Western Digital Surrenders Early Gains After Q3 Beat

Western Digital Corp WDC shares are trading higher by $1.60 (2 percent) at $87.51 in Friday's session.

After Thursday's close, the company reported a Q3 adjusted EPS beat of $0.25 along with a slight sales beat. The company guided significantly higher for Q4 EPS and modestly higher for sales.

After a much higher open, Western Digital's stock rallied another $0.37 to $91.00 before profit-takers came in earnest. That marks the highest level for the issue since June 23, 2015 when it peaked at $91.33.

In a free fall, the stock headed lower but found support ahead of the upper-end of Thursday's range ($85.99) at $86.41 and has rebounded back into the $87.00 handle.