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Sandisk Gains, Reddit Jumps, York Space Systems Sinks on FY Revenue Guidance Cut
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Sandisk (SNDK) shares rise as JPMorgan assigns an overweight rating following the firm’s investor day. Analyst Harlan Sur says Sandisk “is in many respects uniquely positioned to capture the ongoing structural inflection in NAND demand driven by rapid growth in AI inference”
- Reddit (RDDT) shares jump. The social media company is set to join the S&P 500 prior to the opening of trading on Aug. 18, according to a news release. Reddit to replace AvalonBay Communities, which is being acquired by Equity Residential.
- York Space Systems (YSS) shares slump after the space and defense company cut the revenue outlook for the full year. The company also reported adjusted earnings per share and revenue for the second-quarter the missed the average analyst estimate.
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