2008-04-09 13:20:07 Spansion downgraded to neutral at FTN Midwest on adverse emerging markets demand: iii.co.uk
EDIT: flyonthewall about Sandisk:
April 9, 2008
14:32 EDT SNDK theflyonthewall.com: Technical Analysis story about SNDK
The shares are up today on higher NAND spot pricing trends. The stock has been recovering off a downtrend snapped on March 31st. Resistance is at the upper limit of the short-term bullish price channel at $27.53. Support is at $26.51 (the midpoint of the price channel) and the lower limit of the channel at $25.17. :theflyonthewall.com
09:26 EDT SNDK theflyonthewall.com: Recommendations story about SNDK from Citigroup
Citigroup said SNDK said the positive bias in NAND spot pricing has occurred over the last week following weekly declines in Q1. Shares are Buy rated. :theflyonthewall.com
April 4, 2008
09:21 EDT SNDK theflyonthewall.com: Recommendations story about SNDK from American Technology
Am Tech believes the semiconductor sector has already passed its bottom, and they expect the sector to advance significantly. The firm sees several signs that the stocks are becoming more attractive to value investors, and Linear Technology (LLTC),Intersil (ISIL),Cypress, (CY) Atmel (ATML), SanDisk (SNDK), and Micron (MU) are their top picks. :theflyonthewall
Fly about MU:
April 8, 2008
07:12 EDT MU theflyonthewall.com: Recommendations story about MU from Wachovia
Wachovia believes DRAM business conditions could improve in the next few months and that MU's actions related to slowing down NAND flash expansion should benefit shares. The stock is Outperform rated. :theflyonthewall.com
April 6, 2008
19:32 EDT MU theflyonthewall.com: Periodicals story about MU
Technology Trader columnist Eric Savitz comments on the memory business which is struggling with mammoth price declines. In particular, Micro (MU) illustrated the problem last week, in announcing results for its FQ2. In that period, DRAM prices fell 15% from their levels just one quarter earlier; NAND flash prices slid 30%. Worse, on a yoy basis, DRAM prices plunged 60%, and NAND, 70%. Micron's Q2 revenues were 11% below Q1's and fractionally under those a year earlier. But with the competitive pressure on, Micron kept spending. Savitz says the funny thing is, that the day after Micron reported lower-than-expected revenue and a larger-than-forecast loss, analysts showed it a lot of love, boosting the stock by more than 6%. Micron's cost cuts should leave it well-positioned to capitalize when the market turns, which some think will happen in a quarter or two. Micron will never be a huge earnings story. But, at less than $7 a share, it trades at just 70% of book value and recently fell to a 14-year low. It has $2B in cash. The stock looks ugly, but that's when you buy it. :theflyonthewall
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I'm not sure how Spansion is going to finance itself given the rev shortfall. Benefits are expected in q3, half in q2. But the goods need to be sold too, which was a bit more the problem than I expected (lower end of guidance). I don't see China kicking back into gear immediately.
Regards,
Rink
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