"TAP não sobrevive se se mantiver pública", garante Pinto Luz

[Elias]

A Sandisk está hoje a cair mais de 9%


SanDisk slips on disappointing outlook
Chipmaker tops estimates but analyst calls forecast `frothy'

SAN FRANCISCO (MarketWatch) - Shares of SanDisk Corp. declined Friday a day after the memory-chip maker issued a weaker-than-expected forecast.

SanDisk /quotes/comstock/15*!sndk/quotes/nls/sndk (SNDK 26.02, -2.76, -9.59%) shares were down 7% in early trading.

The Milpitas, Calif., company posted results that were widely considered strong.

J.P. Morgan analyst Paul Coster upgraded SanDisk to neutral from underweight, saying in a note that "we expect SanDisk to perform in line with the mean of our coverage in the next 6 to 12 months. With surging and sustainable profitability through 2010, SanDisk no longer looks overvalued."

But Wedbush analyst Betsy Van Hees wrote that while the company beat fourth-quarter expectations, it reported "frothy expectations for better-than-seasonal first-quarter top-line" guidance.

"The first-quarter guidance for [the] top line to be seasonally down appeared to disappoint investors who were looking for better-than-seasonal guidance," Van Hees wrote.

Van Hees said the company could continue to face pricing pressures in certain markets.

Chip makers have been reeling from a glut in supply of memory products, such as NAND flash processors found in devices like digital cameras and mp3 music players. The oversupply led to declining average selling prices and weaker sales.

Late Thursday, SanDisk reported that it swung to fourth-quarter profit of $339.5 million, or $1.45 a share, from a loss of $1.76 billion, or $7.78 a share, in the year-earlier quarter.

Adjusted profit was $1.18 a share.

Revenue increased 44% to $1.24 billion from $863.9 million.

Analysts had expected SanDisk to hand in earnings of 69 cents a share on revenue of $1.16 billion, according to a FactSet Research survey

Fonte: marketwatch.com

[tghmc]

SanDisk swings to big loss, hit by charges
But chip maker posts better-than-expected revenue
By Benjamin Pimentel, MarketWatch
Last update: 5:31 p.m. EST Feb. 2, 2009Comments: 5SAN FRANCISCO (MarketWatch) -- SanDisk Corp. on Monday posted a huge fourth-quarter net loss, weighed down by nearly $2 billion in one-time charges, weak consumer spending and pricing pressures in the memory chip market.
The Milpitas, Calif.-based chip maker (SNDK:SanDisk Corporation
News , chart , profile , more
Last: 11.28-0.15-1.31%

4:00pm 02/02/2009

Delayed quote dataAdd to portfolio
Analyst
Create alert Insider
Discuss
Financials
Sponsored by:
SNDK 11.28, -0.15, -1.3%) reported a fourth-quarter net loss of $1.86 billion, or $8.25 a share, compared with a net profit of $106 million, or 45 cents a share, for the year-earlier period. Revenue was $863.9 million, down from $1.25 billion last year.
The company's results included $1.91 billion in one-time expenses, including $1.02 billion for a combined pre-tax goodwill and intangible asset impairment charge. Adjusted net loss was $1.65 a share.
Analysts had expected the chip maker to report a net loss of 60 cents a share, on revenue of $766.7 million, according to a consensus estimate by Thomson Reuters.
Despite the huge loss, SanDisk's shares rose more than 4% in late trading on better-than-expected revenue. But the stock later fell on the company's weaker-than-expected sales outlook for the current quarter.
In a prepared statement, SanDisk CEO Eli Harari said the company faced "a very difficult pricing environment, macroeconomic turmoil and the impact on consumer purchasing."
"We are very disappointed with our fourth-quarter bottom line results, which included significant asset impairment and inventory related charges," Harari said.
He said the company is moving to "curtail our captive output, conserve cash, and reduce capital and operating expenditures."
But Harari also noted that the company believes the "drastic industry-wide capital expenditure cuts announced for 2009 will contribute to a better balance between supply and demand and an improved pricing environment in our markets later in 2009 and into 2010."
Chip makers have been hurt by a glut in memory products, such as NAND Flash microprocessors, which has led to a steady decline in average selling prices.
In a call with analysts, Harari said, "The Flash industry is at a crossroads. Three consecutive years of price reductions exceeding cost reductions have squeezed profitability out of this industry, even for the most competitive suppliers and this has been exacerbated by the global economic recession."
For the current quarter, the company said it expects revenue in the range of $475 million to $575 million. Analysts had expected the company to post sales of $631.7 million, according to a consensus survey by Thomson Reuters.

Benjamin Pimentel is a MarketWatch reporter based in San Francisco.

After Hours: 9.70 -1.58 (-14.01%) - Feb 2, 6:02PM EST

[AC Investor Blog]

SNDK shares surged more than 9% to $17.82 after rumours saying that SanDisk is a possible target for Seagate. Here is one of the sources : http://www.engadget.com/2008/06/24/anal ... /#comments " Seagate has already made its intentions about jumping into the SSD game pretty clear, and one analyst now says he sees two clear options at the company's disposal if it wants to seriously make a go of it, each of which involve Seagate shelling out a good chunk of cash. According to Lazard's Daniel Amir, one option would be to buy out Intel's 49% stake in the IM Flash Technologies joint venture it has with Micron, which would reportedly cost anywhere from $1 to $2 billion (not to mention put Seagate on the outs with Intel). More likely than that, Amir says, would be an acquisition of or partnership with SanDisk, which he says would be an ideal fit given Seagate's expertise on the enterprise side and SanDisk's retail knowhow. Amir doesn't put a price tag on that option though, but you can be sure it wouldn't be cheap." Things to focus on technical chart above is the spike in volume in late July. It marked the end of the slide and beginning of bottoming. Although both 50 day and 200 day moving averages are falling, the rising KD and MACD show the stock is now in recovery mode. In addition the stock is also back above 20 day moving average showing positive momentum. Let's keep an eye on it.