Monday, May 21, 8:13 AM
A group of Elpida Memory's bondholders oppose Micron's (MU +2%) bid to buy the bankrupt Japanese firm as too low, Reuters reports. The creditors have therefore contacted South Korea's Hynix (HXSCF.PK) - which dropped out of the auction - and U.S.-based GlobalFoundries about selling the company to them.
2 Comments[Tech, M&A]
Wednesday, May 16, 12:46 PM
Micron (MU +5.4%) rallies following a bullish Raymond James note. The firm sees reports of Apple securing mobile DRAM capacity at bankrupt Elpida as an "implied endorsement" of Micron's bid for Elpida, and thinks the acquisition could result in a "more strategic relationship" between Apple and Micron. There's certainly no love lost between Apple and current top DRAM supplier Samsung. (earlier)
Comment![Tech, On the Move, Quick Ideas]
Thursday, May 10, 2:43 AM
Micron (MU) confirms at least part of the chatter, saying it is indeed in talks to acquire Elpida Memory. No official word on media reports that Micron has offered more than ¥200B ($2.5B) for the bankrupt Japanese chipmaker.
1 Comment[Tech, M&A]
Tuesday, May 8, 12:00 PM
Should Micron (MU -3.9%) succeed in acquiring Elpida, as is rumored, the DRAM industry will have largely consolidated around 3 vendors: Samsung (SSNLF.PK - 44% share), Micron (23% share), and Hynix (HXSCF.PK - also 23%). Sterne Agee thinks the Street is worried about the deal's price and Micron's financing needs. However, the firm values Elpida's assets at $7B+, far above Micron's reported $2.5B+ offer.
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Monday, May 7, 1:57 AM
Continuing with chatter that Micron (MU) has won the bidding war for Elpida, sources say Micron offered more than ¥200B ($2.5B) for the bankrupt Japanese chipmaker and promised to keep Elpida's two main factories in Japan open and to guarantee jobs for the company's employees, at least for now.
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Friday, May 4, 12:11 PM
This year's plunge in NAND flash memory prices, which has taken a toll on SanDisk (SNDK) and Micron's (MU) margins and stock prices, continued in the second half of April thanks to weak purchasing activity from Chinese buyers and muted end-market demand. The industry hopes strong demand for solid-state drives and mobile devices will offset weak sales of memory cards and USB drives.
1 Comment[Tech]
Friday, May 4, 9:45 AM
Micron (MU +4.2%) has won the bidding war for bankrupt Elpida, according to Japanese broadcaster NHK. The report comes after SK Hynix said it had dropped out of the bidding. Micron recently announced a convertible note offering many thought was Elpida-related. Hopes are up that an Elpida sale will lead to a further reduction in global DRAM capacity, and thus allow DRAM prices to continue their 2012 rally.
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Monday, April 30, 2:44 PM
Dell (DELL) says its $999 XPS 13 ultrabook, launched to reviews that praised its looks but criticized its display, is receiving nearly "3x the expected demand," with interest coming from both enterprises and consumers. Intel (INTC) has to be pleased a pre-Ivy Bridge ultrabook is faring this well, given its huge investment. NAND flash memory vendors SNDK and MU also benefit from ultrabook adoption.
4 Comments[Tech]
Friday, April 20, 12:43 PM
Weak results and/or guidance (I, II, III, IV) from SanDisk (SNDK -13.4%), Freescale (FSL -7.9%), Lattice Semi (LSCC -9.4%), and Altera (ALTR -6.5%) is producing a selloff in chip stocks (SOXX -1.2%), which had been rallying on evidence of rebounding demand. Among the hardest hit (aside from the guilty parties): OVTI -3.9%. SWKS -3.9%. MU -3.7%. CRUS -3.1%.
5 Comments[Tech, On the Move]
Thursday, April 19, 6:43 PM
Micron (MU) is down 3.6% AH following NAND flash memory rival SanDisk's Q1 miss and bleak guidance. Most PC industry names are largely unchanged following Microsoft's FQ3 beat, which was fueled by solid Windows and Office sales.
Comment![Tech, On the Move]
Monday, April 16, 1:16 PM
TSMC (TSM) is looking to buy a chipmaking facility from DRAM vendor ProMOS, reports Digitimes. Such a deal would be further evidence of the shakeout taking place in the DRAM industry (one that's bolstering prices for MU and Samsung), and also of the chip industry's changing dynamics: ProMOS and other DRAM makers have been slashing output due to soft PC demand, while TSMC recently raised its 2012 capex forecast due to strong mobile chip orders.
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Friday, April 13, 8:51 AM
Micron (MU) -2.7% after S&P slashes its credit outlook to negative, and the company prices its $870M convertible note offering, which could be ammo for an Elpida bid. While the interest rates for the notes are low, they sport conversion prices below $10/share, which makes future dilution a strong possibility. Nonetheless, Baird considers Micron's recent selloff a buying opportunity, and predicts the chipmaker will return to profitability this summer.
1 Comment[Tech, On the Move, Quick Ideas]
Thursday, April 12, 4:34 PM
S&P cuts its outlook on Micron Technology (MU) to negative from stable, citing the chip maker's increased leverage and soft memory-market conditions.
Comment![Tech]
Thursday, April 12, 9:29 AM
Oppenheimer thinks Micron's (MU) convertible note offering is intended to show "money in the bank" for a bid for Elpida: "If the $870M offering represents all that Micron has to fork over and respective governments retire Elpida and Rexchip debts or Micron puts in a bid together with other cash sources, we could warm up to it. Otherwise, it is more money into the DRAM drain." MU +1.2% premarket.
1 Comment[Tech, M&A]
