Denso Cuts Profit Forecast Amid U.S. Tariffs and Rising Costs 
Federal Judge Signals Possible Dismissal of xAI Lawsuit Against OpenAI 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
Sandisk Stock Soars After Blowout Earnings and AI-Driven Outlook 
Google Cloud and Liberty Global Forge Strategic AI Partnership to Transform European Telecom Services 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
Apple Earnings Beat Expectations as iPhone Sales Surge to Four-Year High 
Elon Musk’s Empire: SpaceX, Tesla, and xAI Merger Talks Spark Investor Debate 
Advantest Shares Hit Record High on Strong AI-Driven Earnings and Nvidia Demand 
SoftBank and Intel Partner to Develop Next-Generation Memory Chips for AI Data Centers 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Microsoft AI Spending Surge Sparks Investor Jitters Despite Solid Azure Growth 
Bob Iger Plans Early Exit as Disney Board Prepares CEO Succession Vote 
Apple Faces Margin Pressure as Memory Chip Prices Surge Amid AI Boom 
SanDisk Corporation (NASDAQ: SNDK) delivered a powerful market performance on Monday, soaring 13.3% during regular trading and jumping another 9% after hours. The surge came after S&P Dow Jones Indices announced that the flash-memory leader will be added to the S&P 500 index. SanDisk is set to replace Interpublic Group of Companies Inc. (NYSE: IPG), which is being acquired by Omnicom Group Inc. (NYSE: OMC). The index adjustment becomes effective before the market opens on Friday, November 28.
Investor enthusiasm surrounding SanDisk has been building throughout the month. On November 6, the company reported quarterly earnings that exceeded both revenue and profit expectations, reinforcing confidence in its growth trajectory. The momentum intensified on Monday after Morgan Stanley analyst Joseph Moore boosted his price target on SanDisk to $273 from $263 while reiterating an Overweight rating. This optimistic outlook contributed to stronger trading activity and renewed interest in SanDisk stock, particularly as its inclusion in the S&P 500 positions it for increased visibility among institutional investors and index-tracking funds.
The index reshuffling also affected several other companies. PTC Therapeutics Inc. (NASDAQ: PTCT) will take SanDisk’s former spot in the S&P SmallCap 600, prompting a 4% rise in its shares during after-hours trading. Upwork Inc. (NASDAQ: UPWK) climbed 5.7% after being selected to replace Premier Inc. (NASDAQ: PINC) in the SmallCap 600. Premier is set to be acquired by Patient Square Capital, with the deal expected to close on November 25. First Interstate BancSystem Inc. (NASDAQ: FIBK) also gained 4.8% following news it will replace Hanesbrands Inc. (NYSE: HBI), which is being acquired by Gildan Activewear Inc. (NYSE: GIL) in a transaction anticipated to finalize on December 1.
Overall, the latest S&P index updates sparked notable market reactions, with SanDisk leading the rally as investors respond to its strong earnings, bullish analyst sentiment, and upcoming inclusion in the S&P 500.
