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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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October 27, 2014
08:02 EDTMUMicron announces $1B stock repurchase authorization
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October 24, 2014
05:42 EDTMUMicron management to meet with JMP Securities
Meeting to be held in San Francisco on October 24 hosted by JMP Securities.
October 23, 2014
17:14 EDTMUMicron recommends shareholders reject TRC Capital's 'mini-tender' offer
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October 22, 2014
10:03 EDTMUThe Linley Group to hold a conference
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October 21, 2014
12:11 EDTMUEinhorn says bought some Micron back last week, trimmed at higher levels
David Einhorn of Greenlight Capital is speaking on CNBC.
10:42 EDTMUMicron recommended as long idea by Tilson, Bloomberg reports
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09:07 EDTSNDKFlextronics appoints Michael Mendenhall as Chief Marketing Officer
Flextronics (FLEX) announced that Michael Mendenhall has been appointed to lead the Company's worldwide marketing, branding and communications initiatives. Mendenhall most recently served as the Executive Vice President and Chief Marketing and Communications Officer for Fusion-io. In this role, he was responsible for repositioning the Company's brand and products and played a key role in its successful acquisition by SanDisk (SNDK). Previously, he served as Senior Vice President and Chief Marketing Officer for HP (HPQ) and directed all aspects of corporate marketing operations globally.
October 20, 2014
18:51 EDTMUOn The Fly: After Hours Movers
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12:36 EDTSNDK, MUOptions with decreasing implied volatility
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06:53 EDTMUMicron upgraded to Outperform from Sector Perform at Pacific Crest
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05:58 EDTMUMicron upgraded to Outperform from Sector Perform at Pacific Crest
October 17, 2014
16:55 EDTSNDKStocks end volatile week lower amid oil price plunge
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16:17 EDTSNDKOn The Fly: Closing Wrap
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14:23 EDTSNDKSanDisk shares attractive after pullback, says Argus
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11:51 EDTMUStocks with call strike movement; MU DAL
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09:17 EDTSNDKOn The Fly: Pre-market Movers
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09:16 EDTMUMicron management to meet with MKM Partners
Meetings to be held in New York on October 23 and in the Mid-Atlantic area on October 24 hosted by MKM Partners.
07:32 EDTSNDKSanDisk price target lowered to $110 from $120 at UBS
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07:31 EDTSNDK, MUSamsung first to market with new multilayer NAND technology, Nikkei says
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05:42 EDTSNDKSanDisk pullback a buying opportunity, says Piper Jaffray
Piper Jaffray says SanDisk's Q4 guidance missed expectations because the company is seeing more demand than it can fully supply, which it views as a good problem to have. Piper thinks the recent pullback in shares provides a buying opportunity. It lowered its price target for SanDisk shares to $106 from $110 and reiterates an Overweight rating on the name.
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