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Search resuls for: "Micron's"


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☆ 'Light at the end of the tunnel:' Some analysts see improvements ahead for Micron after tough quarter
  + stars: | 2023-03-29 | by ( Hakyung Kim | Https | Www.Linkedin.Com In Hakyungkim | ) www.cnbc.com   time to read: +5 min
The firm has a price target of $65, which implies 9.6% from the stock's closing price on Tuesday. Meanwhile, JPMorgan said that it is "starting to see some light at the end of the tunnel" for Micron as inventory levels begin to improve. The firm has a price target of $75, implying 26.5% upside from Tuesday's close price. His price target of $46 implies shares falling by almost a third from their closing price on Tuesday. Micron shares have rallied more than 18% in 2023, but have tumbled 27.7% over the last 12 months.
☆ Micron's worst quarter is behind them, says Mizuho's Vijay Rakesh
  + stars: | 2023-03-29 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicron's worst quarter is behind them, says Mizuho's Vijay RakeshVijay Rakesh, managing director and senior semiconductor analyst at Mizuho, joins 'Squawk on the Street' to discuss his thoughts on Micron after the company missed fiscal second-quarter expectations.
☆ Wednesday, March 29, 2023: Cramer says this stock is a 'very strong buy'
  + stars: | 2023-03-29 | by ( Joshua Natoli | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWednesday, March 29, 2023: Cramer says this stock is a 'very strong buy'Jim Cramer and Jeff Marks discuss why they see leeway for stocks in the portfolio to rally. Jim breaks down Micron's earnings effect on semiconductor stocks in the Charitable Trust. Jim also says he still thinks highly of a new Club holding despite fetching a fresh downgrade.
☆ Stocks making the biggest moves midday: Micron, Paramount, McCormick and more
  + stars: | 2023-03-28 | by ( Pia Singh | ) www.cnbc.com   time to read: +3 min
Check out the companies making headlines in midday trading Tuesday. Micron Technology — The semiconductor stock was down 2.8% ahead of its scheduled second-quarter earnings report after the bell on Tuesday. Paramount — Shares of the media giant gained 3.6% during midday trading on a rating upgrade from Bank of America from neutral to buy. McCormick & Company — The spice maker's stock price jumped about 10% during midday trading after reporting better-than-expected earnings for the first quarter. Walgreens posted revenue of $34.86 billion for the most recent quarter, compared to analysts' estimates of $33.53 billion, according to Refinitiv.
☆ Memory chipmaker Micron expects revenue drop in line with Wall St view, shares rise
  + stars: | 2023-03-28 | by ( Akash Sriram Jane Lee | Akash Sriram | Jane Lee | ) www.reuters.com   time to read: +2 min
With a glut still nagging the chip industry, Micron expects the deepest revenue drop since 2001. Micron shares in after hours trading rose about 2%. The company expects third-quarter revenue of $3.70 billion plus or minus $200 million, matching analysts' average estimate, according to Refinitiv data. Revenue for the second quarter fell by about 53% to $3.69 billion, compared with estimate of $3.71 billion. Net loss was $2.3 billion, compared with a profit of $2.26 billion a year earlier.
☆ Cramer: This market is split in two and only one part is worth owning right now
  + stars: | 2023-01-08 | by ( Jim Cramer | ) www.cnbc.com   time to read: +10 min
Why didn't those who think Powell is a doofus speak up and say maybe he's gotten it right? Its market cap looks too big, but it might actually be right because of its service revenue. The rest of the market, including stocks like Micron, will trade as it has in any recession. But the bottoming process for high-growth tech is pretty unfathomable because it was never valued right in the first place. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ UBS reveals its top semiconductor picks for 2023
  + stars: | 2022-12-29 | by ( Samantha Subin | ) www.cnbc.com   time to read: +1 min
Once high-flying semiconductor stocks suffered in 2022, but UBS is betting on these names in the new year. The chip sector suffered as demand for consumer products like PCs and smartphones dwindled, and supply constraints weighed on production. Those issues are far from over, but UBS views some stocks as better positioned to ride out the new year. "Nonetheless, we are bullish on semiconductor stocks for 2023 — expecting stock momentum to really build into CQ2 and 2H:23 before the ISM likely bottoms late in the year." The chip stock, commonly known for its PC and server chips, made history this year as it surpassed its rival Intel in market capitalization .
☆ Micron's weak results indicate Nvidia, AMD and Qualcomm are not out of the woods yet
  + stars: | 2022-12-23 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +9 min
But based on what Micron had to say, we're not expecting to see shares of Nvidia, AMD and Qualcomm take off yet. Micron's PC forecast is in line with those from Intel (INTC) and other third-party estimates, Wells Fargo said in a note to clients. Data center/cloud In general, data center chips have been relatively resilient compared with the weakness in consumer-focused areas like PCs and mobile phones. But as concerns mount about a potential recession, there's been concerns that data center could be the next shoe to drop. As mentioned, our investment thesis in Nvidia and AMD rests largely on the long-term growth of their data center businesses.
