Lumentum Shares Turn Lower After Premarket Trading Resumes

Lumentum shares turned lower in Monday premarket trading after climbing as much as 4.2% when trading resumed, as Marvell pursues a $115 billion acquisition of the company. After trading resumed, the stock first extended its gains, then shifted into negative territory. The sequence marks a reversal within the premarket session, with the peak move and later direction both describing Lumentum’s shares. Marvell plans to acquire Lumentum in an all-stock transaction valued at $115 billion. Marvell is making the deal as a bet on the artificial intelligence data-center sector, linking the proposed purchase to AI infrastructure demand.