Data storage company Sandisk (SNDK) easily beat top and bottom line estimates in its just-released fiscal fourth-quarter earnings report.
First-quarter revenue guidance, though, was just $10.3-$10.8 billion versus Street forecasts for $10.8 billion; EPS guidance was for $44-$46 against estimates for $45.58.
Shares are lower by 3.7% in after-hours trading. They slipped 5.4% during the regular session Wednesday.
Since being spun out of Western Digital in early 2025, SanDisk had been on a remarkable run, rising more than 50-fold to more than $2,300 per share earlier this summer. The stock has since retreated to the current $1,315.
Western Digital (WDC), meanwhile, also reported its quarter and guidance, and topped estimates for both. Shares, however, are slipping 9% in after-hours action.
Copper continues its big run higher, rising more than another 1% today to $6.75 per pound, a new record.
Old-timers used to call the red metal “Dr. Copper” as its supposed predictive abilities made it the only commodity with a PhD in economics.
If so, copper’s big rise in recent weeks — it stood at about $5.00 per pound four months ago — suggests plenty of strength in the global economy and continued inflation in the pipeline.
Other factors could be at work, though. In particular, the threat of President Trump imposing import tariffs on copper, and U.S. consumers of the metal rushing to get their hands on available supply ahead of that action, according to Mining.com.
Flatlining along with bitcoin for the past several weeks, gold is catching a major bid on Wednesday, rising 4% to its highest level since mid-June at $4,317 per ounce.
The news that appears to be benefiting gold — some modest U.S. dollar weakness and a slight backtrack from the recent rise in interest rates — isn’t really spreading to crypto.
Though up a bit on Wednesday, bitcoin remains stuck in the same tight range below the $65,000 level that it’s spent the whole summer in so far.
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