New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 20, 2012
10:00 EDTMU, SNDKSanDisk sinks after Q1 results, revenue guidance miss expectations
Flash memory device maker SanDisk (SNDK) yesterday after the close reported Q1 adjusted EPS of 63c, compared with analysts' consensus estimate of 70c. The adjusted EPS figure excludes several items, such as share-based compensation expense, and amortization of acquisition-related intangible assets. SanDisk's revenue also came in lower than expected. Meanwhile, the company predicted that its FY12 revenue would come in below its FY11 revenue of $5.66B. Analysts' consensus revenue outlook for FY12 was $5.89B. "Our first quarter results were adversely impacted by lower-than-expected pricing and demand weakness in certain segments and we expect similar trends in the second quarter as well," said Sanjay Mehrotra, president and CEO. "We believe a seasonally stronger demand environment in the second half of the year....will allow us to deliver strong sequential revenue growth in the third and fourth quarters," added Mehotra. In a note to investors today, Deutsche Bank responded to SanDisk's results and guidance by downgrading the stock to Hold from Buy. The firm, which slashed its price target on the stock to $35 from $53, thinks that the company's market share losses are accelerating while the company's NAND business is underperforming even as that market grows. In early trading, SanDisk tumbled $5.27, or 13.02%, to $35.20. Micron (MU), which also develops flash memory devices, gave back 27c, or 3.78%, to $6.74.
News For SNDK;MU From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 24, 2014
08:33 EDTMUMicron estimates raised on solid DRAM demand at Goldman
Subscribe for More Information
November 19, 2014
10:29 EDTSNDK, MUGoogle now top competitor to Apple, Jefferies says
Subscribe for More Information
08:08 EDTSNDKSanDisk Ventures announces investment in Altair Semiconductor
Subscribe for More Information
November 18, 2014
09:56 EDTSNDKOn The Fly: Analyst Initiation Summary
Subscribe for More Information
08:18 EDTSNDKSanDisk initiated with a Buy at BTIG
Subscribe for More Information
08:13 EDTMUMicron announces CFO Foster to retire in 2015
Subscribe for More Information
05:58 EDTMUMicron implied volatility of 32 at lower end of index mean range
Subscribe for More Information
November 17, 2014
09:36 EDTMUActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
06:08 EDTMUMicron implied volatility of 33 at lower end of index mean range
November 14, 2014
16:52 EDTMUGreenlight Capital gives quarterly update on stakes
Subscribe for More Information
November 13, 2014
10:01 EDTSNDKOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
05:32 EDTSNDKSanDisk upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded SanDisk to Buy saying the weakening in the yen will likely be a positive for margins in 2015. Goldman raised its price target for shares to $106 from $87.
November 12, 2014
05:51 EDTMUMicron checks show stonger than expected DDR4 demand, says Piper Jaffray
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use