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News Breaks
July 16, 2014
08:03 EDTSNDK, FIOSanDisk announces expiration of HSR waiting period for Fusion-io purchase
SanDisk Corporation (SNDK) announced that the waiting period for U.S. antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, relating to SanDisk’s proposed acquisition of Fusion-io (FIO), expired at 11:59 P.M., Eastern time, on Tuesday, July 15. In addition, SanDisk and Fusion-io have determined that no pre-merger notifications are required to be filed in the Federal Republic of Germany with respect to the proposed acquisition. As previously announced on June 16, SanDisk has entered into a definitive agreement to acquire Fusion-io in an all-cash transaction valued at approximately $1.1B, net of cash assumed. Under the terms of the agreement, SanDisk commenced a tender offer on June 24 for all outstanding shares of Fusion-io for $11.25 per share in cash. The expiration of the HSR waiting period, together with the determination that no pre-merger notifications are required to be filed in the Federal Republic of Germany, satisfies one of the conditions to close the tender offer. Other conditions remain to be satisfied, including the valid tender of at least a majority of outstanding Fusion-io shares. The tender offer is scheduled to expire at 12:00 midnight, New York City time, at the end of the day on Tuesday, July 22 unless the tender offer is extended or terminated earlier.
News For SNDK;FIO From The Last 14 Days
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July 23, 2015
10:00 EDTSNDKOn The Fly: Analyst Upgrade Summary
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09:13 EDTSNDKOn The Fly: Pre-market Movers
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08:15 EDTSNDKSanDisk earnings could rise, says Pacific Crest
After SanDisk reported stronger than expected results, Pacific Crest believes that the company's earnings could rise further, as they did after 2012. The firm raised its price target on the name to $81 from $75 and keeps an Overweight rating on the shares.
08:04 EDTSNDKSanDisk upgraded to Buy from Neutral at BofA/Merrill
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07:54 EDTSNDKSanDisk price target lowered to $68 from $75 at UBS
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07:36 EDTSNDKSanDisk showing good progress, says Stifel
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07:00 EDTSNDKSanDisk upgraded to Buy from Neutral at B. Riley
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05:39 EDTSNDKSanDisk Q2 shows recovery on track, says Piper Jaffray
Piper Jaffray analyst Ruben Roy says SanDisk's Q2 results and guidance indicate the company's second half of 2015 recovery is on track. Inventory levels are back to normal and client SSD revenues are expected to grow following a Q2 trough, Roy tells investors in a post-earnings research note. He lowers his price target for SanDisk to $69 from $74 and reiterates an Overweight rating on the stock.
July 22, 2015
19:02 EDTSNDKOn The Fly: After Hours Movers
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17:33 EDTSNDKMicron advances by 2.33% after SanDisk Q2 results
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17:28 EDTSNDKSanDisk advances 12% after Q2 results, guidance
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17:25 EDTSNDKSanDisk sees Q3 revenue $1.35B-$1.45B, consensus $1.41B
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17:25 EDTSNDKSanDisk backs FY15 revenue view $5.4B-$5.7B, consensus $5.53B.
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17:21 EDTSNDKSanDisk does not expect Toshiba announcement to impact financial results
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17:06 EDTSNDKSanDisk says progressing with qualification of embedded component product
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16:06 EDTSNDKSanDisk reports Q2 non-GAAP EPS 66c, consensus 33c
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15:26 EDTSNDKNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
15:09 EDTSNDKEarnings Watch: Summit breaks trend with upgrade of Sandisk to Buy
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12:16 EDTSNDKSanDisk technical notes before earnings
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07:10 EDTSNDKSanDisk July weekly volatility elevated into Q2 and outlook
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