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News Breaks
January 23, 2013
13:36 EDTSNDKEarnings Preview: SanDisk shares ride market rally into Q4 report
SanDisk (SNDK) is set to report Q4 earnings after the market close on Wednesday, January 23, with a conference call scheduled for 5:00 pm ET. SanDisk is a data storage solutions company that offers flash memory products in removable cards, embedded products, and USB drives... EXPECTATIONS: Analysts are looking for EPS of 76c on revenue of $1.53B, according to First Call. The consensus range for EPS 68c-90c on revenue of $1.5B-$1.59B... LAST QUARTER: SanDisk reported Q3 adjusted EPS of 48c against estimates for 33c on revenue of $1.27B against estimates for $1.22B. During its Q3 earnings call, SanDisk said it sees Q4 revenue of $1.5B, plus or minus $50M, and said it expects solid revenue growth in 2013. On December 20, SanDisk authorized an additional $750M share repurchase program, bringing the total amount authorized for stock repurchases under the company's current program to $1.25B... STREET RESEARCH: Street research has been generally positive on SanDisk since its Q3 earnings report, with shares receiving two upgrades the day after reporting Q3 earnings. Shares were upgraded last week to Buy from Hold at Cross Research. Shares were downgraded at RBC Capital in the week following its Q3 earnings report with a $50 price target. Shares were recommended at Lazard Capital, and then Morgan Stanley, in December and yesterday Jefferies raised their price target on shares to $59 from $51...PRICE ACTION: Shares of SanDisk traded lower following its Q3 report, but have climbed more than $4.50, or more than 10.5%, through December and into January. In afternoon trading ahead of today's Q4 report, SanDisk shares are down about 0.7%.
News For SNDK From The Last 14 Days
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October 17, 2014
09:17 EDTSNDKOn The Fly: Pre-market Movers
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07:32 EDTSNDKSanDisk price target lowered to $110 from $120 at UBS
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07:31 EDTSNDKSamsung first to market with new multilayer NAND technology, Nikkei says
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05:42 EDTSNDKSanDisk pullback a buying opportunity, says Piper Jaffray
Piper Jaffray says SanDisk's Q4 guidance missed expectations because the company is seeing more demand than it can fully supply, which it views as a good problem to have. Piper thinks the recent pullback in shares provides a buying opportunity. It lowered its price target for SanDisk shares to $106 from $110 and reiterates an Overweight rating on the name.
October 16, 2014
18:36 EDTSNDKOn The Fly: After Hours Movers
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17:48 EDTSNDKMicron lower by over 1% to $28 after SanDisk Q3 results and guidance
17:35 EDTSNDKSanDisk trades lower after hours, levels to watch
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17:33 EDTSNDKSanDisk continues to trade lower, now down almost 7% after Q4 revenue guidance
17:24 EDTSNDKSanDisk sees Q4 revenue $1.8B-$1.85B, consensus $1.88B
Sees Q4 adjusted gross margin 47%-49%. Guidance from company's Q3 earnings conference call.
17:19 EDTSNDKSanDisk on track for Fusion- io to add to earnings in 2H15
Comment made on company Q3 earnings call.
16:23 EDTSNDKSanDisk lower by 1.5% to $83.75 after Q3 results
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16:08 EDTSNDKSanDisk sees demand for NAND flash continues strong
“Third quarter results reflect the strength of our diversified product portfolio, broad customer engagements and solid execution,” said Sanjay Mehrotra, president and CEO. “Demand for NAND flash continues to be strong across mobile, client and enterprise, where SanDisk’s innovations are creating significant opportunities. As we focus on closing a record 2014, we also look forward to building upon our success in 2015.”
16:06 EDTSNDKSanDisk reports Q3 adjusted gross margin 49%
16:06 EDTSNDKSanDisk reports Q3 EPS $1.45, consensus $1.33
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15:26 EDTSNDKNotable companies reporting after market close
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14:47 EDTSNDKEarnings Preview: Pacific Crest, RBC positive on SanDisk ahead of report
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14:36 EDTSNDKSanDisk October 86 straddle priced for 7.3% move into Q3
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October 15, 2014
15:00 EDTSNDKSanDisk October 84 straddle priced for 7.3% move into Q3
October 14, 2014
07:59 EDTSNDKSanDisk should be bought on weakness, says Pacific Crest
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07:47 EDTSNDKSanDisk October volatility elevated into Q3 and guidance
SanDisk October call option implied volatility is at 98, November is at 44, January is at 35; compared to its 26-week average of 32 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 16.
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