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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: cubsfan who wrote (4880)	2/2/2009 5:29:50 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

Thanks, it is not trading so bad, given the total collapse of prices as well as demand. It briefly traded 12 now, but now looks nearer to 11. If the sector did a tad better it would have gone up further. I also sold because I missed the 13s and those two lone highs stick out and were both reversed. From currencies I remember such a "cat" and often, further unwinding comes on the right side Then, for the many stocks I either owned or looked at, buyout offers are not forthcoming, neither for SNDK, so far. By the way: SNDK 10 now!

To: cubsfan who wrote (4880)	2/2/2009 5:38:26 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 6370

Fugly: ... Despite the huge loss, SanDisk's shares rose more than 4% in late trading on better-than-expected revenue. But the stock later fell on the company's weaker-than-expected sales outlook for the current quarter. In a prepared statement, SanDisk CEO Eli Harari said the company faced "a very difficult pricing environment, macroeconomic turmoil and the impact on consumer purchasing." "We are very disappointed with our fourth-quarter bottom line results, which included significant asset impairment and inventory related charges," Harari said. He said the company is moving to "curtail our captive output, conserve cash, and reduce capital and operating expenditures." But Harari also noted that the company believes the "drastic industry-wide capital expenditure cuts announced for 2009 will contribute to a better balance between supply and demand and an improved pricing environment in our markets later in 2009 and into 2010." Chip makers have been hurt by a glut in memory products, such as NAND Flash microprocessors, which has led to a steady decline in average selling prices. In a call with analysts, Harari said, "The Flash industry is at a crossroads. Three consecutive years of price reductions exceeding cost reductions have squeezed profitability out of this industry, even for the most competitive suppliers and this has been exacerbated by the global economic recession." For the current quarter, the company said it expects revenue in the range of $475 million to $575 million. Analysts had expected the company to post sales of $631.7 million, according to a consensus survey by Thomson Reuters