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Fly News Breaks for October 14, 2015
WDC, SNDK, MU
Oct 14, 2015 | 06:12 EDT
Jefferies analyst Sundeep Bajika says the potential acquisition of SanDisk (SNDK) would be a positive for Micron (MU). Bloomberg last night reported that SanDisk hired a bank to explore a sale and that Micron and Western Digital (WDC) have possible interest. A Micron-SanDisk combination would create a stronger U.S. memory-maker capable of competing more effectively with Samsung and SK Hynix, Bajika tells investors in a research note. Assuming a 30% buyout premium to yesterday's closing price of SanDisk, Bajika estimates the combined entity would generate 2016 earnings per share of $2.92, 10% higher than Micron's standalone EPS of $2.66. He keeps a Buy rating on Micron with a $30 price target. The stock traded up 52c to $18.70 last night following Bloomberg's report. SanDisk is up $5.85 to $67.62 in pre-market trading.
News For MU;SNDK;WDC From the Last 2 Days
WDC
Mar 27, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here
WDC
Mar 26, 2024 | 16:15 EDT
Evercore ISI initiated coverage of Western Digital with an Outperform rating and $80 price target. The firm views the company as "uniquely positioned to outperform given a host of tailwinds," noting that its estimates are about 10% higher than the Street's. While investors have been "somewhat wary" of the name given it's "too complicated", Evercore expects the story to get "less complicated" over the next two to three quarters as Western Digital splits in two distinct assets, says the analyst, who adds that the firm's analysis suggests on a sum of the parts basis, "the asset should be worth $80-85," though some stranded costs could "diminish this number as details get flushed out."
WDC
Mar 26, 2024 | 09:56 EDT
Notable gainers among liquid option names this morning include Seagate (STX) $96.53 +8.33, McCormick (MKC) $75.66 +5.72, Constellation Energy (CEG) $198.70 +11.44, Tesla (TSLA) $182.50 +9.87, and Western Digital (WDC) $68.30 +3.31.
MU
Mar 26, 2024 | 08:56 EDT
Monday's total option volume of 35.0 million contracts resulted in net open interest growth of 5.07 million calls and 4.24 million puts. Tesla (TSLA), NVIDIA (NVDA), Micron (MU) and Advanced Micro Devices (AMD) saw the greatest growth. Top five new positions opened include 48k Warner Bros. Discovery (WBD) 5/3 weekly 7 puts, 43k DoorDash (DASH) Jun-24 120 calls, 43k Bumble (BMBL) May-24 9 puts, 29k Tesla (TSLA) 3/28 weekly 170 puts and 25k Tesla (TSLA) 4/26 weekly 150 puts.