Tuesday, October 20, 2009
Sandisk blows past estimates
Remember back in July when Sandisk beat earnings?
The hedge fund boys hit bids in the after-hours during the conference call on the forward guidance.
SNDK was just using Apple's tricks. But they hit the stock. It was $16.21 the next day. Today it's over 24 in the after hours.
Earnings came in at over .75 versus .26. And the stock is just under 24.
You could do your own research and see that pricing was firming. But Wall Street wasn't on board.
Finally Mother Merrill upgraded this name at 22, after it ran from 6.
And yesterday Goldman had this to say about Sandisk:
SNDK (Buy): Strong ASP trends bode well for stock
We expect SanDisk to report 3Q2009 revenues ahead of the company’s guidance, driven by strong ASPs and better utilization. 4Q2009 guidance should be above the Street on favorable pricing and seasonality.
And that's the difference between then and now.
Now the boys are all in. Then they weren't.
GS main 1019
Posted by Palmoni at 6:04 PM