☆ Morning Bid: Grinch (re)appears
  + stars: | 2022-12-23 | by ( ) www.reuters.com   time to read: +2 min
And so the safe-haven U.S. dollar is back on the prowl, with Asian shares (.MIAPJ0000PUS) set to end in the red for a second straight week. Investors will now focus on U.S. personal consumption expenditures data, due later on Friday, which will provide more clues on the direction of inflation as traders look ahead to 2023. Some are clinging to the hope that central banks will likely pause interest rate hikes next year in the face of an economic slowdown. But as Generali Investments strategists put it, central banks are still showing their teeth, committed to tackling inflation, and an outright policy pivot looks distant. In the corporate world, chip stocks slumped worldwide after Micron's (MU.O) dour forecast on what the chipmaker called a "significant supply demand mismatch".
☆ Cramer explains how Micron's latest quarterly results affected markets on Thursday
  + stars: | 2022-12-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer explains how Micron's latest quarterly results affected markets on ThursdayCramer gave his take on how the semiconductor maker's latest quarterly earnings dragged down the market on Thursday.
☆ Forget next year. The tech downtrend may be in danger of leaking into 2024
  + stars: | 2022-12-22 | by ( Bob Pisani | ) www.cnbc.com   time to read: +2 min
Weak outlook, reduced estimates, significant oversupply. Looking for an imminent bottom in global tech demand is proving very elusive, at least if you look at Micron's earnings report. "These are the most challenging conditions for the memory market since the financial crisis," Chris Caso at Credit Suisse said, after he looked over Micron's numbers. "Losses mount over significant oversupply," Joseph Moore at Morgan Stanley said. "In a rapidly deteriorating memory environment driven by inventory corrections/demand weakness across nearly every end market, pricing continues to be the biggest headwind to memory profitability/earnings," Harlan Sur at JPMorgan warned.
☆ The magnitude of downside for Micron was worse than people expected, says Cowen's Sankar
  + stars: | 2022-12-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe magnitude of downside for Micron was worse than people expected, says Cowen's SankarKrish Sankar, Cowen senior research analyst, joins 'Power Lunch' to discuss why Micron's earnings results took the markets by surprise, if AMD is more exposed to headwinds than Micron and more.
☆ Stocks making the biggest moves premarket: CarMax, Micron, Under Armour and others
  + stars: | 2022-12-22 | by ( Peter Schacknow | ) www.cnbc.com   time to read: +2 min
Check out the companies making headlines before the bell:CarMax (KMX) – The auto retailer's stock slumped 12.7% in the premarket after its quarterly profit and revenue fell well short of estimates. Micron Technology (MU) – Micron shares fell 2.9% in premarket trading after the chip maker reported a wider-than-expected quarterly loss and revenue that fell short of Wall Street forecasts. Tyson fell 1% in premarket action. Global Business Travel Group (GBTG) – The American Express spin-off was rated outperform in new coverage at Evercore ISI, which expects the business travel platform to benefit from its leading position in the industry and from a rebound in business travel recovery. Global Business Travel Group rose 1.6% in premarket trading.
☆ Here's what Wall Street analysts had to say after Micron's disappointing earnings report
  + stars: | 2022-12-22 | by ( Sarah Min | ) www.cnbc.com   time to read: +4 min
Micron Technology reported surprisingly weak quarterly results, raising concern among Wall Street analysts. On Wall Street, many analysts say the stock remains a buy, though they expect the semiconductor name will still face challenges ahead. His $65 price target implies the stock can jump more than 26%. The analyst reiterated a hold rating, as well as a $55 price target that implies 7% upside from Wednesday's closing price. He lowered his price target to $46, down from $49, implying shares could fall another 10% from Wednesday's closing price.
☆ Morgan Stanley: It's going to be challenging for the whole memory chip sector, there's too much inventory
  + stars: | 2022-12-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley: It's going to be challenging for the whole memory chip sector, there's too much inventoryMorgan Stanley semiconductor analyst Joseph Moore discusses Micron's latest results, and whether the industry will be able to move past the supply and demand issues that have plagued it the past few years.
☆ Jim Cramer on Micron's third-quarter earnings miss, plans to cut jobs
  + stars: | 2022-12-22 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer on Micron's third-quarter earnings miss, plans to cut jobsCNBC's Jim Cramer and the 'Squawk on the Street' team discuss shares of Micron after the chipmaker reported wider-than-expected quarterly loss.
☆ Thursday, Dec. 22, 2022: Cramer says buy this stock by the end of the day
  + stars: | 2022-12-22 | by ( Joshua Natoli | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThursday, Dec. 22, 2022: Cramer says buy this stock by the end of the dayJim Cramer and Jeff Marks break down why Micron's latest earnings report is having such a broad impact across the semiconductor space, particularly the Investing Club portfolio holdings in the sector. Jim shares two stocks he likes right now, one in particular, he's telling Club members to buy today.
☆ Semis are falling because of Micron's lower guidance for 2024, says Bernstein's Stacy Rasgon
  + stars: | 2022-12-22 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSemis are falling because of Micron's lower guidance for 2024, says Bernstein's Stacy RasgonStacy Rasgon, Bernstein senior semiconductor analyst, joins 'Closing Bell' to discuss Micron as the company guided gross margins down.
