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Stock Market & Financial Investment News

News Breaks
December 12, 2013
06:11 EDTMUMicron upgraded to Buy from Neutral at Nomura
News For MU From The Last 14 Days
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April 17, 2014
11:36 EDTMUSanDisk soars after results top expectations, margin forecast raised
Shares of SanDisk (SNDK), a leader in flash storage solutions, are rallying after the company's first quarter results topped analysts' consensus estimates. The company also raised its fiscal 2014 adjusted gross margin outlook. WHAT'S NEW: Last night, SanDisk reported Q1 earnings per share of $1.44 and revenue of $1.51B, compared to expectations of $1.25 and $1.49B, respectively. Q1 gross profit as a percentage of revenue came in at 49.7% on a GAAP basis and 51.2% on a non-GAAP basis. The company forecast Q2 revenue of $1.55B-$1.63B, compared to consensus of $1.58B, and Q2 gross margins of 47%-49%. For FY14, the company expects revenue of $6.4B-6.8B, versus consensus of $6.66B. SanDisk raised its FY14 adjusted gross margin outlook to 47%-49% from 45%-48%. The company continues to expect overall healthy industry fundamentals in FY14. ANALYST REACTION: This morning, Jefferies and Credit Suisse raised their respective price targets on SanDisk. Jefferies raised its price target to $95 from $90, saying the company's strong Q1 results show the relevance of the NAND spot market has diminished. The firm expects a higher level of price stability to move shares of SanDisk and peer Micron (MU) higher. It reiterated a Buy rating on SanDisk. Credit Suisse raised its price target on SanDisk shares to $125 from $85 following the company's better than expected Q1 results and guidance. The firm kept an Outperform rating on the stock. PRICE ACTION: In late morning trading, SanDisk soared $7.56, or about 10%, to $83.40 on heavy trading volume. The stock is approaching its 52-week high of $85.37. Meanwhile, Micron shares are up 4% to $23.41.
09:00 EDTMUMicron rises 3.4%
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07:48 EDTMUSanDisk price target raised to $95 from $90 at Jefferies
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April 15, 2014
12:15 EDTMUStocks with call strike movement; MU NOK
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06:12 EDTMUMicron is expected to invest in Kingston Solutions, DigiTimes says
Micron (MU) plans to contribute equity investments into NAND device supplier Kingston Solutions, a joint venture between Toshiba (TOSBF) and Phison Electronics, reports DigiTimes. According to the sources, Kingston Solutions will be able to optimize NAND flash from Toshiba and mobile RAM from Micron following the investment. Reference Link
05:22 EDTMUMicron, Wave Systems collaborate to secure connected devices
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April 11, 2014
12:44 EDTMUHedge funds initiating shorts on Priceline, Amazon, Twitter, CNBC says
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12:42 EDTMUOn The Fly: Analyst Initiation Summary
ASML (ASML) initiated with a Cautious at ISI Group... Analog Devices (ADI) initiated with a Buy at ISI Group... Applied Materials (AMAT) initiated with a Strong Buy at ISI Group... Aruba Networks (ARUN) initiated with a Buy at SunTrust... Broadcom (BRCM) initiated with a Neutral at ISI Group... CSX (CSX) initiated with an Outperform at Macquarie... Cisco (CSCO) initiated with a Buy at SunTrust... F5 Networks (FFIV) initiated with a Neutral at SunTrust... Genesee & Wyoming (GWR) initiated with a Neutral at Macquarie... Intel (INTC) initiated with a Neutral at ISI Group... Juniper (JNPR) initiated with a Buy at SunTrust... KLA-Tencor (KLAC) initiated with a Neutral at ISI Group... Lam Research (LRCX) initiated with a Strong Buy at ISI Group... Linear Technology (LLTC) initiated with a Cautious at ISI Group... Maxim Integrated (MXIM) initiated with a Neutral at ISI Group... Micron (MU) initiated with a Strong Buy at ISI Group... NVIDIA (NVDA) initiated with a Neutral at ISI Group... NXP Semiconductors (NXPI) initiated with a Strong Buy at ISI Group... Qualcomm (QCOM) initiated with a Strong Buy at ISI Group... Riverbed (RVBD) initiated with a Neutral at SunTrust... SanDisk (SNDK) initiated with a Neutral at ISI Group... Teradyne (TER) initiated with a Buy at ISI Group... Texas Instruments (TXN) initiated with a Neutral at ISI Group... Trulia (TRLA) initiated with a Neutral at Susquehanna... Union Pacific (UNP) initiated with a Neutral at Macquarie... Zillow (Z) initiated with a Positive at Susquehanna... Flamel Technologies (FLML) initiated with a Buy at Roth Capital... Parker Drilling (PKD) initiated with an Accumulate at Tudor Pickering.
06:08 EDTMUMemory suppliers look to bundle NAND flash sales with DRAM chips, DigiTimes says
Some memory device suppliers may be pushing sales of NAND flash chips with DRAM chips in an effort to easy the oversupply of NAND flash products, reports DigiTimes. According to market sources, the prices of NAND chips have continued to decline this year due to the capacity ramps from major companies. Reference Link
April 10, 2014
16:10 EDTMUMicron initiated with a Strong Buy at ISI Group
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11:03 EDTMUOptions with decreasing implied volatility: MNKD QCOR MU KMX
10:31 EDTMUMicron to host analyst meeting
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08:18 EDTMUMicron licenses SerDes IP from Avago for Hybrid Memory Cube
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April 9, 2014
12:17 EDTMUMicron management to meet with Sterne Agee
Meetings to be held in the Mid-Atlantic area on April 15-16 hosted by Sterne Agee.
10:23 EDTMUOptions with decreasing implied volatility: MNKD QCOR MU KMX
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April 7, 2014
14:01 EDTMUMicron weakness a buying opportunity, says Sterne Agee
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13:50 EDTMUMicron shares defended at Sterne Agee
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13:05 EDTMUAnalyst says semiconductor stocks attractive after decline
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11:21 EDTMUOptions with decreasing implied volatility: QCOR MU KMX EPB
08:16 EDTMUPullback in semiconductor stocks creates buying opportunity, says Sterne Agee
After many semiconductor stocks dropped significantly on Friday, Sterne Agee thinks that the group's fundamental mid to long-term outlook hasn't changed. Sterne Agee thinks the companies are poised to benefit from strong product cycles and earnings leverage. It is most upbeat on Micron (MU), NXP Semiconductors (NXPI), Avago (AVGO), Skyworks (SWKS), and SanDisk (SNDK). The firm keeps Buy ratings on all the stocks named.
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