SanDisk Falls After Merrill Cuts Estimates

By TSC Staff ,

SanDisk (SNDK) was down 2.6% in late morning after Merrill Lynch widened its 2001 loss estimate to 25 cents per share from 19 cents and lowered its 2002 earnings forecast to 10 cents per share from 15 cents. Merrill said the memory chip maker is being hurt by slowing demand, high inventories and pricing pressures.

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