New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
November 28, 2014
07:04 EDTSNDK, MUDRAM market to grow 34% in 2014, says JPMorgan
Subscribe for More Information
06:12 EDTMUMicron implied volatility of 31 at lower end of index mean range
Subscribe for More Information
November 26, 2014
06:10 EDTMUMicron implied volatility of 31 at lower end of index mean range
Subscribe for More Information
November 24, 2014
08:33 EDTMUMicron estimates raised on solid DRAM demand at Goldman
Subscribe for More Information
November 19, 2014
10:29 EDTMU, SNDKGoogle now top competitor to Apple, Jefferies says
Subscribe for More Information
08:08 EDTSNDKSanDisk Ventures announces investment in Altair Semiconductor
Subscribe for More Information
November 18, 2014
09:56 EDTSNDKOn The Fly: Analyst Initiation Summary
Subscribe for More Information
08:18 EDTSNDKSanDisk initiated with a Buy at BTIG
Subscribe for More Information
08:13 EDTMUMicron announces CFO Foster to retire in 2015
Subscribe for More Information
05:58 EDTMUMicron implied volatility of 32 at lower end of index mean range
Subscribe for More Information
November 17, 2014
09:36 EDTMUActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
06:08 EDTMUMicron implied volatility of 33 at lower end of index mean range
November 14, 2014
16:52 EDTMUGreenlight Capital gives quarterly update on stakes
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use