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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
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April 16, 2015
06:19 EDTSNDKSanDisk downgraded to Neutral from Outperform at Credit Suisse
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April 15, 2015
18:56 EDTSNDKOn The Fly: After Hours Movers
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17:39 EDTSNDKSanDisk anticipates cost reductions of 15%-20% in 2015
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17:36 EDTMU, SNDKMicron shares trade lower by 1% after SanDisk Q1 results
17:33 EDTSNDKSanDisk down over 5% after Q1 financial results and guidance
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17:28 EDTSNDKSanDisk lowers FY15 revenue view to $5.4B-$5.7B from $6.5B-$6.8B
Consensus for FY15 revenue is $6.15B.
17:22 EDTSNDKSanDisk sees Q2 revenue $1.15B-$1.23B, consensus $1.45B
17:21 EDTSNDKSanDisk sees sequential decline in revenue in Q2
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17:16 EDTSNDKSanDisk says problems with embedded component product impacted Q1
The company says qualification delays for embedded component effected revenue in Q1 and will impact Q2.
17:12 EDTSNDKSanDisk no longer sees $1B in Enterprise sales for FY15
17:09 EDTSNDKSanDisk says reducing FY15 estimates for SAS product
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17:06 EDTSNDKSanDisk says financial performance over last two quarters 'unacceptable'
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16:08 EDTSNDKSanDisk says 'taking aggressive measures' to regain excellence
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16:06 EDTSNDKSanDisk reports Q1 adjusted gross margin 43%
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16:06 EDTSNDKSanDisk reports Q1 EPS 62c, consensus 66c
Reports Q1 revenue $1.33B, consensus $1.31B.
15:05 EDTSNDK, MUEarnings Watch: SanDisk to report Q1 results after lowering revenue guidance
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14:05 EDTSNDKSanDisk technical notes before earnings
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April 14, 2015
09:19 EDTMUMicron management to meet with Brean Capital
Meeting to be held in Chicago on April 21 hosted by Brean Capital.
08:39 EDTSNDKSanDisk volatility elevated into Q1 and outlook
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April 13, 2015
06:01 EDTSNDKStocks with implied volatility below IV index mean; LL SNDK
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