This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Micron, Oracle: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Micron Technology (MU - Get Report) were pummeled in extended trades on Thursday after the chip maker's revenue fell well short of Wall Street expectations for its fiscal third quarter.

The Boise, Idaho-based company said it earned $75 million, or 7 cents a share, in the three months ended June 2 on revenue of $2.14 billion. The average estimate of analysts polled by Thomson Reuters was for a profit of 16 cents a share on revenue of $2.36 billion.

The stock was last quoted at $7.38, down 12.5%, on volume of 3.7 million, according to Based on a regular session close at $8.43, the shares were up 1.8% so far in 2011.

Micron said its consolidated gross margin improved on a sequential basis to 22% in the latest quarter from 19% in the second quarter because of lower manufacturing costs. But sales of DRAM [dynamic random access memory] products were down 7% on a sequential basis because of declining volume, while sales of NAND Flash products fell 5% on a sequential basis because of weaker average selling prices.

Wall Street was bullish on Micron ahead of the report with 18 of the 26 analysts covering the stock at either strong buy (10) or buy (8), and the 12-month median price target sitting at $14.


Shares of Oracle (ORCL - Get Report) slumped in late trades after the database giant topped the average analysts' view for its fiscal fourth quarter but posted soft hardware sales.

The stock was down 4% to $31.20 on volume of nearly 9 million in extended action. Year-to-date, the shares were up 4% based on Thursday's regular session close at $32.46.

Despite the middling appreciation so far in 2011, Oracle still has plenty of fans on Wall Street with 34 of the 41 analysts covering the stock at strong buy (15) or buy (19), and the 12-month median price target at $38.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ETE $5.52 5.20%
MU $9.68 -2.20%
ORCL $34.83 -1.10%
WMB $13.30 3.50%
AAPL $93.65 -0.66%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs