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Fly News Breaks for February 27, 2019
WDC, MU
Feb 27, 2019 | 06:31 EDT
Mizuho analyst Vijay Rakesh says that while DRAM "remains soft" versus NAND with "weak" data center and mobile, there could be some "modest" DRAM improvement as NAND pricing "appears to be stabilizing" into Q2. The analyst's supply chain checks indicate a near-term DRAM supply issue at one of the leading Korean manufacturers is creating a supply constraint in the first half of 2019. While data center and server demand remains slow, the near-term supply issues at a major competitor has resulted in Micron gaining some data center hyperscale orders, which should be a positive for the company, contends Rakesh. Further, he believes that continuing "strong" cloud profitability with cloud capex reverting to normal levels could position for a second half of 2019 memory rebound with new processor ramps. The analyst reiterates a Buy rating on Micron Technology (MU) and Neutral rating on Western Digital (WDC).
News For MU;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.