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Stock Market & Financial Investment News

News Breaks
June 23, 2014
14:27 EDTSNDK, MUEarnings Preview: Analysts bullish on Micron results, outlook
Micron (MU) is expected to report third quarter earnings after the close on Monday, June 23, with a conference call scheduled for 4:30 pm ET. Micron manufactures semiconductor devices, principally Dynamic Random Access Memory, or DRAM, NAND Flash and NOR Flash memory. EXPECTATIONS: Analysts are looking for earnings per share of 70c on revenue of $3.89B. The consensus range is 58c-79c for EPS on revenue of $3.75B-$4.29B, according to First Call. LAST QUARTER: Micron reported second quarter EPS, excluding certain gains, of 85c, compared to the 76c consensus estimate of analysts. Micron's quarterly revenue of $4.11B beat expectations for $3.99B. Revenues from sales of Trade NAND Flash products were 11% higher sequentially, primarily due to a 35% increase in sales volume offset by an 18% decrease in average selling prices. Revenues from sales of DRAM products were essentially unchanged in Q2 compared to the prior quarter, as both sales volumes and average selling prices remained stable. The company's overall consolidated gross margin was 34% in the quarter, compared to 32% in the prior quarter, as a result of a higher DRAM gross margin. STREET RESEARCH: The supply/demand dynamics for Micron and SanDisk (SNDK) are more favorable than Bank of America Merrill Lynch had previously believed, analyst Simon Dong-je Woo wrote in a note to investors on June 11. 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 "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 at the time and upgraded the stocks two notches to Buy from Underperform. In a note sent two day's later, Sterne Agee said it expected the results for Micron's May quarter to be strong and predicted that the company's guidance for its August quarter will be stronger. The firm, which expects the company's August quarter results to be boosted by a turnaround in key NAND-DRAM margins, raised its price target on the stock to $38 from $32 and kept a Buy rating on the name. Most recently, RBC Capital said it thinks that Micron benefited from healthy demand trends and gross margin expansion in Q3. The firm raised its price target on the stock to $38 from $34 on June 20 and kept its Outperform rating on the shares. PRICE ACTION: Since the day after last quarter's report, shares of Micron have advanced about 30%. Ahead of tonight's report, Micron was down about 0.5% to $31.69 in afternoon trading.
News For MU;SNDK From The Last 14 Days
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September 1, 2015
09:41 EDTSNDK, MUDRAM prices likely to continue to fall, says Cleveland Research
Cleveland Research's channel checks indicate PC DRAM pricing is likely to continue to decline on a contract basis to approximately $17 by year end, along with server and mobile pricing. The firm's contacts indicate DRAM demand remains weak with no real indications of a rebound and supply remains in excess. Cleveland remains cautious on Micron and the DRAM market, and sees additional downside to consensus estimates.
04:45 EDTSNDKStocks with implied volatility movement; BABA SNDK
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August 31, 2015
16:00 EDTMUOptions Update; August 31, 2015
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13:29 EDTMUMicron volatility elevated
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12:09 EDTSNDKSanDisk jumps as buyout rumors resurface
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11:21 EDTMUTsinghua open to Micron partnership if deal not reached, dealReporter says
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10:58 EDTSNDKSanDisk September weekly calls active on takeover speculation
SanDisk September 54 and 55.5 weekly calls are active on total call volume of 9K contracts (1K puts) on takeover speculation. September weekly call option implied volatility is at 62, September is at 50, October is at 47; compared to its 52-week range of 24 to 61. Active call volume suggests traders taking positions for upside price movement.
10:57 EDTMUAnalyst calls end to PC downturn, upgrades Intel
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10:54 EDTSNDKOptions with decreasing implied volatility: UVXY VIX SVXY VXX SQQQ SRPT TQQQ ME
10:53 EDTSNDKSanDisk off lows amid takeover speculation
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09:07 EDTSNDKB. Riley to hold a tour
Silicon Valley Tech Tour travels throughout the Silicon Valley visiting various local tech companies on August 31-September 3.
08:07 EDTSNDKSanDisk unveils data service for VMware vSphere with FlashSoft
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05:50 EDTMUStocks with implied volatility movement; MRO MU
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August 28, 2015
08:03 EDTMUMicron management to meet with MKM Partners
Meetings to be held in Connecticut on September 3 and in New York on September 4 hosted by MKM Partners.
06:10 EDTMUTsinghua Unigroup chairman meets with Micron board members, Reuters says
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August 27, 2015
15:19 EDTMUOptions Update; August 27, 2015
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11:30 EDTMUStocks with call strike movement; MU MRO
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05:53 EDTMUIC demand for notebooks picking up, DigiTimes reports
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August 26, 2015
07:52 EDTSNDKUBS to hold a tour
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August 23, 2015
14:23 EDTMUApple, Micron shares look like bargains, Barron's says
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