Western Digital rises as post-earnings rally extends on beat, guidance, and dividend hike
WDC•Western Digital shares are higher as investors continue to buy into the post-earnings rally after a major fiscal Q3 beat and stronger-than-expected outlook. The move has also been reinforced by a dividend increase and a wave of analyst price-target hikes following the results released after April 30.
1. What’s moving the stock today
Western Digital (WDC) is up about 3% in Wednesday trading, extending a multi-day rally that has been driven by investor reaction to its latest fiscal Q3 results and forward outlook. The stock’s momentum has been supported by a combination of a sizable earnings beat, stronger-than-expected guidance, and shareholder-return actions that have kept buyers engaged beyond the initial post-report pop. (investing.com)
