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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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December 19, 2014
11:54 EDTMUMicron January volatility elevated at 46 into Q1 and outlook
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07:57 EDTMUMicron January volatility elevated at 46 into Q1 and outlook
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07:42 EDTMUEPAM, WisdomTree added to Franchise Pick list at Jefferies
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December 15, 2014
10:00 EDTSNDKOn The Fly: Analyst Upgrade Summary
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08:14 EDTSNDKSanDisk upgraded to Buy from Hold at Summit Research
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December 12, 2014
06:13 EDTMUMicron in talks to revise supply agreement with Inotera, DigiTimes reports
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December 9, 2014
06:25 EDTMUMicron attempt to renegotiate supply agreement with Inotera, DigiTimes says
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December 8, 2014
07:36 EDTMUMicron December volatility of 31 at low end of historic range
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