Editorial companion

What stands out

SanDisk's investor day set off a rally in memory names, lifting Micron and Western Digital as traders chased signs of a revived cycle, while Workday exploded higher after Reuters reported that private equity firm Silver Lake is in takeover talks. One is an operational update that shifts expectations for an entire supply chain, the other is takeover gossip that can vaporize just as fast as it appears. Both moves are a useful reminder: events, not fundamentals, often drive intraday market leadership, and investors should separate noise from lasting earnings improvement.