Today’s Top Stories: Wall Street Mixed as SpaceX, Sandisk, Datadog and Oil Make Headlines

TLDR

• SpaceX shares slid after its IPO lock-up period expired, opening the door for insider selling
• SanDisk and Western Digital beat earnings but issued cautious guidance, dragging chip stocks lower
• Oil climbed back above $80 per barrel on demand optimism and Middle East uncertainty
• Datadog fell despite strong revenue growth and raised full-year guidance
• Investors are growing more selective, punishing weak outlooks even when earnings beat expectations

Wall Street closed mixed on Thursday as investors weighed a wave of earnings reports, rising oil prices and fresh pressure on technology stocks. No single theme dominated, but the session made clear that traders are in a more cautious mood as earnings season winds down.

SpaceX Shares Drop After Lock-Up Expiry

SpaceX shares fell after the company’s IPO lock-up period expired. That expiry lets early investors, employees and insiders sell shares they were previously barred from selling.

Lock-up expirations do not change a company’s business. But they increase the number of shares that could hit the market, which often creates short-term selling pressure.

… Continue reading the full article at the original source below.