Western Digital (WDC) and SanDisk (SNDK) both dropped after earnings as the memory makers slipped despite top-and-bottom line beats. Alex Coffey joins Marley Kayden and Sam Vadas to break down the reports, and he says the earnings conference calls will be important for these companies to clarify guidance and outlook amidst rising memory costs. It was a different story but same result for Applovin (APP) as the company missed revenue estimates, sending shares spiraling downward. Meanwhile, e.l.f. Beauty (ELF) dipped after a beat-and-raise quarter. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

EARNINGS ALERT: WDC, SNDK, APP, ELF

Schwab Network

All right, there we have it. A record for the Dow Jones putting on 262 points. They're up half of 1%. So that was the outperformer for the day. Off the highs, we were up about 600 points or so at the Open, but we still managed to hold on to some of those gains. Very much powered by some of these earnings movers. I mean, Eli Lilly, a nice pop. Disney shares were higher as well. We've obviously seen a lot of that rotation. Technology seemed to lose steam throughout the course of the day. The S&P 500 not 185 points.

We were able to hang on to those gains. Obviously, we've seen four nice sessions. This rally that's continued. The leadership has been back, but we lost some steam today. We couldn't just get it over the line for another day here. So we hit the pause button there on the rally 7723 on the S&P 500. The NASDAQ 100 falling eight tenths down 250 odd points or so. The Russell 2000 also lost some steam there, losing altitude to the tune of six tenths of 1%. Technology lost some steam as well. Com services were down.

Discretory was high as I mentioned, benefiting from some of that rotation. Staples were on the line there. I should say actually across the Mag 7, just looking at how that finished. Interesting day actually. A lot of flip-flopping meta pushed higher just into the close there. So did Apple, which was interesting, joining Nvidia, which had been mostly the only green on the session, particularly in the afternoon.

EARNINGS ALERT: WDC, SNDK, APP, ELF

Read the full transcript

The candid version is on a podcast,
not the earnings call.

EARNINGS ALERT: WDC, SNDK, APP, ELF

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.