Sandisk stock falls despite strong earnings report as investors 'sell the news' after powerful rally
What happened: Sandisk (SNDK) stock fell more than 6% in premarket on Friday. What’s behind the move: Investors appeared to “sell the news” after the memory chipmaker posted strong beats on the top and bottom lines in its fiscal third quarter. Revenue of $5.95 billion increased from $4.72 billion, and the company’s adjusted earnings of $23.41 per share sailed past Wall Street expectations of $14.51. Sandisk sees fourth quarter revenue in the range of $7.75 billion to $8.25 billion, above a consensus esti ...