Tom, a real cynic would say conferences are their core business.
Last year's Cowen conference looked like it was a little later in the year (unless there's a difference between their "Fall Technology Conference" and their "electronics conference") but IMHO you can probably just change the references to the stock price in last year's Dow Jones piece:
October 29, 1998
Dow Jones Newswires
Micron Up 10%; Sources Cite Co. Comments At Cowen Meeting
Dow Jones Newswires
NEW YORK -- Micron Technology Inc. (MU) shares continued to rise Thursday, a day after company officials spoke at an SG Cowen & Co. conference.
Company officials told attendees that prices for so-called DRAM chips -- Micron's staple product -- looked firm as PC makers build machines for the Christmas season, said Julie Nash, a spokeswoman for the chip maker. The Christmas build season is typically the strongest for memory chip makers.
All true, however, didn't their shipments decline 10% sequentially that quarter?
DRAM prices have stabilized over the last few months after a two-year freefall caused by a worldwide oversupply.
Micron officials said at the conference that the next crucial indicator for the DRAM market will come after the Christmas season, Nash said.
Two Micron analysts attributed Micron's two-day rise to comments at the Cowen conference. But Drew Peck, a Cowen semiconductor analyst, was attending the conference and couldn't be reached for comment...
Drew Peck rules!
Micron shares were recently up 3 9/16, or 10%, to 39 3/16. Volume was heavy at 8.3 million shares, compared with average daily volume of 4.5 million shares. Micron stock rose 7% Wednesday after the comments.
From Reuters:
Micron stock up, positive comments cited
NEW YORK, Oct 29 (Reuters) - Shares of Micron Technology Inc. (NYSE:MU - news) hit a new year high on Thursday after an official told an investor conference Wednesday the computer memory chip maker expects pricing for its products to remain firm through the holiday season's personal computer building boom.
Traders cited the comments for a jump in Micron's share price of more than 10 percent on Thursday to $39-1/4, up 3-11/16 by mid-afternoon. Micron was the second most active New York Stock Exchange issue with volume of 7.5 million shares.
Micron official Kipp Bedard spoke before SG Cowen's annual electronics conference underway this week in La Quinta, Calif.
In his remarks, outlined by a Micron spokeswoman on Thursday, Bedard told investors that Micron, the top U.S. maker of computer memory chips, expected prices PC makers paid Micron for memory products to remain firm through the Christmas PC manufacturing rush.
Julie Nash, the spokeswoman, noted this is typically the strongest sales season for its products, including the 64-megabyte memory chip that is now standard in most new PCs.
Referring to prices, Nash said, ''They have been stable to having an upward trend over the last six weeks.''...
Micron does not have enough data to characterize the pricing situation beyond the holiday cycle, she said. Micron's first fiscal quarter closes in early November.
And again, that would be the quarter in which it took until an SEC filing 1-13-99 for anyone to find out that shipments actually fell 10% sequentially.
Couldn't find anything on Salomon, but I'd think they'll be there.
Bank America/Montogemery should be having one late September and I think Dataquest may have a semicon conf. the first part of October.
As Public Enemy's Chuck D. might put it:
Time again to make it shine like glass.
Time make it shine like glass, know what I'm sayin'
Come to think of it, didn't Public Enemy also have a little number entitled "Don't Believe the Hype"? <g>
Maybe the real trick is guessing when "belief" turns to "doubt".
Good trading,
Tom
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