Stocks have been relatively quiet throughout much of this week, as investors try to parse through conflicting economic data and uncertainties about the future of the COVID-19 pandemic and central bank monetary policy. However, Thursday morning brought some new excitement, and that helped push stock market index futures higher in the premarket session. As of 8:15 a.m. EDT, futures on the Dow Jones Industrial Average (^DJI -0.93%) were up 64 points to 35,354. S&P 500 (^GSPC -0.71%) futures were up 9 points to 4,530, and Nasdaq Composite (^IXIC -0.81%) futures picked up 44 points to 15,653.

Although the peak of earnings season happened more than a month ago, a host of cutting-edge companies have chosen to release their results later than most. When those innovative stocks do well, they can push the entire market higher -- and this morning, shares of ChargePoint Holdings (CHPT -4.85%) and Ciena (CIEN -0.52%) were among the big drivers of bullish sentiment. Below, we'll look at what they told shareholders and what the future might hold for their businesses.

ChargePoint gets a jolt

Shares of ChargePoint Holdings surged higher by 16% in the premarket session. The gains were a welcome reversal from what's happened to the electric vehicle stock recently, as the share price had fallen more than 40% coming into Thursday morning's trading since late June.

Person and child charging an electric vehicle.

Image source: Getty Images.

ChargePoint's second-quarter financial report showed solid revenue growth and good prospects for the future. Sales jumped 61% year over year during the period, as networked charging revenue was higher by more than 90% from the year-ago quarter. ChargePoint highlighted growth in its EV charging networks in both North America and Europe, and contributions came from all three of its segments, including commercial customers, fleet vehicles, and residential auto owners.

In addition, ChargePoint now expects its full 2022 fiscal year to go better than expected. The company boosted its sales guidance by $30 million, projecting a new range of $225 million to $235 million. Just about the only downbeat news was that ChargePoint's losses widened from year-ago levels, but investors took that in stride as par for the course for innovative high-growth companies.

Increasingly, EV owners are demanding that businesses and employers have charging infrastructure available to ease their commutes, and ChargePoint's products have seen rising demand as a result. That trend is almost certain to continue, and that bodes well for ChargePoint's long-term performance.

Ciena moves up

Meanwhile, shares of Ciena were up nearly 6% in premarket trading Thursday morning. The networking stock is approaching levels not seen since the tech bust of the early 2000s, and investors are increasingly excited about its long-term potential.

Ciena's fiscal third-quarter results were somewhat mixed but still showed its continuing progress in taking full advantage of the 5G wireless network upgrade cycle. Revenue of $988 million was up around 1% from the year-ago period. A one-time tax benefit helped boost net income significantly year over year, although after accounting for that item, adjusted earnings of $0.92 per share were down 13% from the third quarter of fiscal 2020.

Geographically, Ciena saw some disparities across regions. The Americas saw sales slide, while Europe and the Asia-Pacific region saw sizable revenue gains. A big rise in services revenue offset declines on the product side of the business.

Ciena's networking systems are playing a key role in helping businesses take advantage of 5G and other technological advances in the network industry. With companies aiming to continue their digital transformations, Ciena should enjoy tailwinds well into the future.