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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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March 26, 2015
07:15 EDTSNDKNetlist comments on jury verdict from Northern District Court of California
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07:00 EDTSNDK, MUSanDisk drops 14% after cutting Q1, 2015 revenue outlook
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05:57 EDTMUMicron checks show challenges for 20nm DRAM, says Piper Jaffray
Piper Jaffray says its recent checks with supply chain participants in Asia suggest Micron may be experiencing typical node-migration yield challenges for 20nm DRAM. Piper believes this could drive the company's FY15 bit growth below current management guidance, but it expects a recovery in FY16. Piper lowered its estimates for Micron, but continues to view the stock as undervalued. It reiterates an Overweight rating on the name with a $41 price target.
05:43 EDTSNDKSanDisk lowers Q1 revenue guidance to $1.3B from $1.4B-$1.45B, consensus $1.44B
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March 25, 2015
10:00 EDTMUOn The Fly: Analyst Initiation Summary
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08:00 EDTMUMicron shares should be bought on weakness, says Argus
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06:44 EDTMUMicron initiated with a Neutral at MKM Partners
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March 24, 2015
17:11 EDTMUPhototronics enters into supply and license agreement with Micron
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07:07 EDTMUMicron volatility increases into Q2 and outlook
Micron April weekly call option implied volatility is at 42, April is at 41, May is at 37, July is at 36; compared to its 26-week average of 39 according to Track Data, suggesting non-directional price movement into the expected release of Q2 results on April 2.
March 20, 2015
14:20 EDTMUMicron volatility flat into Q2 and outlook
Micron April weekly call option implied volatility is at 39, April is at 38, May is at 37, July is at 34; compared to its 26-week average of 39 according to Track Data, suggesting non-directional price movement into the expected release of Q2 results on April 2.
March 19, 2015
08:18 EDTSNDKSanDisk to benefit from 3D NAND, says Morgan Stanley
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March 18, 2015
11:25 EDTMUStocks with call strike movement; SWKS MU
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09:36 EDTMUActive equity options trading on open
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08:08 EDTMUSamsung postponed DRAM equipment orders, says JPMorgan
JPMorgan says its research indicates Samsung has recently postponed a "meaningful" level of DRAM equipment orders by up to two quarters. The firm views the push outs as evidence of discipline in the DRAM supply chain and a positive for Micron (MU). It believes the DRAM pricing environment should stabilize starting in Q2 and recommends buying shares of Micron at current levels. It has an Overweight rating on the name with a $40 price target.
March 17, 2015
11:16 EDTMUMicron falls, levels to watch
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10:26 EDTSNDKOptions with increasing implied volatility
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08:07 EDTSNDKNetlist announces positive ruling in patent battles in ULLtraDIMM case
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08:00 EDTMUMicron FY16 EPS estimate lowered at RBC Capital
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05:53 EDTSNDKStocks with implied volatility movement; WLL SNDK
Stocks with implied volatility movement; Whiting Petroleum (WLL) 86, SanDisk (SNDK) 36 according to iVolatility.
March 16, 2015
08:24 EDTMUMicron pricing pressure to ease in 2H15, says Deutsche Bank
Deutsche Bank lowered its estimates on Micron to reflect near-term PC DRAM weakness, but the firm expects pricing pressure to ease in 2H15, driven by seasonal PC build, higher mobile content and a DDR4 upgrade cycle. The firm thinks the company will have a number of positive catalysts in 2016, and it keeps a $40 price target and Buy rating on the shares.
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