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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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May 19, 2015
11:06 EDTSNDKSanDisk says in Q2 to date repurchased $100M in shares
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10:57 EDTSNDKSanDisk targets 2016 for return to enterprise revenue growth
10:56 EDTSNDKSanDisk sees enterprise revenue contracting sequentially in Q2
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10:49 EDTSNDKSanDisk rallies while presenting at conference
Shares of SanDisk (SNDK) are moving higher while the company is presenting at the J.P. Morgan Global Technology, Media and Telecom Conference. During its presentation, SanDisk management said that 15 nanometer technology is ramping to plan and that it expects "strong" sequential revenue growth in the second half of the year. Shares of SanDisk are up 1.7% to $68.66 in morning trading.
10:46 EDTSNDKSanDisk sees strong sequential revenue growth in 2H
Sees successful completion of embedded qualifications.
10:43 EDTSNDKSanDisk says 15 nanometer technology ramping to plan
Comments from J.P. Morgan Global Technology, Media and Telecom Conference.
May 18, 2015
16:00 EDTMUOptions Update; May 18, 2015
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10:57 EDTMUMicron May weekly calls active
Micron May weekly 26.5 and 27 weekly calls are active on total call volume of 35K contracts (3K puts). May weekly call option implied volatility is at 36, June is at 32, July is at 34; compared to its 90-day average of 35, active call volume suggests traders taking positions for large near term price movement.
10:32 EDTMUMicron management to meet with JMP Securities
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10:02 EDTSNDKNAND pricing tracking ahead of expectations, says JPMorgan
JPMorgan said the NAND market is picking up and pricing is tracking ahead of expectations due to restocking momentum. The firm expects NAND market traction heading into 2H driven by new smartphone launches and a recovery in the PC market. Note SanDisk is leveraged to NAND.
May 15, 2015
16:28 EDTMUAppaloosa Management gives quarterly update on stakes
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16:01 EDTMUOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
10:40 EDTMUStocks with call strike movement; MU AMAT
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08:44 EDTMUMicron estimates lowered on weaker pricing at Nomura
Nomura lowered Micron estimates due to on-going softness in pricing due to the persistent weak PC backdrop. The firm lowered its August quarter earnings estimate to 61c from 75c, 2015 earnings estimate to $2.83 from $3.33, and 2016 to $3.33 from $3.75. Shares are Neutral rated with a $25 price target, down from $28.
08:16 EDTMUSamsung not engaged in DRAM price war with Micron, says Jefferies
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May 13, 2015
10:08 EDTSNDKRumor: SanDisk strength attributed to renewed takeover speculation
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May 12, 2015
14:07 EDTMUFollow-up: Micron downgraded to Hold at Drexel Hamilton
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13:36 EDTMUMicron downgraded to Hold from Buy at Drexel Hamilton
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07:51 EDTMUDeutsche Bank to hold a conference
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May 11, 2015
16:00 EDTMUOptions Update; May 11, 2015
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