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Stock Market & Financial Investment News

News Breaks
June 11, 2014
13:43 EDTMU, SNDKMicron, SanDisk climb after two notch upgrades at BofA/Merrill
Shares of memory technology developers Micron (MU) and SanDisk (SNDK) are rising after Bank of America Merrill Lynch upgraded its rating on both stocks two notches to Buy from Underperform in a note to investors earlier today. WHAT'S NEW: The supply/demand dynamics for Micron and SanDisk are more favorable than BofA/Merrill had previously believed, an analyst at the firm, Simon Dong-je Woo, wrote. Among the reasons for the change in the firm's outlook are higher memory content in laptops and tablets made in China and more aggressive promotion of flash storage by data/network operators. Meanwhile, hurdles will prevent new memory supplies from causing a glut in the market, Woo believes. Both companies should report in-line Q2 results and "upbeat" results in the second half of 2014 and in 2015, the analyst forecast. He increased his price target on Micron to $40 from $22 and on SanDisk to $125 from $80. WHAT'S NOTABLE: Also upbeat today on Micron was Credit Suisse analyst John Pitzer. The company should benefit from strong demand for its DRAM memory technology from companies and other organizations, driven by the proliferation of data tool, Pitzer contended in a note to investors earlier today. He raised his price target on the stock to $50 from $30 and kept an Outperform rating on the shares. PRICE ACTION: In mid-afternoon trading, Micron rose 5.5% to $31 and SanDisk gained 3% to $100.
News For MU;SNDK From The Last 14 Days
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August 22, 2014
05:44 EDTSNDKStocks with implied volatility below IV index mean; SNDK WAG
Stocks with implied volatility below IV index mean; SanDisk (SNDK) 23, Walgreen (WAG) 20 according to iVolatility.
August 21, 2014
10:17 EDTMUStocks with call strike movement; MU HTZ
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08:49 EDTSNDKSanDisk gross margins to get boost from FIO, says Sterne Agee
Sterne Agee expects SanDisk's gross margins to be boosted from the integration of the FIO Enterprise SSD unit, whose acquisition closed on July 23. The firm adds that the company's new Malaysia factory should drive its tax rate lower over time. Sterne Agee keeps a $125 price target and Buy rating on the shares.
06:12 EDTMU, SNDKDRAM prices making downward correction with oversupply concerns, DigiTimes says
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05:50 EDTSNDKStocks with implied volatility movement; QCOM SNDK
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August 14, 2014
10:13 EDTMUDRAM prices to see 'continuous reduction,' DRAMeXchange says
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August 13, 2014
10:12 EDTMUMicron management to meet with Needham
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06:02 EDTSNDKStocks with implied volatility below IV index mean; SNDK KMP
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August 12, 2014
14:28 EDTMUPacific Crest remains on the sidelines of Micron
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August 11, 2014
07:50 EDTMUMicron pullback creates buying opportunity, says Jefferies
Jefferies attributes the recent pullback in shares of Micron to Samsung's DRAM bit growth commentary and Micron's guidance for higher capital expenditures in FY15. Jefferies expects favorable DRAM supply/demand balance to continue through 2015 and thinks Micron will continue to see near-term pricing power. The firm recommends buying the stock at current levels and keeps a Buy rating on Micron with a $38 price target.
06:09 EDTSNDKStocks with implied volatility below IV index mean; GPRO SNDK
Stocks with implied volatility below IV index mean; GoPro (GPRO) 68, SanDisk (SNDK) 27 according to iVolatility.

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