Expedia, Block, Western Digital, & Sandisk All Report Results | Closing Bell

Summary

Markets faded from record highs as major earnings from Expedia and Shopify impressed, while Western Digital and SanDisk declined after hours despite beats, reflecting high expectations. Hosts flagged demand sustainability in memory chips and AI adoption impacts, with Nvidia gaining on a SpaceX AI chip deal.

• S&P 500 and Nasdaq fell modestly after yesterday's record; Dow hit a new high.
• Expedia beat Q2 estimates and raised full-year revenue guidance, shares up slightly after hours.
• Shopify surged 17% after a strong revenue outlook, easing AI disruption fears.
• Block reported mixed results with Q3 operating income above consensus, shares flat in after-hours.
• Western Digital beat on revenue and EPS but shares fell 12% after hours on cautious forecast and high expectations.
• SanDisk posted strong sequential revenue growth but stock dropped 5% in after-hours trading.
• Nvidia advanced 3.4% after SpaceX announced exclusive use of Nvidia AI chips.
• Hosts discussed whether high-multiple growth names face risk and long-term demand for memory storage.