Look for a slightly lower low possibly tomorrow. The market almost always brings it lower the next day. One thing could help Friday's shares is a few upgrades. However the jobs number may trump everything tomorrow.
Correction full year revenue average is $2.9 billion. Still a bit below the $2.96 estimate. They will need to tighten that range during the coming months. $.6 billion is a too large of a gap leaves some uncertainty about the year for now.
$2.6-$3.2 billion that's a wide range. If you take the average it's $2.81 billion it's below the $2.96 billion estimate. Now I don't know how analysts will do that number but so far they have not said anything that will make shares go higher.
They did not give guidance in the release. That appears to be the wild card here which could spike or tank shares. I have not checked the 8-K yet but I will wait to hear what they say. Curious why it was not in the written release on my screen.
Who knows if it will go down but if you look at the estimates I see one positive look at the numbers for EPS and revenue going forward they are basically showing little growth in the numbers and if MU boosts their estimates above those numbers the current quarter may not hurt that much even if they miss slightly. The Nazdaq is coming back here at 3:35pm and MU is stuck below $24. Looks like for now they are being cautious. I just want to be clear even if shares go higher later. I'll just trade that new level.
Ron Insana works for Cramer's Street also. Man this is so obvious that Cramer's hedge fund pals are still short from February and has all his mouthpieces out there. When Stephanie Link finally capitulates then all are in.
3,400 at $24.33 not much more upside since. I've been burned before this always seems to happen when I hold into earnings. I actually traded a 1,000 shares earlier and got out with a small profit at $24.07. Good Luck with earnings later! I have more powder now so I'll be watching sold my QCOR today it's been on a tear this week. It seems like they want to close MU under $24 there was a lot of resistance before near $24.10ish.
It just did it again at 1:01pm the same jump from $23.90's to $24+. It has to be the HFT's you are witnessing it first hand. Of course there may be some extra volatility because of earnings today.
Who's watching the tick by tick here on MU? There was a jump from $23.97 to $24.04 then right back down within a minute about 45 minutes ago. Those are not normal moves those are the HFT's ahead of the trades. I see it in some stocks all the time today and other days. This is the scalping they do each day and why a lot of traders and investors just leave the market.
I am on the sidelines until the dust settles. I will watch tonight for any crazy moves in the after hours but most likely I will wait for some point to see where the stock is heading to get back in. You cannot forget markets are near all time highs so if MU disappoints and the markets suddenly correct you could see a possible bigger drop within a week or two but that's kind of an extreme scenario I guess. That insider selling is what scared me to be out on Tuesday. I saw that in BBY which I trade frequently and not long after the stock got killed. I guess we will see if the Cramer/Greenburg spin machine or if Barron's will be correct.
Out today at $24.33 will wait for the dust to settle after Thursday. I had been buying lately and accumulated 3,400 shares so it was time. If it goes higher that's fine but I do not want to be trapped near $20 if that does happen but I doubt it will get there unless they miss big and warn. The insider selling did make me bit nervous also.
Yeah I saw him tonight he has been negative for over a month now. I still believe his hedge fund brothers are still short from the Feb correction. He's in White Plains, NY Barnes and Noble tonight at 7:30pm only minutes from my house almost tempted to go see the half a cro0k in person.