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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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August 31, 2015
09:07 EDTSNDKB. Riley to hold a tour
Silicon Valley Tech Tour travels throughout the Silicon Valley visiting various local tech companies on August 31-September 3.
08:07 EDTSNDKSanDisk unveils data service for VMware vSphere with FlashSoft
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05:50 EDTMUStocks with implied volatility movement; MRO MU
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August 28, 2015
08:03 EDTMUMicron management to meet with MKM Partners
Meetings to be held in Connecticut on September 3 and in New York on September 4 hosted by MKM Partners.
06:10 EDTMUTsinghua Unigroup chairman meets with Micron board members, Reuters says
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August 27, 2015
15:19 EDTMUOptions Update; August 27, 2015
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11:30 EDTMUStocks with call strike movement; MU MRO
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05:53 EDTMUIC demand for notebooks picking up, DigiTimes reports
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August 26, 2015
07:52 EDTSNDKUBS to hold a tour
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August 23, 2015
14:23 EDTMUApple, Micron shares look like bargains, Barron's says
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August 20, 2015
16:00 EDTMUOptions Update; August 20, 2015
iPath S&P 500 VIX Short-Term Futures up 1.49 to 17.70. Option volume leaders: AAPL BAC FB NFLX DIS INTC BABA MU
11:12 EDTMUStocks with call strike movement; MU TWTR
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10:00 EDTMUOn The Fly: Analyst Downgrade Summary
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09:20 EDTMUOn The Fly: Pre-market Movers
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07:28 EDTMUBaird downgraded Micron to Neutral on falling DRAM prices
Baird analyst Tristan Gerra downgraded Micron to Neutral from Outperform and lowered his price target to $15 from $36 on DRAM price concerns. Gerra believes blended DRAM pricing could fall 20%+ between now and next year, down to fully loaded costs before capacity cuts take place. The analyst said continued PC unit weakness, soft enterprise server, mobile DRAM weakness, and excess channel inventories are causing the current downturn. Gerra expects Micron's gross margin and earnings to bottom in the February quarter and sees little upside potential until then.
August 18, 2015
10:00 EDTSNDKOn The Fly: Analyst Downgrade Summary
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09:39 EDTMUActive equity options trading on open
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09:23 EDTSNDKOn The Fly: Pre-market Movers
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07:27 EDTSNDKSanDisk downgraded to Underperform on industry capex increases at BofA/Merrill
BofA/Merrill downgraded SanDisk two notches to Underperform from Buy and lowered its price target to $40 from $75. The firm is more cautious on the memory chip sector given new developments of SK Group's "significantly higher capex budget" and Micron's unexpected FY16 capex hike. BofA/Merrill said excess capacity is now a concern and cut long-term earnings estimates for most memory chip stocks.
05:55 EDTMUDRAMeXchange: Global mobile DRAM revenue up 7.7% in Q2, DigiTimes reports
Global sales of mobile DRAM increased 7.7% sequentially to $3.85B while global sales of overall DRAM decreased 4.8% to $11.4B in Q2, reports DigiTimes, citing DRAMeXchange. Mobile DRAM prices were less affected by falling prices for PC DRAM chips when compared to other types of DRAM. Prices for PC DRAM chips, which fell 15% in July, are forecast to drop an overall 30% in the third quarter of 2015. Reference Link
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