, which equates to approximately six per cent of the organisation.

“These are difficult decisions and our priority is to support any colleagues who may be affected throughout the consultation process.

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“Bentley remains strongly committed to Crewe and continues to invest in the long-term future of luxury car manufacturing at our Pyms Lane site.”

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Last minute save for Modco liquidators’ legal action

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Last minute save for Modco liquidators’ legal action

A legal action by Modco liquidators will progress after a 10-month delay, after a successful eleventh-hour bid to continue the dispute in the Federal Court.

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Iran strikes Tel Aviv with cluster warheads in retaliation for killing of security chief

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Iran strikes Tel Aviv with cluster warheads in retaliation for killing of security chief


Iran strikes Tel Aviv with cluster warheads in retaliation for killing of security chief

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EFG Holding reports 2025 net profit of EGP4.1 billion

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EFG Holding reports 2025 net profit of EGP4.1 billion

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45 Days Later, FBI Pursues DNA Leads in Abduction of Savannah Guthrie’s Mother

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Savannah Guthrie & Nancy Guthrie

TUCSON, Ariz. — More than six weeks after 84-year-old Nancy Guthrie vanished from her home in an affluent Tucson suburb, the investigation into her suspected abduction remains active but without a breakthrough arrest. Pima County Sheriff’s Office and FBI agents continue to analyze evidence, including a mixed DNA sample from the scene and additional surveillance images recovered from her residence, as the case enters its seventh week on March 18, 2026.

Savannah Guthrie & Nancy Guthrie
Savannah Guthrie & Nancy Guthrie

Nancy Guthrie, mother of NBC “Today” show co-anchor Savannah Guthrie, was last seen at her Catalina Foothills home on the evening of Jan. 31, 2026. Family members dropped her off around 9:30 p.m. local time after dinner. She failed to appear at church the next morning, Feb. 1, prompting a welfare check that escalated into a full-scale missing person probe.

Authorities quickly classified the disappearance as an abduction. Drops of blood believed to be hers were found on the front porch. Her doorbell camera was tampered with or disconnected around 1:47 a.m. on Feb. 1, and footage released by the FBI shows a masked, armed individual at the doorstep that night. Investigators believe she was taken against her will in the middle of the night, possibly while in bed. She left behind her cellphone, medications she requires daily for health conditions, and other essentials — factors that heightened concerns for her well-being early on.

The FBI joined the case immediately, establishing a dedicated tip line (1-800-CALL-FBI) and offering an initial $50,000 reward for information leading to her recovery or an arrest. In late February, the Guthrie family announced a separate $1 million reward, payable only upon Nancy’s safe recovery and consistent with FBI guidelines. Savannah Guthrie, her siblings Annie and Camron, and other relatives have made emotional public appeals via social media videos, pleading for tips and insisting “someone knows how to find our mom and bring her home.”

As of mid-March, no ransom has been confirmed paid, despite early speculation about demands. Pima County Sheriff Chris Nanos has said investigators have a theory on motive and believe the home was targeted, though he stopped short of confirming it definitively. He has not ruled out the possibility the perpetrator could strike again. Family members have been cleared as suspects.

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Recent developments include FBI recovery of additional thumbnail images from home security cameras showing people in the yard area before the abduction — but nothing overtly suspicious, sources told outlets including ABC News and CBS News. The images are low-resolution and lack full video. Officials expressed hope in a DNA sample recovered from the scene, describing it as a potential breakthrough for identifying the suspect.

Tip volume surged initially but has tapered, per FBI statements. Investigators have focused on two dates in late January — Jan. 11 and Jan. 24 — and questioned neighbors about nearby construction crews or unusual activity. Experts note the case’s challenges: abductions of elderly individuals are rare (less than 0.2% of reported U.S. kidnappings involve those in their 80s), and the victim’s age complicates survival odds after prolonged captivity without medication.

The disappearance has drawn intense national attention due to Savannah Guthrie’s prominence. Media coverage has included timelines, expert panels on motive theories (ranging from targeted theft to more sinister possibilities), and comparisons to other unsolved cases. Public speculation on forums and social media has ranged from hopeful calls for her return to grim assessments of the odds.

Authorities emphasize the investigation’s ongoing nature. No arrests have been made, and Nancy’s whereabouts remain unknown. Officials urge anyone with information — even seemingly minor details — to contact the FBI anonymously. The family continues to hold out for her safe return while grappling with what experts call “ambiguous loss,” the prolonged grief of uncertainty.

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As Day 46 approaches, the search for Nancy Guthrie stands as a stark reminder of vulnerability even in secure neighborhoods. With forensic leads still under review and a substantial reward outstanding, investigators and loved ones alike cling to hope amid the silence.

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At Close of Business podcast March 18 2026

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At Close of Business podcast March 18 2026

Justin Fris and Mark Beyer discuss Business News’ recent junior miners magazine feature.

