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

Tech Premarket: Micron, Facebook, Sirius

NEW YORK (TheStreet) - Micron Technology (MU - Get Report) shares are surging 10.45% to $24 after the semiconductor specialist reported better-than-expected first-quarter results on Tuesday. The Boise-based firm was also the most active pre-market Nasdaq stock on share volume of 2,654,710.

Credit Suisse raised its Micron price target to $30 from $25 in a note released early on Wednesday. "Upside for F1Q/F2Q is being driven by higher than expected DRAM Sales and improved profitability," wrote Credit Suisse analyst John Pitzer.

Sterne Agee also raised its Micron price target to $28 from $26. "MU reported a strong NovQ and a good FebQ outlook with DRAM now stable in the weakest part of the year," wrote Sterne Agee analyst Vijay Rakesh, in a note. "We believe MU is becoming less about PC-Smartphone demand and more about stable DRAM-Memory pricing trends and stable earnings power."

The analyst firm also tweaked its fiscal second- quarter revenue and earnings estimates for Micron to $4.07 billion and 66 cents a share from $4.09 billion and 78 cents a share to account for higher taxes.

Must Read: CES 2014: Live Blog

Facebook (FB - Get Report) was another active pre-market stock, slipping 0.73% to $57.70 on share volume of 636,489. Microsoft (MSFT - Get Report) was off 0.58% to $36.20 on share volume of 560,333. On Tuesday Ford (F) CEO Alan Mulally put to rest rumors that he will leave the automaker to run Microsoft.

Sirius XM SIRI shares are flat at $8.67 while BlackBerry (BBRY) shares are up 2.59% to $8.50.

--Written by James Rogers in New York.

>Contact by Email.

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
FB $117.43 0.00%
MU $10.36 0.00%
MSFT $49.78 0.00%
AAPL $95.18 0.00%
GOOG $692.36 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs