MICRON GAINS DESPITE A BIG GUIDANCE MISS

-

 


MICRON TECHNOLOGY IS TRADING DOWN 1.94% AT 50.01

Shares of Micron Technology (NASDAQ:MU) are up nearly 3% in pre-market Friday despite the chipmaker reporting extremely soft guidance for its first fiscal quarter.

Micron’s FQ4 earnings report has so far proved to be “sell the rumor buy the news” as shares trade higher despite a significant guidance miss. Micron reported an EPS of $1.45 on revenue of $6.64 billion, which compares to analyst estimates of $1.41 per share on revenue of $6.81 billion.

For this quarter, the company is looking for EPS of $0.02 (the midpoint) on revenue of $4.25 billion (the midpoint). The offered guidance compares to the analyst consensus of $0.64 per share on revenue of $5.62 billion. The adjusted gross margin is seen between 24% and 28%, marking another material miss as consensus stood at 33.6%



Read More

Comments

Post a Comment

Popular posts from this blog

TECHNICAL ANALYSIS REPORT – 12 AUGUST 2022

-
Image
  WALLSTREET LOWER ON THE EXPECTATION THAT FED STILL NEEDS AN INTEREST RATE HIKE   Asia-Pacific stocks tracked Wall Street losses and the yen fell on Friday. The Shanghai Composite is down 0.11% at 3,278.39. Overall, the Singapore MSCI is down 0.03% at 308.45. Over in Hong Kong, the Hang Seng Index is up 0.61% at 20,150.00. In Japan, the Nikkei 225 is up 2.63% at 28,510.00, while the Topix index is up 2.07% at 1972.50. South Korea’s Kospi is up 0.11% at 2,526.55. Australia S&P/ASX 200 down 0.65% at 7024.90. Top News of the Day: The Nasdaq and S&P 500 retreated to close lower on Thursday on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer prices despite fresh evidence of cooling inflation. The S&P 500 closed a tad lower after earlier hitting fresh three-month highs following data that showed the U.S. producer price index (PPI) unexpectedly fell in July. Market Summary as per 11/08/2022: European equities Thurs
Read more

GET DAILY PROFITABLE TRADE SIGNAL WITH CAPITAL STREET FX

-
Image
    USDZAR BUY = 16.7273 TARGET= 17.7765 SL= 16.6961                                                    SIEMENS AG SELL = 104.81   TARGET= 103.37 SL= 106.48                                                 BRENT CRUDE OIL SELL = 99.54 TARGET= 96.87 FOR DAILY LIVE SIGNALS VISIT US
Read more

EURCHF TECHNICAL ANALYSIS, FORECAST AND TRADE SIGNALS

-
Image
  EURCHF TECHNICAL ANALYSIS: WEEKLY CHART In the weekly charts, EURCHF is trading in an upward channel. It is trading above MA (20) but below MA (50) and MA (100). RSI is in buying zone which indicates bullishness. MACD is currently trading below zero which indicates bearishness. The immediate support is at 1.02268 and the resistance level is at 1.05095 EURCHF is trading in an upward channel until there is a trend reversal. EURCHF TECHNICAL ANALYSIS: DAILY CHART CLICK HERE FOR FUL L REPORT
Read more