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Stock Market & Financial Investment News

News Breaks
July 16, 2014
13:44 EDTMU, FIO, SNDKEarnings Preview: Stifel sees SanDisk results, guidance topping expectations
SanDisk (SNDK) is expected to report second quarter earnings after the close on Wednesday, July 16, with a conference call scheduled for 5:00 pm ET. SanDisk manufactures data storage solutions, including removable and embedded Flash memory and solid-state drives. EXPECTATIONS: Analysts are looking for earnings per share of $1.39 on revenue of $1.6B. The consensus range is $1.31-$1.50 for EPS on revenue of $1.58B-$1.64B, according to First Call. With its last report, the company forecast Q2 revenue of $1.55B-$1.63B and Q2 gross margins of 47%-49%. For FY14, the company expects revenue of $6.4B-6.8B, versus consensus of $6.73B. Last quarter, SanDisk raised its FY14 adjusted gross margin outlook to 47%-49% from 45%-48%. LAST QUARTER: On April 16, SanDisk reported first quarter 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. NEWS: On June 16, SanDisk announced a definitive agreement to acquire Fusion-io (FIO), a developer of flash-based PCIe hardware and software solutions that enhance application performance in enterprise and hyperscale datacenters. The acquisition will be an all-cash transaction valued at approximately $1.1B, net of cash assumed. Earlier today, SanDisk announced that the waiting period for U.S. antitrust review of its proposed acquisition of Fusion-io expired last night. The expiration of the HSR waiting period, together with the determination that no pre-merger notifications are required to be filed in Germany, satisfies one of the conditions to close the tender offer, though other conditions remain to be satisfied, the company noted. PEER REPORT: SanDisk peer Micron Technology (MU) reported earnings per share and revenue for its third quarter that surpassed analysts' expectations after the market close on June 23. Micron's Q3 EPS of 79c was 9c higher than expectations, while its Q3 revenue of $3.98B beat analysts' consensus forecast of $3.89B. Revenues for both DRAM and NAND Flash products were down slightly for the quarter compared to last year's results. STREET RESEARCH: The day after SanDisk announced its deal to buy Fusion-io, Sterne Agee increased its price target on SanDisk to $125 from $105. The firm said it thought that Fusion-io can conservatively increase SanDisk's FY15 EPS to about $7 and it kept a Buy rating on SanDisk. More recently, Stifel raised its price target on SanDisk to $114 from $95, as the firm expects the company's June quarter results to beat consensus estimates. The firm predicts that SanDisk's guidance for its September quarter may also beat expectations and believes that demand is shifting towards SanDisk's high valued products. Stifel kept a Buy rating on the stock. PRICE ACTION: Since the day after last quarter's report, shares of SanDisk have advanced about 41%. Ahead of tonight's report, SanDisk was up about 1.59% to $107.24 in afternoon trading.
News For SNDK;FIO;MU 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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