Western Digital Posts Better-Than-Expected Earnings, Joins Wingstop, Qorvo, Seagate And Other Big Stocks Moving Higher On Wednesday

U.S. stocks were lower, with the Dow Jones index falling around 200 points on Wednesday.

Shares of Western Digital Corporation WDC rose sharply during Wednesday’s session after the company reported better-than-expected third-quarter adjusted EPS results and issued fourth-quarter adjusted EPS guidance above estimates.

Western Digital reported quarterly earnings of $1.36 per share which beat the analyst consensus estimate of $1.13 per share. The company reported quarterly sales of $2.29 billion which missed the analyst consensus estimate of $2.36 billion.

Additionally, the company declared a quarterly dividend of $0.10 per share.

Western Digital jumped 6.5% to $43.24 on Wednesday.

Here are some other big stocks recording gains in today’s session.

• Regencell Bioscience Holdings Limited RGC jumped 59% to $50.14.
• Oddity Tech Ltd. ODD gained 18.8% to $55.99 after the company reported better-than-expected first-quarter financial results and raised its FY25 guidance.
• Concord Medical Services Holdings Limited CCM gained 16.6% to $9.15.
• Cantor Equity Partners, Inc. CEP jumped 15.5% to $37.81.
• Silicon Motion Technology Corporation SIMO jumped 14.6% to $51.78 after the company reported better-than-expected quarterly financial results.
• Global Industrial Company GIC gained 14.1% to $25.31 after the company reported better-than-expected quarterly financial results.
• Wingstop Inc. WING jumped 10.7% to $255.26 following upbeat quarterly earnings.
• Qorvo, Inc. QRVO gained 10.6% to $69.33 after the company reported better-than-expected fourth-quarter financial results and issued first-quarter guidance with its midpoint above estimates.
• Seagate Technology Holdings plc STX gained 9.2% to $89.21 following third-quarter results.
• Trane Technologies plc TT gained 7.6% to $380.43 after the company reported better-than-expected first-quarter financial results and raised its FY25 GAAP EPS and sales guidance above estimates.
• XPO, Inc. XPO jumped 7.5% to $104.78 after the company reported better-than-expected quarterly EPS results.
• The Chefs’ Warehouse, Inc. CHEF gained 7% to $57.00 following upbeat earnings.
• Gildan Activewear Inc. GIL rose 6.2% to $45.56 following strong quarterly earnings.
• PPG Industries, Inc. PPG gained 3.7% to $107.68 after the company reported better-than-expected quarterly financial results.

Now Read This:

Photo via Shutterstock