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Stock Market & Financial Investment News

News Breaks
April 1, 2014
10:20 EDTCVLT, WDC, FIO, SNDK, STXData vendors could benefit from cloud expansion, Pac Crest says
Suppliers of data storage products - including SanDisk (SNDK), Western Digital (WDC) and Seagate (STX) - could benefit from increased spending on cloud storage, research firm Pacific Crest contended. WHAT'S NEW: Recent price cuts by companies that provide cloud storage indicate that these companies are looking to add many new customers, Pacific Crest wrote in a note to investors earlier today. Companies that supply products used by these cloud storage providers could benefit from this trend, the analyst said. Among the suppliers that Pacific Crest thinks could benefit are Western Digital and Seagate, which provide network storage devices. Other companies that could benefit from increased cloud storage sales, according to the firm, are SanDisk, which provides flash memory storage products. Fusion-io (FIO), which provides solutions that accelerate databases and cloud computing, and CommVault (CVLT), which develops data and information management software. Pacific Crest recommended that investors buy all the stocks named. PRICE ACTION: In early trading, SanDisk rose 2% to $82.80, Western Digital gained 1.2% to $93, Seagate climbed 1.4% to $57, Fusion-io advanced 2.2% to $10.75, and CommVault added 1.75% to $66.
News For SNDK;WDC;STX;FIO;CVLT From The Last 14 Days
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July 23, 2015
08:15 EDTSNDKSanDisk earnings could rise, says Pacific Crest
After SanDisk reported stronger than expected results, Pacific Crest believes that the company's earnings could rise further, as they did after 2012. The firm raised its price target on the name to $81 from $75 and keeps an Overweight rating on the shares.
08:04 EDTSNDKSanDisk upgraded to Buy from Neutral at BofA/Merrill
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07:54 EDTSNDKSanDisk price target lowered to $68 from $75 at UBS
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07:36 EDTSNDKSanDisk showing good progress, says Stifel
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07:00 EDTSNDKSanDisk upgraded to Buy from Neutral at B. Riley
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06:29 EDTWDCWestern Digital downgraded to Equal Weight from Overweight at Morgan Stanley
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06:29 EDTSTXSeagate downgraded to Underweight from Overweight at Morgan Stanley
Morgan Stanley downgraded Seagate two notches to Underweight from Overweight and cut its view on the US IT Hardware Industry to Cautious from In-Line. The firm's June CIO survey indicates incremental enterprise IT budget weakness, and when combined with a downtick in cloud capex, results in a reduction in estimates and multiple compression. Morgan Stanley lowered its price target on shares to $34 from $49.
05:39 EDTSNDKSanDisk Q2 shows recovery on track, says Piper Jaffray
Piper Jaffray analyst Ruben Roy says SanDisk's Q2 results and guidance indicate the company's second half of 2015 recovery is on track. Inventory levels are back to normal and client SSD revenues are expected to grow following a Q2 trough, Roy tells investors in a post-earnings research note. He lowers his price target for SanDisk to $69 from $74 and reiterates an Overweight rating on the stock.
July 22, 2015
19:02 EDTSNDKOn The Fly: After Hours Movers
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17:33 EDTSNDKMicron advances by 2.33% after SanDisk Q2 results
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17:28 EDTSNDKSanDisk advances 12% after Q2 results, guidance
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17:25 EDTSNDKSanDisk sees Q3 revenue $1.35B-$1.45B, consensus $1.41B
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17:25 EDTSNDKSanDisk backs FY15 revenue view $5.4B-$5.7B, consensus $5.53B.
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17:21 EDTSNDKSanDisk does not expect Toshiba announcement to impact financial results
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17:06 EDTSNDKSanDisk says progressing with qualification of embedded component product
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16:06 EDTSNDKSanDisk reports Q2 non-GAAP EPS 66c, consensus 33c
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15:26 EDTSNDKNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
15:09 EDTSNDKEarnings Watch: Summit breaks trend with upgrade of Sandisk to Buy
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12:16 EDTSNDKSanDisk technical notes before earnings
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07:10 EDTSNDKSanDisk July weekly volatility elevated into Q2 and outlook
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