A TON OF THINGS HAPPENED IN THE STOCK MARKET TODAY. Here's a full recap: 1. SanDisk $SNDK reported Q4 revenue of $8.97B, beating estimates of $8.6B, up 372% YoY and 51% QoQ. Adjusted EPS came in at $39.25 versus $34.45 expected, while adjusted gross margin reached 84.6%, above estimates of 81.5%. Datacenter revenue jumped 103% QoQ to $2.98B, Edge revenue rose 48% QoQ and 392% YoY to $5.43B, while Consumer revenue declined to $556M. For Q1’27, SanDisk guided revenue of $10.3B–$10.8B, below the $11.1B estimate, with adjusted EPS of $44.00–$46.00. The company also announced a new $14B buyback authorization, bringing total remaining repurchase capacity to $15.5B. 2. President Trump warned Iran that if it backs out again, “they’re going to get hit really hard,” adding that the U.S. has “no choice” because Iran cannot be allowed to obtain a nuclear weapon. He also said the Strait of Hormuz will be reopened very soon, either through an agreement or by force, saying, “the Strait is going to be open very soon — or they’re gonna hit very hard.” 3. China’s gold-backed ETFs have seen 14 straight days of inflows through Monday, their longest streak since March. Over that stretch, the funds attracted roughly $1.2B, including a largest single-day inflow of $370M. The rebound follows a sharp reversal after Chinese gold ETFs posted outflows in 38 of 44 trading sessions. The renewed demand comes as volatility in China’s equity market pushes investors, especially institutions, back toward alternative assets. Gold was up about 4% today. 4. U.S. job openings fell by 178,000 in June to 7.36M, the lowest level since March and the second straight monthly decline. Openings are now down 226,000 over the past two months, led by drops in private education and health services (-133,000), leisure and hospitality (-86,000), wholesale trade (-74,000), and professional and business services (-71,000). Even with the slowdown, there are still 265,000 more job openings than unemployed workers, the second-largest gap since January 2025. The job openings-to-unemployed ratio remains at 1.0, its highest level since January 2025. 5. Situational Awareness is reportedly back to investing with a new $400M bet in a privately held company, according to Bloomberg. The investment comes shortly after Leopold Aschenbrenner’s hedge fund nearly collapsed under a wave of margin calls from lenders last week, following a sharp unwind in its heavily levered AI bets. 6. The top 10 most active options today by contracts traded were $NVDA with 6.2M contracts, $SPCX with 2.2M contracts, $TSLA with 2.0M contracts, $AAPL with 1.5M contracts, $AMZN with 1.0M contracts, $AMD with 1.0M contracts, $MU with 942K contracts, $GOOGL with 941K contracts, $INTC with 801K contracts, and $MSFT with 712K contracts. 7. Microsoft $MSFT generated $24.1B in sales from OpenAI during the fiscal year ended June, representing roughly 70% of its actual AI revenue, according to disclosures cited by Bloomberg. The figure highlights how deeply Microsoft’s AI growth is tied to OpenAI usage and infrastructure demand. 8. Shopify $SHOP reported Q2’26 revenue of $3.58B, beating estimates of $3.45B, up 34% YoY. GMV rose to $115.6B versus $112.12B expected, while operating income increased 68% YoY to $488M and MRR came in at $221M. Subscription Solutions revenue grew to $802M, Merchant Solutions revenue reached $2.78B, gross profit rose to $1.71B, and free cash flow came in at $654M with an 18% FCF margin. For Q3, Shopify guided revenue growth in the low-thirties % YoY, gross profit dollar growth in the mid-to-high twenties %, and FCF margin in the high-teens to low-twenties % range. Management said Shopify delivered more than 30% growth across GMV, revenue, gross profit, and free cash flow, with GMV strength broad-based across merchant sizes, channels, and geographies. 9. Raymond James is sticking with its Strong Buy rating and $800 12-month price target on SpaceX $SPCX, despite the stock trading down after-hours. The firm said SpaceX “handily exceeded” Q2 expectations, with revenue of $7.8B, up 92% YoY, beating by roughly $1B across every modeled segment. Adjusted EBITDA came in at $3.5B, well above the firm’s $1.99B estimate, with margins expanding to 44.9%. Backlog reached a record $47.5B, compute capacity increased to 1.4GW, and management advanced its internal $1T revenue framework by one year to 2030, reflecting accelerating AI demand. Raymond James said the near-term selloff reflects market friction and the upcoming lockup release, but believes fundamentals remain strong and forecasts are biased meaningfully higher. 10. $GOOGL Google’s AI leadership is reportedly undergoing a major reshuffle. Demis Hassabis is leaving his role as CEO of Google DeepMind to become chairman of the unit, while also adding the title of chief scientist at Alphabet and continuing to lead Isomorphic Labs. Google DeepMind CTO Koray Kavukcuoglu will become senior VP of the unit, reporting to Sundar Pichai. Meanwhile, longtime Google AI leader Jeff Dean is leaving to start Discovery Loop, an independent public benefit corporation backed by Google, alongside Sanjay Ghemawat, Oriol Vinyals, and Quoc Le. The shakeup comes as Google faces intensifying pressure to keep pace with OpenAI and Anthropic in frontier AI. 11. Zeta $ZETA closed up 12% at a 52-week high as analysts raised price targets following the company’s latest updates. KeyBanc increased its target to $27 from $22, Morgan Stanley raised to $25 from $23, and William Blair maintained a Buy rating. Analysts highlighted that the newly signed Palantir partnership is already producing results, with two agreements signed and more in the pipeline. They also pointed to early traction for Athena, especially among customers with over $1M in ARPU, driving higher usage and retention across the platform. 12. CoreWeave $CRWV signed a multi-year agreement with Solidigm, the SK hynix subsidiary, giving the company priority access to enterprise SSD capacity as AI cloud demand continues to scale. The deal helps CoreWeave secure critical storage supply for large AI workloads, reinforcing how infrastructure demand is expanding beyond GPUs into memory, networking, and high-performance storage. WALL STREET IS THE GREATEST SHOW ON EARTH.
