Fabrinet shares rise 5.19% intraday following Wolfe Research upgrade and strong Q2 earnings beat, revenue guidance.

Fabrinet (FN) rose 5.19% intraday after reporting stronger-than-expected Q2 2026 earnings, with revenue of $1.1 billion and basic EPS of $3.14, surpassing guidance. The stock also benefited from a recent upgrade by Wolfe Research and institutional buying by Federated Hermes Inc. Despite competition in manufacturing services, the company highlighted record revenue and strategic growth initiatives, including a bullish outlook driven by high-performance computing demand. These positive developments aligned with the intraday rally, overshadowing prior volatility linked to mixed AI revenue expectations and automotive sector challenges.