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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: zsteve who wrote (48985)	10/5/1999 12:39:00 PM
From: DJBEINO	Respond to of 53903

05-Oct-99 11:45:06 Investor have reacted positively to Micron Technology's FY99 4Q earnings report, sending the stock $2 5/8 higher to $79. The firm reported a narrower-than-expected loss of $0.07 compared to the First Call consensus forecast for a loss of $0.18. Micron also hosted an upbeat conference call reiterating that it has seen significant improvements in DRAM pricing. In response to MU's earnings report, the Street has issued a slew of positive research notes which include several earnings expectation increases for FY2000. Big Money investors are acting on the revisions, which has sent block trading to heightened levels at 65% of total volume. This activity is also confirmed by the strong percentage of institutional trading reported on I-Watch - a more detailed look at this data revealed that buyers and sellers are neck and neck with 1.4 million shares reported by each side. While the buyers are calling the shots today, there are clearly some profit takers in the market based on both the post-trade and pre-trade I-Watch data. The Semiconductor sector has been unusually volatile in recent weeks, so it is not surprising to see some investors locking in gains on a big up day. We've seen increased activity from momentum investors in recent weeks and we anticipate that these investors are moving in the stock today after being encouraged by the earnings improvement and the firm's upbeat outlook.