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Stock Market & Financial Investment News

News Breaks
April 20, 2012
10:00 EDTSNDK, MUSanDisk 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
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April 15, 2014
06:12 EDTMUMicron is expected to invest in Kingston Solutions, DigiTimes says
Micron (MU) plans to contribute equity investments into NAND device supplier Kingston Solutions, a joint venture between Toshiba (TOSBF) and Phison Electronics, reports DigiTimes. According to the sources, Kingston Solutions will be able to optimize NAND flash from Toshiba and mobile RAM from Micron following the investment. Reference Link
05:22 EDTMUMicron, Wave Systems collaborate to secure connected devices
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April 14, 2014
09:34 EDTSNDKSanDisk mentioned positively at Cleveland Research
April 11, 2014
14:29 EDTSNDKSanDisk April volatility elevated into Q1 and outlook
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12:44 EDTMUHedge funds initiating shorts on Priceline, Amazon, Twitter, CNBC says
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12:42 EDTSNDK, MUOn The Fly: Analyst Initiation Summary
ASML (ASML) initiated with a Cautious at ISI Group... Analog Devices (ADI) initiated with a Buy at ISI Group... Applied Materials (AMAT) initiated with a Strong Buy at ISI Group... Aruba Networks (ARUN) initiated with a Buy at SunTrust... Broadcom (BRCM) initiated with a Neutral at ISI Group... CSX (CSX) initiated with an Outperform at Macquarie... Cisco (CSCO) initiated with a Buy at SunTrust... F5 Networks (FFIV) initiated with a Neutral at SunTrust... Genesee & Wyoming (GWR) initiated with a Neutral at Macquarie... Intel (INTC) initiated with a Neutral at ISI Group... Juniper (JNPR) initiated with a Buy at SunTrust... KLA-Tencor (KLAC) initiated with a Neutral at ISI Group... Lam Research (LRCX) initiated with a Strong Buy at ISI Group... Linear Technology (LLTC) initiated with a Cautious at ISI Group... Maxim Integrated (MXIM) initiated with a Neutral at ISI Group... Micron (MU) initiated with a Strong Buy at ISI Group... NVIDIA (NVDA) initiated with a Neutral at ISI Group... NXP Semiconductors (NXPI) initiated with a Strong Buy at ISI Group... Qualcomm (QCOM) initiated with a Strong Buy at ISI Group... Riverbed (RVBD) initiated with a Neutral at SunTrust... SanDisk (SNDK) initiated with a Neutral at ISI Group... Teradyne (TER) initiated with a Buy at ISI Group... Texas Instruments (TXN) initiated with a Neutral at ISI Group... Trulia (TRLA) initiated with a Neutral at Susquehanna... Union Pacific (UNP) initiated with a Neutral at Macquarie... Zillow (Z) initiated with a Positive at Susquehanna... Flamel Technologies (FLML) initiated with a Buy at Roth Capital... Parker Drilling (PKD) initiated with an Accumulate at Tudor Pickering.
09:22 EDTSNDKSanDisk not likely to meet Q1 consensus estimates, says BofA/Merrill
BofA/Merrill has concerns SanDisk will report a Q1 miss given weaker than seasonal NAND demand at Asian chipmakers and ASP erosion. The firm has bigger concerns of a Q2 miss given bullish consensus estimates adn potential for Asian chipmakers to be more aggressive in NAN price cuts due to excess inventories. Shares are Underperform rated.
06:08 EDTSNDK, MUMemory suppliers look to bundle NAND flash sales with DRAM chips, DigiTimes says
Some memory device suppliers may be pushing sales of NAND flash chips with DRAM chips in an effort to easy the oversupply of NAND flash products, reports DigiTimes. According to market sources, the prices of NAND chips have continued to decline this year due to the capacity ramps from major companies. Reference Link
April 10, 2014
16:23 EDTSNDKSanDisk initiated with a Neutral at ISI Group
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16:10 EDTMUMicron initiated with a Strong Buy at ISI Group
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11:03 EDTMUOptions with decreasing implied volatility: MNKD QCOR MU KMX
10:31 EDTMUMicron to host analyst meeting
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08:18 EDTMUMicron licenses SerDes IP from Avago for Hybrid Memory Cube
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April 9, 2014
12:17 EDTMUMicron management to meet with Sterne Agee
Meetings to be held in the Mid-Atlantic area on April 15-16 hosted by Sterne Agee.
10:23 EDTMUOptions with decreasing implied volatility: MNKD QCOR MU KMX
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April 7, 2014
14:01 EDTMUMicron weakness a buying opportunity, says Sterne Agee
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13:50 EDTMUMicron shares defended at Sterne Agee
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13:05 EDTSNDK, MUAnalyst says semiconductor stocks attractive after decline
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11:21 EDTMUOptions with decreasing implied volatility: QCOR MU KMX EPB
08:16 EDTMU, SNDKPullback in semiconductor stocks creates buying opportunity, says Sterne Agee
After many semiconductor stocks dropped significantly on Friday, Sterne Agee thinks that the group's fundamental mid to long-term outlook hasn't changed. Sterne Agee thinks the companies are poised to benefit from strong product cycles and earnings leverage. It is most upbeat on Micron (MU), NXP Semiconductors (NXPI), Avago (AVGO), Skyworks (SWKS), and SanDisk (SNDK). The firm keeps Buy ratings on all the stocks named.
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