☆ Micron's stock is close to a bottom, says Wedbush's Matt Bryson
  + stars: | 2022-12-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicron's stock is close to a bottom, says Wedbush's Matt BrysonMatt Bryson, Wedbush, joins 'Closing Bell: Overtime' to discuss Micron's earnings as its stock falls after reporting.
☆ Semiconductor maker Micron announces 10% staff reduction, suspends bonuses
  + stars: | 2022-12-21 | by ( Kif Leswing | ) www.cnbc.com   time to read: +3 min
Semiconductor maker Micron announced on Wednesday that it would reduce its headcount by about 10% in 2023, in the latest example of a technology industry slowdown affecting employment. The company said that it would hit its reduction target through voluntary departures as well as layoffs. Micron's restructuring comes after other semiconductor companies have announced hiring freezes or layoffs. But it's not just semiconductor companies adjusting after two pandemic-fueled years of growth and supply issues. Tech companies including Meta , Twitter, Snap , Stripe, and Tesla have also cut staff as companies gird for a potential recession and higher interest rates.
☆ Charter's Ed Snyder on Micron: It's not going to be a happy quarter
  + stars: | 2022-12-20 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharter's Ed Snyder on Micron: It's not going to be a happy quarterEd Snyder, Charter Equity Research, joins 'Closing Bell: Overtime' to discuss what to expect from Micron's earnings report tomorrow.
☆ In COVID U-turn, China's message to the people shifts from war to self-care
  + stars: | 2022-12-14 | by ( Ryan Woo | ) www.reuters.com   time to read: +4 min
Last week, in one fell swoop, China cut away most of the tenets governing its stifling zero-COVID policies, effectively ending its war on the pandemic. "Be the first person responsible for the epidemic", it has said, which is emerging as China's new public health slogan. So far, China's official COVID death toll remains unchanged at 5,235 since the domestic epidemic curbs were removed. The suddenness of the policy shift has not yet been explained to the public, except that Omicron has weakened. But Beijing resident Charlie Zhang, 42, said he was not enthused about the recent dramatic changes in COVID policies, believing it would be hard for the elderly to recover from Omicron.
☆ Inside China's fight over the future of zero-COVID
  + stars: | 2022-12-02 | by ( David Stanway | ) www.reuters.com   time to read: +10 min
After nearly three years, a significant loosening of zero-COVID measures has been signalled by senior government officials and public health experts. Vice Premier Sun Chunlan said on Thursday that China's health system had "withstood the test" of COVID, allowing further adjustments to state policies. "You can have zero-COVID, but you can't have a healthy economy, and you can have a healthy economy, but you can't have zero-COVID." Laura Yasaitis, a public health expert at the Eurasia Group think-tank who follows China's zero-COVID policies, said fear of the virus likely varied widely across the country, as well as within cities or provinces. Officials have repeatedly said that China's health system would be unable to cope with a surge in cases, with medical resources unevenly distributed across the country.
☆ FDA pulls U.S. authorization for Eli Lilly's COVID drug bebtelovimab
  + stars: | 2022-11-30 | by ( ) www.reuters.com   time to read: +1 min
Nov 30 (Reuters) - Eli Lilly and Co's COVID-19 drug bebtelovimab is not currently authorized for emergency use in the United States, the Food and Drug Administration said, citing it is not expected to neutralize the dominant BQ.1 and BQ.1.1 subvariants of Omicron. Wednesday's announcement takes away authorization from the last COVID-19 monoclonal antibody treatment, leaving Pfizer Inc's (PFE.N) antiviral drug Paxlovid, Merck's (MRK.N) Lagevrio and Gilead Sciences' (GILD.O) Veklury as treatments for the disease, besides convalescent plasma for some patients. AstraZeneca Plc's monoclonal antibody Evusheld is also authorized for protection against COVID-19 infection in some people. The drug, which was discovered by Abcellera (ABCL.O) and commercialized by Eli Lilly, received an authorization from the FDA in February. BQ.1 and BQ.1.1 have become the dominant strains in the United States after a steady increase in prevalence over the last two months, surpassing Omicron's BA.5 sub-variant, which had driven cases earlier in the year.
☆ Wall Street ends down after Target outlook, Micron supply cut
  + stars: | 2022-11-17 | by ( Lewis Krauskopf Amruta Khandekar Ankika Biswas | Lewis Krauskopf | Amruta Khandekar | ) www.reuters.com   time to read: +4 min
Shares of Target Corp (TGT.N) tumbled 13.1% after the big-box retailer forecast a surprise drop in holiday-quarter sales. The S&P 500 consumer discretionary sector (.SPLRCD) shed 1.5%. The S&P 500 information technology sector (.SPLRCT) fell 1.4% and the Philadelphia SE Semiconductor index (.SOX) sank 4.3%. Elsewhere in retail, shares of Lowe's (LOW.N) rose 3% after the home improvement company raised its annual profit forecast. The S&P 500 posted 3 new 52-week highs and 2 new lows; the Nasdaq Composite recorded 71 new highs and 133 new lows.
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