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Factbox-Airlines cancel more flights as Middle East conflict escalates

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Factbox-Airlines cancel more flights as Middle East conflict escalates


Factbox-Airlines cancel more flights as Middle East conflict escalates

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Manishi Raychaudhuri sees earnings revival as key for FII comeback in India

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Manishi Raychaudhuri sees earnings revival as key for FII comeback in India
A persistent divergence between foreign and domestic institutional flows continues to define the trajectory of Indian equities, even as valuations begin to look more reasonable after last year’s excesses. While foreign institutional investors (FIIs) remain cautious, steady domestic inflows are providing a crucial cushion to the market.

Speaking on the evolving dynamics, veteran investor, Manishi Raychaudhuri, noted, “Now, the phenomenon that you mentioned that FIIs are selling and they have been selling for last 18 months roughly and the domestic institutions buying, that is not something new. I mean, we have seen this for last 18 to 24 months.”

He added that the sustained outflows from FIIs have been offset by robust domestic participation, particularly through systematic investment plans (SIPs). “The spate of FII selling has been neutralised by this massive systematic investment plans, the SIPs, that continue to come in, almost about $3 billion every month.”

Global Opportunities vs India’s Structural Story

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According to Raychaudhuri, the reluctance of foreign investors is not necessarily a reflection of weakness in India alone, but rather a function of relative attractiveness elsewhere. “The foreign investors have a large firmament, a large universe to choose from and compared to India, they have better choices elsewhere in the emerging market space.”

He pointed to North Asian markets, where themes like artificial intelligence and related capital expenditure remain strong, alongside relatively lower geopolitical risks. “So, it is a combination of stronger growth and slightly lower risk that the FIIs are playing.”
In contrast, domestic institutional investors continue to benefit from a structural shift in household savings. “This is a direct consequence of the financialization that we have seen, it is not recent, it has been there for about last five to seven years.”
Importantly, he believes this trend still has room to run. “Indians are on an average still underinvested in equities… maybe it is still about 85-90-95% of Indian investments would remain focused on the home markets.”
Valuations Cooling, But Earnings Still a Concern
India’s valuation premium, once a major deterrent, has seen meaningful moderation. “At the peak in September 24 India’s price earnings multiple 12-month forward price earnings multiple was 87% higher… The last 15 years average is about 38-39%. And today India’s premium has actually come down below that level.”

He noted that the current premium of around 35–36% makes India relatively more attractive again. However, that alone may not be enough to trigger a strong return of FII flows. “The FII universe as a whole is not biting into this yet simply because the earnings environment is not yet supportive.”

Highlighting global comparisons, Raychaudhuri said, “If you look at last six months… you have Korea right on top… about 80% upgrade… Taiwan… 20-25%… But the Indian consensus EPS estimate… has still declined over the past six months by about 4.5% or so.”

This lag in earnings revisions remains a key overhang.

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Macro Triggers and the Earnings Outlook
The outlook for earnings, in turn, hinges on a mix of fiscal, monetary, and external factors. “At some point this large fiscal stimulus that went in in 2025… will begin to have some effect… but it needs to be more sustained.”

He also indicated room for monetary easing, subject to inflation trends. “The central bank can perhaps afford to cut rates a little more… if we do have a situation where the Middle East situation settles down… we could have this concern about earnings destruction behind us.”

A moderation in crude oil prices toward the $60–70 per barrel range could be particularly supportive.

Can Valuations Hold?
On the question of sustainable valuation levels, Raychaudhuri struck a cautious note. “If you look at last 15 years average one year forward PE for India, it is about 18.8 times.”

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However, he warned that valuations cannot remain elevated without earnings support. “If it remains in single digits, then those high-teens kind of PE are unsustainable.”

He emphasized the importance of reverting to a healthier growth trajectory. “Unless we get back to that situation… nominal GDP growth of about 10% to 12% and therefore corporate revenue and earnings growth of 13% to 14%… it will be difficult for these long range PE multiples to hold on.”

Sectoral Preferences: Banks, Industrials, Consumption
Despite near-term uncertainties, Raychaudhuri remains constructive on select pockets of the market. “Private banks… I have been kind of thumping the table on this for quite some time.”

He also highlighted opportunities in industrials and defence. “Defence expenditure is likely to rise stratospherically across the world… Industrials would also cater to India’s infrastructural ambitions.”

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On the consumption side, he sees broad-based potential. “I would also be looking at consumer discretionaries in India… auto companies… household electronics goods… even some of the hospital and diagnostic chains.”

Additionally, cyclical sectors could offer tactical opportunities. “In the near term some of the cyclical sectors like base metals could also do well.”

IT Under Pressure
One notable exclusion from his preferred list is information technology. “I have stayed away from Indian IT for… almost a year now.”

He believes structural changes driven by artificial intelligence could weigh on the sector. “Indian IT… they are the classic AI losers… the average man-hour rate comes down and therefore the valuations of the IT companies come down.”

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With earnings growth in single digits and valuations still elevated, he added, “They are trading at about 18 to 20 times PE, simply not sustainable.”

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