A lot of that bounce for SWKS came from Cramer's sit down with the CEO last night. It also worked for WSM and SHAK after he ranted that the market got it wrong after they reported.
He has been bashing MU for some time now and to his credit he has been right. It will all be decided next Thursday that's the bottom line. I think at this point MU just needs to meet and guide in line for the stock to creep higher since tech is in the seasonally week part of the year and MU has been beat up lately. Even Best Buy which sell all this stuff has pulled back some 10% from the recent high when they reported good numbers and increased their dividend. After SNDK warned BBY stock stopped moving higher when the market did. Now MU seems to have the same problem as earnings approach. MU did catch a break today with the INTC/ALTR news. We need to see the shares use the speculation of a bid to build on next week or this may be at $25 into earnings.
It may help keep a slight bid under the shares until earnings which is days away. Shorts may not be as aggressive fearing a possible similar deal with MU. I don't think MU gets gobbled up but you never know.
Residual affect on MU let's see if it holds into the close plus Fed Chair speaks in a few minutes why I have no idea.
I doubt it but anything is possible with the HFTS. You would think with MU's both P/E's that it would hold up well enough and that a more than $10 drop off the high that some of any bad news would be in the shares to some extent. In line earnings with in line guidance may actually help the stock to go higher. It seems obvious that it has been lumped in with SNDK one difference is that MU's portfolio is larger than SNDK.
Ever since Wal-Mart raised the wages the stock has done nothing but go down. That's Wall Street saying two things: one that they believe this small wage increase will hurt earnings which it may do in the short run and two WS does not want anyone but themselves to make a little bit more money.
If the CPSC findings say that the LL products are within acceptable guidelines it will be hard for all these recent lawsuits to be won. Their cases would lack the evidence to actually prove that LL's products are any more dangerous than those sold elsewhere. Of course the results are still some time away and it would seem this will trade in a $28-$33 range for now mostly between $29-$31 on average.
I think you can get this under $60. If MU disappoints next week SNDK will get hit some more. It appears these stocks are seasonally out of favor right now.
Will you get in before or after they report? The way the stock has been acting lately it would appear the market is not expecting much which may actually turn out to be a good thing for MU.
Firms are bullish but the shares cannot get out of their own way obviously affected by the SNDK news. Investors do not want to bet on MU here until they see what MU reports I would guess.