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Los Angelas, CA -- (SBWIRE) -- 02/06/2013 -- Micron Technology, Inc.(NASDAQ:MU) is raising $440 million via the sale of two series of convertible senior notes maturing in 2033, to qualified institutional buyers.
Micron said that it would grant the initial purchasers of its notes an over-allotment option respect to an additional $30 million aggregate principal amount of 2033E Notes and an additional $30 million aggregate principal amount of 2033F Notes.
The funds raised will be used to finance the repurchase, redemption or repayment of a portion of Micron’s 1.875 percent Convertible Senior Notes due 2014.
The interest rate, the initial conversion price, redemption provisions and other terms of the Notes will be determined by negotiations between Micron and the initial purchasers, it added.
Can MU Extend Gain? If Yes, How Far It Can Go? Find Out Here
Nokia Corporation (ADR)(NYSE:NOK)’s Lumia 920 mobile phone prices seem to be in a free-fall. From AT&T’s $100 launch price in November, the price has now fallen to $40 on retail website Amazon.
While the company attributes the lower prices to holiday season discounts, sales figures tell a different story. The Lumia 920 has managed to sell only 4 million sets in the second quarter of 2012, unlike the iPhone which sold more than 35 million units in the same period.
Other Nokia phones like the Lumia 822 and the Lumia 810, which were also priced at $100 at launch, are now available for free with a two year contract by Verizon and T- mobile.
Post the price cut, the target market of the Lumia phone will change as the low price makes it a good alternative to a smartphone.
Can NOK Extend Gain? If Yes, How Far It Can Go? Find Out Here
Apple Inc.(NASDAQ:AAPL), which, according to the Wall Street Journal and Nikkei has decided to scale down its requirements of components for the iPhone 5 by nearly half on dwindling demand.
This sent the shares of Apple down below $500 levels in intra-day trades. The newspapers also said that Apple had already notified its suppliers last month about the cutback in its demand.
Analysts, especially those who are bullish on the Apple stock, are however treating the news
How Should Investors Trade AAPL After The Recent Volatile Moves? Find Out Here
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