New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 17, 2014
12:15 EDTSNDK, FIO, NTAP, EMC, HILLSanDisk 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 | >>
October 16, 2014
17:35 EDTSNDKSanDisk trades lower after hours, levels to watch
Subscribe for More Information
17:33 EDTSNDKSanDisk continues to trade lower, now down almost 7% after Q4 revenue guidance
17:24 EDTSNDKSanDisk sees Q4 revenue $1.8B-$1.85B, consensus $1.88B
Sees Q4 adjusted gross margin 47%-49%. Guidance from company's Q3 earnings conference call.
17:19 EDTSNDKSanDisk on track for Fusion- io to add to earnings in 2H15
Comment made on company Q3 earnings call.
16:23 EDTSNDKSanDisk lower by 1.5% to $83.75 after Q3 results
Subscribe for More Information
16:08 EDTSNDKSanDisk sees demand for NAND flash continues strong
“Third quarter results reflect the strength of our diversified product portfolio, broad customer engagements and solid execution,” said Sanjay Mehrotra, president and CEO. “Demand for NAND flash continues to be strong across mobile, client and enterprise, where SanDisk’s innovations are creating significant opportunities. As we focus on closing a record 2014, we also look forward to building upon our success in 2015.”
16:06 EDTSNDKSanDisk reports Q3 adjusted gross margin 49%
16:06 EDTSNDKSanDisk reports Q3 EPS $1.45, consensus $1.33
Subscribe for More Information
15:26 EDTSNDKNotable companies reporting after market close
Subscribe for More Information
14:47 EDTSNDKEarnings Preview: Pacific Crest, RBC positive on SanDisk ahead of report
Subscribe for More Information
14:36 EDTSNDKSanDisk October 86 straddle priced for 7.3% move into Q3
Subscribe for More Information
October 15, 2014
15:00 EDTSNDKSanDisk October 84 straddle priced for 7.3% move into Q3
12:36 EDTEMCOn The Fly: Midday Wrap
Subscribe for More Information
09:20 EDTEMCOn The Fly: Pre-market Movers
Subscribe for More Information
08:15 EDTEMCHP resumes buyback with EMC merger talks reportedly over
Subscribe for More Information
06:14 EDTEMCHP, EMC halt merger agreement discussions, Reuters says
Subscribe for More Information
October 14, 2014
07:59 EDTSNDKSanDisk should be bought on weakness, says Pacific Crest
Subscribe for More Information
07:47 EDTSNDKSanDisk October volatility elevated into Q3 and guidance
SanDisk October call option implied volatility is at 98, November is at 44, January is at 35; compared to its 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 16.
October 13, 2014
16:55 EDTEMCEMC to acquire cloud-computing firm Cloudscaling, Bloomberg reports
EMC is acquiring cloud-computing startup Cloudscaling, which helps companies manage computers that are tied together by OpenStack, says Bloomberg Businessweek. The purchase price is less than $50M, added Bloomberg Businessweek. Reference Link
07:15 EDTEMCNational Association of Corporate Directors to hold a conference
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