At this point it is obvious that this OK report gives analysts a chance who had too high targets at this moment a chance to cut them to lower levels. The quality of their earnings versus the lowered estimates gives will not propel the share price to higher levels for now but it's a start and may allow a bottom to have been formed unless markets totally crash going forward then all bets are off for many stocks.
How do they get away with the miscue on the guidance and say they will release it soon? If they do anything near what you say the shares are going lower when they release the update.
Hopefully near $15.90 there was a lot of volume even up there..... but there is something wrong with what they said about the guidance an what it shows on their slide show. They said they would let us know "shortly" I think there is something wrong with their disclosure for Q1 guidance.
.20-.26 & $3.35-$3.60 billion vs. .38 & $3.75 billion... On the CC they said those numbers were a mistake but I don't see corrected numbers on their slide show and they said they would let us know "shortly". On page 17 they said that the numbers were accurate for Q1 2016 guidance but those are the same lowered numbers they originally gave. Something is wrong with this picture.
It was better than the prior CC and analyst day but the execs did leave a lot of the analysts questions about the future unanswered.
That's what I think too. Futures may be flattish in the AM with the jobs number coming so shares may move on it's own momentum but I think it may break $16 at some point but I think a lot of the move above $15.50 is short covering. In this market anything can happen I would not be shocked if we even see the $15 area again tomorrow. For now it appears to be $15-$16 but we have to see the analysts moves tomorrow. On the CC execs did a better job on this call but a lot of the analysts questions were left unanswered as far as what they saw for the future so they may not be tripping over each other to move their targets higher since many are already in the $20's and $30's. The quarter is a start to get the stock off the bottom I guess.
after MU reports it may be a non event with not a big move either way. If they beat it will not be a huge beat I believe so shares may climb a few percent and if they miss by a small amount shares have been hit so hard that they may only drop a few percent. Just my take.
at 3:30 am Dow futures peaked around 171 (woke up was watching Taxi Driver great movie) and Nazdaq around 61 after the job cuts news a few minutes ago the futures have dropped even more after eroding all morning already. So much for a follow up rally after the Chinese PMI number being OK and Europe PMI's kind of mixed as far as beating estimates. MU's trade before earnings will be fun to watch today. I'm guessing a range of $14.60-$15.25 today similar to yesterday.
A couple of years is an eternity in this market. By then he will probably be long already you have to admit he has been right painful as it may be for some here.
Actually $14.98 not a bad day they did run it up earlier the question is how will they treat the stock in the regular session before they report? Will buyers be around like today or will they be cautious and take their gains from the market moon shot today.
You cannot base anything on that but MU has cratered so in line may be good enough heading into the seasonally strong time of year. Tech gets bought in the next month or so and tech has been crushed which does make prices more attractive.
Minutes away now estimates have been lowered substantially so if they miss there is no excuse....No China, no dollar, etc. Personally I think they do beat and they are a little bit fortunate to be reporting on a market friendly day.