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Stock Market & Financial Investment News

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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September 19, 2014
08:03 EDTSNDKInvenSense, NXP, RF Micro chips included in iPhone 6, iFixit reports
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September 15, 2014
07:19 EDTSNDKSNIA to hold a conference
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September 9, 2014
05:22 EDTSNDKToshiba, SanDisk start construction of Fab 2 facility at Yokkaichi, Japan
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September 8, 2014
10:06 EDTSNDKOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AIG (AIG) initiated with a Buy at Citigroup... Agilent (A) initiated with an Equal Weight at Morgan Stanley... Altisource Residential (RESI) initiated with a Neutral at JPMorgan... AngloGold (AU) initiated with an Overweight at JPMorgan... Arista Networks (ANET) initiated with an Outperform at FBN Securities... C1 Financial (BNK) initiated with a Buy at Wunderlich... Cherokee (CHKE) initiated with a Buy at Roth Capital... ContraFect (CFRXU) initiated with a Buy at Maxim... DRDGOLD (DRD) initiated with an Underweight at JPMorgan... Enable Midstream (ENBL) initiated with an Equal Weight at Morgan Stanley... Enservco (ENSV) initiated with an Outperform at Northland... GoPro (GPRO) initiated with an Outperform at FBN Securities... Gold Fields (GFI) initiated with an Overweight at JPMorgan... Gulfport Energy (GPOR) initiated with an Equal Weight at Morgan Stanley... Harmony Gold (HMY) initiated with a Neutral at JPMorgan... Illumina (ILMN) initiated with an Equal Weight at Morgan Stanley... LINN Energy (LINE) reinstated with an Outperform at Credit Suisse... LinnCo (LNCO) reinstated with an Outperform at Credit Suisse... Randgold (GOLD) initiated with a Neutral at JPMorgan... Rentrak (RENT) initiated with a Buy at Needham... Rice Energy (RICE) initiated with an Accumulate at KLR Group... SanDisk (SNDK) initiated with an Outperform at FBN Securities... Seadrill (SDRL) initiated with a Sell at Canaccord... Tesla (TSLA) initiated with an Outperform at FBN Securities... Thermo Fisher (TMO) initiated with an Overweight at Morgan Stanley... Waters (WAT) initiated with an Underweight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Equal Weight at Morgan Stanley.
08:08 EDTSNDKSanDisk initiated with an Outperform at FBN Securities
Target $120.

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