Orlando, FL -- (SBWIRE) -- 10/28/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On SanDisk Corporation (NASDAQ:SNDK), Micron Technology, Inc. (NASDAQ:MU).
SanDisk Corporation (NASDAQ:SNDK) shares dropped 0.56% to $69.02. The company on Oct. 24 announced the pricing of $1.3 billion principal amount of Convertible Senior Notes due in 2020 (the "notes"). The size of the offering of the notes was increased from the previously announced aggregate principal amount of $1.0 billion. The notes were priced at 100% of the aggregate principal amount and will bear interest at a rate of 0.50% per annum. The Company has granted the initial purchaser for the offering a 30-day option to purchase up to an additional $200.0 million principal amount of notes from the Company to cover over-allotments, if any.
Additionally, the company on Oct. 16 announced results for the third quarter ended September 29, 2013. Third quarter revenue of $1.63 billion increased 28 percent on a year-over-year basis and increased 10 percent sequentially. On a GAAP basis, third quarter net income was $277 million, or $1.18 per diluted share, compared to net income of $77 million, or $0.31 per diluted share, in the third quarter of fiscal 2012 and $262 million, or $1.06 per diluted share, in the second quarter of fiscal 2013.
Are investors worried about the recent updates with SNDK? Find out with a free trend analysis HERE
Micron Technology, Inc. (NASDAQ:MU) shares declined 1.49% to $16.58. The company on Oct. 10 said it swung to a quarterly profit, aided by one-time gains from its acquisition of Elpida Memory. The company reported a fourth-quarter profit of $1.71 billion, or $1.51 a share, as against a loss of $243 million, or 24 cents a share, for the year-ago period. Revenue rose to $2.84 billion from $1.96 billion. Analysts expected Micron to report a profit of 24 cents a share, on revenue of $2.7 billion.
Additionally, MU’s stock has been upgraded by TheStreet Ratings from hold to buy on Oct. 21.
Is MU going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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