|Bid||60.460 x 800|
|Ask||60.440 x 800|
|Day's range||59.090 - 61.830|
|52-week range||26.850 - 64.660|
|PE ratio (TTM)||7.30|
|Earnings date||27 Jun 2018 - 2 Jul 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||77.72|
Jobless claims drop fourth week in a row to 218,000The Nasdaq Composite has gained 12% so far this year. U.S. stocks were trading lower on Thursday, with the Dow Jones Industrial Average on track to extend its losing streak to an eighth straight day, as uncertainty over trade policy weighed on investor sentiment. The Dow Jones Industrial Average (^DJI) was off 129 points, or 0.5%, to 24,529.
Micron Technology Inc.’s strong stock rally received another jolt Thursday, after the company’s latest earnings report provided enough reassurance that demand for its memory products was here to stay. The memory-chip company’s fourth-quarter forecast came in ahead of analysts’ expectations in a Wednesday afternoon earnings report, which turned the shares green in after-hours trading. “Micron continues to fire on all cylinders, with the company achieving record results in the May quarter, followed by guide for the August quarter that is even better,” wrote Evercore ISI analyst C.J. Muse, who has an outperform rating and $100 price target on Micron’s stock.
Micron Technology Inc.’s third-quarter earnings received a positive reception on Wall Street, as outlooks indicated that the market for memory suppliers looks favorable. Expanding data consumption trends across enterprise and mobile markets, implies that memory chips will see "a stable environment" sooner than later, Micron’s chief executive officer Sanjay Mehrotra previously told Bloomberg. For UBS Securities, trajectory of gross margins "remains the biggest tactical question" going into fiscal year 2019.
As far as our corporate earnings calendars are concerned, this is the week each quarter that stands as an outlier ??? in between two big earnings seasons.
June has been chocked full of meetings that have shaken up investors, but now it is oil’s turn as OPEC revs up. Still, don’t bet you know the cartel so well, says our call of the day.
Opinion: Memory chip maker’s stock gains after it combats every doomsday scenario with results and forecastBloomberg News/Landov”The industry we operate within is structurally different than in the past,” Micron Chief Executive Sanjay Mehrotra said Wednesday. Micron Technology Inc. once again countered all the doubts surrounding its stock Wednesday, as executives forcefully contended that the current strength in memory markets is not just a cyclical upturn. Micron (MU) on Wednesday reported strong profit and sales gains with a forecast that showed confidence that demand for memory chips will continue, along with higher prices of those components.
Shares of memory-chip giant Micron Technology (MU) are up $1.54, or almost 3%, at $60.49, in late trading, after the company this afternoon reported fiscal Q3 revenue and profit that both beat expectations, despite having already pre-announced a higher projected results in late May, and forecast revenue and profit this quarter higher as well. During a conference call with analysts following the report, CEO Sanjay Mehrotra said the company "continues to perform exceptionally well,” citing “strong results across the breadth of our end markets,” and he pointed in particular to sales of parts into the mobile technology market, where revenue rose by 12%.
Micron Technology, Inc. (MU) just released its latest quarterly financial results, posting non-GAAP earnings of $3.15 per share and revenues of $7.80 billion.
Fourth-quarter projection beat analyst estimates, shows confidence that memory prices will stay highBloomberg NewsMicron’s memory chips cost a lot more, pushing profit and sales higher. Micron Technology Inc. continued to post huge gains in profit and revenue amid high memory-chip prices in a Wednesday earnings report, and the company’s forecast showed confidence that the rise will continue, pushing shares higher after hours.