Stock Market Today: CBRS Slides, SNDK Lofty Guidance, WDAY Best Day Ever

**Marley Kayden** (0:00)
Welcome to The Wrap, I'm Marley Kayden, here to take you through today's market action. The S&P 500 and Russell 2000 both closed at record highs, with the S&P up two-thirds of a percent, the Russell up a quarter of a percent. The NASDAQ led markets to the upside though, rallying 1.2 percent on the session, the Dow tacked on a tenth of one percent. As we turn to take a look at some of the biggest tech headlines today, Cerebras plunged just shy of 12 percent on a mixed earnings report, its second since its May IPO. The company beat on the bottom line, but $180 million in sales missed the $194 million bar set by Wall Street. However, the company raised its full year revenue estimates to between $880 and $890 million, up from previous expectations of $855 to $865 million. SanDisk closed as the second best performer in the S&P 500 after announcing it sees revenue growing in the mid to high teens percentage range between fiscal 2028 and 2030 It also expects the adjusted margins during that period to be 80%.
SanDisk CFO announcing plans to return all excess cash to shareholders quote, after investing in the business. Shares of the Memory chipmaker rallied 13% today and remain more than 3100% higher over the last 12 months.
The best performer on the S&P today, Workday. The stock had its best public trading day ever, rallying almost 18% after reports said that private equity firm Silverlake seeks to buy the human resources software platform. The amount behind the acquisition has not been disclosed. Watch for the latest economic data on retail sales, business inventories and consumer sentiment tomorrow morning, but that is going to do it for the rep. I'm Marley Kayden. Remember you can tune in 24-7 to schwabnetwork.com and subscribe to our YouTube channel.