New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 17, 2014
12:15 EDTEMC, SNDK, NTAP, HILL, FIOSanDisk plummets after Q3 revenue outlook disappoints
Shares of flash memory manufacturer SanDisk (SNDK) are sinking after the company’s third quarter revenue outlook trailed analysts’ consensus estimates. WHAT'S NEW: Last night, SanDisk reported second quarter adjusted EPS of $1.41 and revenue of $1.63B, beating estimates of $1.39 and $1.6B, respectively. The company said Q2 adjusted gross margin came in at 48%. President and Chief Executive Officer Sanjay Mehrotra commented that SSD solutions comprised 29% of Q2 revenue, compared to 16% in the year ago quarter, "demonstrating strong progress in driving our strategic priorities." Mehrotra said the Q2 results positions the company to deliver a record year in 2014. WHAT’S NOTABLE: SanDisk forecast Q3 revenue of $1.675B-$1.725B, below consensus estimates of $1.74B. The comapny also guided Q3 adjusted gross margin at 47%-49%. On the company's earnings conference call, management said it expects the second half of 2014 to be "somewhat supply constrained." The company expects the Fusion-io (FIO) deal to close in Q3, and sees it being accretive to earnings in the second half of fiscal 2015, though initial synergies will be "modest." SanDisk sees fiscal year 2014 cash capital expenditures of approximately $600M and is still targeting returning 100% of free cash flow to shareholders. ANALYST REACTION: This morning, analyst commentary was mostly positive. Research firm Piper Jaffray said SanDisk’s post-earnings pull back represents a buying opportunity. The firm, which reiterated an Overweight rating with a $110 price target, believes favorable trends for 2015 remain intact. BofA/Merrill reiterated its Buy rating and $125 price target on the shares. Conversely, Summit Research said it believes SanDisk's valuation is stretched and priced to perfection. The firm believes margins have peaked and 3D NAND issues remain a concern. PRICE ACTION: In early afternoon trading, SanDisk fell $13.72 or about 12.64%, to $94.20 on nearly four times its average daily trading volume. Despite today’s pull back, the stock has gained approximately 59% over the past twelve months, and 34% year to date. OTHERS TO WATCH: Other companies that produce memory include NetApp (NTAP), EMC (EMC) and Dot Hill Systems (HILL).
News For SNDK;FIO;NTAP;EMC;HILL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
April 15, 2015
17:33 EDTSNDKSanDisk down over 5% after Q1 financial results and guidance
Subscribe for More Information
17:28 EDTSNDKSanDisk lowers FY15 revenue view to $5.4B-$5.7B from $6.5B-$6.8B
Consensus for FY15 revenue is $6.15B.
17:22 EDTSNDKSanDisk sees Q2 revenue $1.15B-$1.23B, consensus $1.45B
17:21 EDTSNDKSanDisk sees sequential decline in revenue in Q2
Subscribe for More Information
17:16 EDTSNDKSanDisk says problems with embedded component product impacted Q1
The company says qualification delays for embedded component effected revenue in Q1 and will impact Q2.
17:12 EDTSNDKSanDisk no longer sees $1B in Enterprise sales for FY15
17:09 EDTSNDKSanDisk says reducing FY15 estimates for SAS product
Subscribe for More Information
17:06 EDTSNDKSanDisk says financial performance over last two quarters 'unacceptable'
Subscribe for More Information
16:08 EDTSNDKSanDisk says 'taking aggressive measures' to regain excellence
Subscribe for More Information
16:06 EDTSNDKSanDisk reports Q1 adjusted gross margin 43%
Subscribe for More Information
16:06 EDTSNDKSanDisk reports Q1 EPS 62c, consensus 66c
Reports Q1 revenue $1.33B, consensus $1.31B.
15:05 EDTSNDKEarnings Watch: SanDisk to report Q1 results after lowering revenue guidance
Subscribe for More Information
14:05 EDTSNDKSanDisk technical notes before earnings
Subscribe for More Information
April 14, 2015
17:34 EDTEMCGuidance Software appoints Patrick Dennis as CEO
Subscribe for More Information
10:16 EDTNTAPHigh option volume stocks
High option volume stocks: NSAM ALU CJES BIG CMRX ERIC NTAP TMO KN CIG
08:39 EDTSNDKSanDisk volatility elevated into Q1 and outlook
Subscribe for More Information
April 13, 2015
18:02 EDTHILLQuantum, Dot Hill Systems announce partnership
Subscribe for More Information
08:06 EDTHILLQuantum and Dot Hill Systems announces go-to-market partnership
Quantum (QTM) and Dot Hill Systems (HILL) announced a new, global go-to-market partnership whereby Quantum will integrate Dot Hill's full line of enterprise-class disk storage systems into its tiered storage offerings. By adding all of Dot Hill's storage arrays to its scale-out storage and data protection portfolio, Quantum will further expand its range of solutions designed for managing data across its entire lifecycle in demanding environments. At the same time, Dot Hill will extend its market footprint by leveraging Quantum's channel, sales and marketing resources, and global service and support.
07:08 EDTNTAP, EMCSources: Symantec exploring Veritas sale 'for months,' Reuters reports
Subscribe for More Information
06:01 EDTSNDKStocks with implied volatility below IV index mean; LL SNDK
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

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