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Sandisk (SNDK) Q3 revenue shatters estimates as it surges 252%. (00:18) Apple (AAPL) slips as iPhone revenue nears $57B during Q2; ups dividend, adds $100B buyback. (01:17) Blue Owl (OWL) sold half of SpaceX's stake at a $1.25T valuation. (02:41)

This is an abridged transcript.

Sandisk (SNDK) released its third quarter fiscal 2026 financial results post-market on Thursday, which shattered estimates.

For the quarter ended March 31, it reported adjusted earnings per share of $23.41 versus the consensus estimate of $14.66.

Revenue for the third quarter increased 252% year over year to $5.95B, which was much more than the $4.73B estimate.

Looking ahead, Sandisk expects fourth-quarter revenue to range from $7.75B to $8.25B and adjusted EPS to range from $30 to $33. The consensus estimate expected revenue of $6.65B and EPS of $23.38.

SNDK is down 6% premarket and up +3,300% year to date.

Apple (AAPL) is up 3% in premarket action after reporting quarterly results that were above Wall Street's forecast.

Apple said it earned an adjusted $2.01 per share as revenue rose 17% year-over-year to come in at $111.18B. Revenue related to the iPhone came in at $56.99B, slightly above the $56.98B estimate. Overall product revenue was $80.21B, slightly above the $79.26B estimate.

Analysts had expected the company to earn an adjusted $1.96 per share on $109.66B in revenue.

Seeking Alpha analyst YR Research said that Apple showed “sustained elevated growth levels, as expected.” However, next quarter will be the “real test,” as it comes to tougher comparisons, with the impact of the newly released MacBook Neo considered “critical.”

In addition to the quarterly results, Apple upped its quarterly dividend 4% to $0.27 per share. The next payment will be made on May 14 to shareholders of record as of the close of May 11.

The board of directors also authorized an additional program to repurchase up to $100B in common stock.

Blue Owl Capital (OWL) co-CEO Marc Lipschultz said that the company has sold about half of its stake in SpaceX (SPACE).

"We made about 10x our money," and "we’ve sold about half of it at a $1.25 trillion valuation," Lipschultz said on an earnings call, still holding about half of it.

Blue Owl (OWL) was among SpaceX’s earliest lenders and later converted its exposure into an equity investment, Lipschultz said.

The initial investment was made in 2021 through Blue Owl Technology Finance (OTF), with ~$27M deployed. The position had grown to about $195M in fair value by the end of 2025.

Separately, another Blue Owl-managed vehicle, Blue Owl Capital Corporation (OBDC), also held a smaller stake in SpaceX valued at about $21.7M at the end of 2025.

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• Farmer Brothers (FARM) will hold a special shareholder meeting to vote on the company's merger with Royal Cup.

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Stock index futures are mixed as Wall Street kicks off the month of May.

Crude oil is up 0.3% at $105. Bitcoin is up 1.1% at $77,000. Gold is down 1.2% at $4,567.

The markets in China, Hong Kong, India, Germany and France all closed on Friday due to a holiday.

The biggest movers for the day premarket: Roblox (RBLX) -23% - Shares plunged after reporting mixed Q1 results, with revenue rising 39% Y/Y to $1.4B and bookings up 43% to $1.7B, both slightly below estimates.

Economic calendar:

• 9:45 am PMI Manufacturing Final

• 10:00 am ISM Manufacturing Index