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News Breaks | | | | June 21, 2012 | | 10:12 EDT |  | MU, SNDK | Micron falls after profits miss expectations, but firms remain upbeat
Micron (MU), which develops flash memory products, is retreating after reporting last night higher than expected sales and lower than expected profits for its third quarter. However, several analysts remain positive on the company's outlook. Micron said that its revenue growth was primarily generated by higher DRAM flash memory sales volumes. Margins, which were flat compared with the previous quarter, were pressured by lower NAND flash memory margins, the company added. However, Micron believes that new products it's developing, including solid-state drives for enterprises, will boost its margins in the future. A number of research firms maintained a positive outlook on Micron following the company's results. In a note to investors this morning, Wells Fargo wrote that Micron's "solid revenue dynamic" is far more important than its near-term margin weakness. The firm maintained a $10-$12 valuation range and an Outperform rating on the stock. Meanwhile, another research firm, Robert W. Baird, wrote that Micron's fundamentals continue to improve. The firm, which maintained an Outperform rating on the shares, believes the company is well positioned to benefit from growth trends in NAND flash memory and consolidation in the DRAM industry. In early trading, Micron fell 23c, or 3.76%, to $5.89. SanDisk (SNDK), which also develops flash memory products, gave back 1.23% to $37.01. | |
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News For MU;SNDK From The Last 14 Days Check below for free stories on MU;SNDK the last two weeks. |
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| May 20, 2013 | | 11:58 EDT |  | SNDK | SanDisk, Attunity outlook bullish, Globes columnist writes
 Subscribe for More Information | | | 10:11 EDT |  | SNDK | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Artisan Partners (APAM) downgraded to Market Perform from Outperform at Keefe Bruyette... Bank of America (BAC) downgraded to Market Perform from Outperform at Keefe Bruyette... Bed Bath & Beyond (BBBY) downgraded to Hold from Buy at Jefferies... BlackRock (BLK) downgraded to Market Perform from Outperform at Keefe Bruyette... Cavium (CAVM) downgraded to Market Perform from Outperform at JMP Securities... Charles Schwab (SCHW) downgraded to Underperform from Market Perform at Keefe Bruyette... Dunkin' Brands (DNKN) downgraded to Neutral from Buy at Longbow... Equifax (EFX) downgraded to Neutral from Buy at Goldman... Leap Wireless (LEAP) downgraded to Sell from Hold at Deutsche Bank... Lowe's (LOW) downgraded to Perform from Outperform at Oppenheimer... MicroStrategy (MSTR) downgraded to Market Perform from Outperform at JMP Securities... NetApp (NTAP) downgraded to Underperform from Neutral at RW Baird... NeuStar (NSR) downgraded to Neutral from Buy at Goldman... Red Hat (RHT) downgraded to Market Perform from Outperform at BMO Capital... Ruby Tuesday (RT) downgraded to Market Perform from Outperform at Wells Fargo... Synovus (SNV) downgraded to Sell from Neutral at Goldman... TD Ameritrade (AMTD) downgraded to Underperform from Market Perform at Keefe Bruyette... Thoratec (THOR) downgraded to Neutral from Buy at Goldman... CF Industries (CF) downgraded to Hold from Buy at Miller Tabak... Children's Place (PLCE) downgraded at Susquehanna... CarMax (KMX) downgraded to Market Perform from Outperform at William Blair... SanDisk (SNDK) downgraded to Neutral from Buy at Nomura... Red Hat (RHT) downgraded at BMO Capital... Rex Energy (REXX) downgraded to Hold from Buy at Stifel... Range Resources (RRC) downgraded to Hold from Buy at Stifel... Kansas City Southern (KSU) downgraded to Sell from Hold at Stifel... Capella Education (CPLA) downgraded to Hold from Buy at Stifel. | | | 07:41 EDT | | SNDK | SanDisk downgraded to Neutral from Buy at Nomura
Subscribe for More Information | | | May 17, 2013 | | 06:07 EDT | | MU | Mobile DRAM revenue fell 5% in Q1, DigiTimes reports
Subscribe for More Information | | | May 16, 2013 | | 08:19 EDT |  | MU | Court decision should hasten Micron takeover of Elpida, says Sterne Agee
Sterne Agee believes that a decision by a Japanese court dismissing appeals from the two unsecured creditors to the Elpida consolidation process should enable Micron to close its Elpida acquisition much more quickly than some had feared. The firm views this development as very positive for Micron and keeps a Buy rating on the stock. | | | 07:26 EDT |  | SNDK | JPMorgan to host a conference
41st Annual Global Technology, Media & Telecom Conference is being held in Boston on May 14-16 with webcasted company presentations to begin on May 16 at 8 am; not all company presentations may be webcasted. Webcast Link | | | 05:32 EDT | | MU | Micron announces issuance by Tokyo Court of order dismissing creditor appeals
Subscribe for More Information | | | May 13, 2013 | | 07:29 EDT | | MU | Skillsoft to host a conference
2013 Global Skillsoft Perspectives Learning Industry Conference is being held in Orlando, Florida on May 13-16. | |
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