Tuesday, May 15, 5:29 PM
Ahead of his successful campaign to get rid of Scott Thompson and win board seats, Dan Loeb boosted his stake in Yahoo (YHOO). Loeb's Third Point LLC held 70.5M Yahoo shares at the end of Q1, compared with 56M shares and 10M calls at the end of Q4. Third Point also established new positions in AAPL, CSCO, and GOOG, and liquidated its positions in SNDK and WFR. (13-F)
Comment![Tech]
Monday, May 14, 5:07 PM
More on David Tepper: The fund manager made big bets on tech in Q1. Tepper more than tripled his position in Apple (AAPL) to 685K shares, and boosted his Microsoft (MSFT) and Oracle (ORCL) positions by 500K and 1.1M shares, respectively. He also established new positions in GOOG, BRCM, FIO, EMC, NTAP, NUAN, MRVL, and SNDK. (13-F)
Comment![Tech]
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]
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 27, 9:09 AM
SanDisk (SNDK) +2.1% thanks to an upgrade to Buy from Jefferies, a week after it was crushed due to its Q1 report and guidance. The firm sees a favorable mix and improving NAND flash prices boosting margins, and thinks SanDisk's $15/share in cash and IP licensing limit downside. The upgrade comes as Samsung (SSNLF.PK) claims (.pdf) in its Q1 report NAND channel demand and spot prices were weak, though demand for embedded products (smartphones/tablets) was solid.
Comment![Tech, On the Move, Quick Ideas]
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]
Friday, April 20, 9:56 AM
Deutsche Bank is one of several firms downgrading SanDisk (SNDK -12.7%), believing the disappointing H1 performance (I, II) "is a function of the company being focused on the wrong customers and the wrong markets," noting declining revenue share since 2008 which "appears to be accelerating in 2012." Credit Agricole, Piper Jaffray and Caris also weigh in with downgrades.
Comment![Tech, On the Move]
Thursday, April 19, 5:41 PM
SanDisk (SNDK) guides on its Q1 earnings call (webcast) for Q2 revenue of $950M-$1.05B, below a consensus of $1.31B. 2012 sales are expected to fall from 2011 levels (consensus is for 4.1% growth). SanDisk is also guiding for a Q2 gross margin of just 26%-30% (down from Q4's 42.9%), and says some phone OEMs are reducing memory card capacity. SanDisk's lack of exposure to Apple and Samsung appears to be hurting its market position. SNDK -7.3% AH.
3 Comments[Tech, Earnings, On the Move]
Thursday, April 19, 4:21 PM
More on SanDisk (SNDK): Q1 comes in line on revenue but misses on a per share basis due to a decline in revenue. Net income fell 49% Y/Y as its bottom line was negatively impacted by lower-than-expected pricing and demand weakness in certain segments. The company adds that it sees similar negative trends in Q2 as well. Shares -1.9% AH.
Comment![Tech, Earnings, On the Move]
Thursday, April 19, 4:07 PMSanDisk (SNDK): Q1 EPS of $0.63 misses by $0.08. Revenue of $1.21B (-8% Y/Y) in-line. Shares -2.8% AH. (PR)
Comment![Earnings, Tech, On the Move]
Wednesday, April 4, 11:43 AM
Much of the commentary regarding SanDisk's (SNDK -9.5%) Q1 warning involves the solid-state drive (SSD) market. While NAND flash demand for smartphones and tablets is healthy (though SanDisk's lack of exposure to Apple and Samsung could be a problem), the SSD picture is complex. Raymond James thinks SanDisk and Micron (MU -5.1%) are seeing mere short-term weakness ahead of ultrabook launches, but Jefferies is worried ultrabook demand could disappoint. (previously)
Comment![Tech, On the Move, Quick Ideas]
Wednesday, April 4, 9:45 AM
SanDisk (SNDK -8.8%) shares slide after last night's downside Q1 guidance due to weaker than expected pricing and demand, and a downgrade to Outperform from Top Pick at RBC. The firm says accelerated pricing declines are stripping out EPS leverage, but it likes SNDK longer term "given second-half demand drivers," including smartphone, tablet, and ultrabook demand.
Comment![Tech, On the Move]
