Updated from March 24Micron ( MU) was paring its losses in Thursday's premarket session as investors digested some positive trends in an otherwise disappointing earnings report. The chipmaker was also the recipient of scattered analyst praise, with Goldman Sachs raising its full-year estimate to earnings of 17 cents a share from a loss of 14 cents a share, and CSFB upping its 2004 estimate to 11 cents a share from 5 cents a share. CSFB maintained a neutral investment rating, however. After the bell Wednesday, the Boise, Idaho, company reported a second-quarter loss of $28 million, or 4 cents a share, compared with a year-ago loss of $619 million, or $1.02 a share. Sales jumped 26% to $991 million. Analysts had been expecting a loss of 7 cents a share on sales of $1 billion in the most recent period. Micron, which draws most of its revenue from dynamic random access memory, never gives specific earnings guidance due to the volatility of the market. On a conference call to discuss its results, company executives said demand for chips used in notebook computers has picked up over the last three weeks, while demand for PC chips was strong since February. Executives were generally bullish on future orders, saying they planned to build inventory over the next few quarters to meet demand, which they said would likely exceed capacity and lead to higher prices on DRAM chips. The company said in its earnings release that average selling prices were firm in the second quarter. After the close, Micron shares traded off 48 cents, or 3%, to $15.33. They moved up in Thursday's premarket session to $15.50 after UBS raised its target on the shares to $21 from $18 and First Albany predicted the company would earn 4 cents a share this quarter, compared with the consensus estimate for a loss of 1 cent a share, as compiled by Thomson One Analytics.