MU That must be UBS as in Unadulteraded-Bull-Shit analyst. Apparently he sees Dram prices starting to rollover in 2 quarters. I don't see any way that will happen. Unlike a few years ago when there were about 7 major suppliers of Dram chips, there are only 3 now; MU, Samsung and SK Hynix. All 3 of them have said they plan only moderate increases in supply which probably won't even keep up with growing demand. China is at least 2 years out and it could be much farther if they can't steal the technology.

It reminds me of yesterday when the market tanked on news of proposed tariff increases by China in their chess match with the US. The market then came back to its senses. UBS has likewise created a good buy point for investors in MU, imo.

LEN Great report and a very positive outlook too. Notice that new orders exceeded deiveries by 10% even in a slower period seasonally. From the PR:

Stuart Miller, Chief Executive Officer of Lennar, said, "As we report our first combined quarterly results with the CalAtlantic strategic acquisition now completed, we remain enthusiastic about both our current results as well as our future projections under the Lennar platform. In the first quarter of 2018, pro forma new orders and deliveries were 10,910 and 9,994, respectively, which exceeded the expectations for both companies. The integration is progressing exactly on target."

Mr. Miller continued, "Our first quarter results begin to display the true power of this combination. Although these results do not include 2 ½ months of CalAtlantic's operations, all company metrics have performed as expected or better and we have grown more confident in our ability to exceed our $100 million synergy target in 2018 and we are on track to meet our $365 million synergy target in 2019."

"We continue to remain positive on the outlook of the housing industry in general. Although interest rates have ticked up, unemployment remains low, the labor participation rate has been increasing, and wages have been moving modestly higher, though we think, even higher than the data the government captures. Feedback from our new home consultants indicates that our customer base feels confident in both job security and compensation levels in spite of the political noise that abounds."

The market really shouldn't be that surprised. China previously said they would match proposed US tariffs in a measured response. Important to note that these are proposals only subject to a 60 day review while negotiations continue. Meanwhile the market will open with hundreds of billions in lost value because of $50 billion in proposed new tariffs. typical market reaction of "sell first and ask questions later".

I may be in a buying mood today.

Those tariffs by China are only proposals subject to a 60 day review period to give time for China and the US time to work this out. Typical knee-jerk market reaction of "sell first and ask questions later".

You're just full of fake news again aren't you....

You're wrong Arizona. If the NYTimes said that special appropriations for war don't add to the deficit then he is wrong too as in Fake news.
Setting up special appropriations for war or hurricanes or any other emergency does add to the deficit. What it does is allow government to spend more than the budget allows but everything spent for that does add to the deficit. It is not swept under the rug in some mysterious fashion.

Obama did the right thing in putting the cost of wars he was fighting in the budget. He should have since he knew that would be an expense as we were already fighting them. In Bush's case, no one knew that we would be attacked on 9-11 and would need to counterattack for that. Once we had a war going then Bush should have put it in the budget which is what Obama was talking about.

How about a chart that is more current to include the debt that Obama ran up while he was in office. Bush and Cheney were pikers compared to the growth in debt we saw under Obama.

Fuzzy math?

The seficit in 2008, the year before Obama took office was $459 billion. The budget defit during his last year in office was $585 billion. How was that a dramatic decrease?

Overall, Obama added about $9 trillion to the debt including $1.4 trillion in 2016 alone (when the country was well out of the recession). Is that a spending record to be proud of??

Yep, I must have been either bored or trolling to bother responding to a socialist.
How is Venezuela working out for you anyway?

No thanks, I have a lot of better things to do with my time. But go ahead and have at it yourself.
"Garbage in, garbage out"

Whoever wrote that article needs a math lesson. He said:

3. Who wins in trade wars?
No one, if history is any guide. When President George W. Bush raised steel tariffs in 2002, U.S. gross domestic product declined by $30.4 million, according to the U.S. International Trade Commission. The U.S. lost about 200,000 jobs, about 13,000 of which were in raw steel-making, by one estimate. A report by the pro-free trade Peterson Institute for International Economics estimated that Bush’s tariffs cost about $400,000 for every steel-industry job saved. The World Trade Organization also ruled that the Bush tariffs were illegal.

The author says the tariff cost the US economy about $30 million which works out to about 12c per american citizen. Then he goes on to say that it cost 200,000 jobs. Then he said it cost about $400,000 for every job it saved. Which is it??? Did it cost jobs or save jobs???

Reminds me of that old saying: Statistics lie and liars love statistics.

Even a poor businessman can see that we are on the short end of any fair trade with China. Here's another example: The US can ship wheat from the northwestern states to China for about 40% less than the market price of wheat in China today. So China slaps a 65% tariff on US wheat (and rice too btw). Bingo, our price advantage disappears while no one even talks about that. We talk about putting a 10-25% tariff on aluminum and steel imports to save our own industry after China dumps more and more here. Yet we are accused of starting a trade war.

Stock market is reacting in typical knee jerk reaction with the news of the Chinese tariffs. Sell first and ask questions later. I think it will bounce back as the market adjusts to the news. Also, earnings season starts next week which should be strong.

Ironic that the board socialist is complaining about government intervention in free world trade. Of course, anything that was Trump's idea is bad so why not.

Let's take a closer look at this. Trump is proposing tariffs on $60 billion in Chinese goods. China has responded with a tariff on $3 billion in US goods. That's a ratio of 20 to 1. That $3 billion in Chinese tariffs is on agricultural products and scrap aluminum. Apparently, China doesn't buy things like manufactured goods from us anymore. Is China really going to starve its common people by making food so expensive they can't afford to eat anymore? I would hope not. What will probably happen is that they will buy those products from other countries who in turn will turn around and buy them from us.

What Trump is after is not tariffs on other countries like China but rather to force them to open their trade doors with us and make it fair trade in both directions. Is it fair that US cars imported to China are subject to a 25% tariff when we don't do that (We still don't import chinese cars now but that will change over time if nothing is done). Is it fair that a technology company who wants to sell products in China has to build a plant there and give majority control to the Chinese while they steal the trade secrets? No and no.

We finally have a business man in the White house who recognizes that the USA is getting screwed on business dealings with some other countries, mainly China. And he is doing something about it.

MU sure wish I would have sold more at $60 plus of course, but would you really have shorted such a stock with a PE of 5 and growing profits? At $50 now, it is down to a PE of only 4.5 at current run rate.

Dram chip prices (over 70% of sales) are holding strong. The DXI index had another big emd of month jump in prices and that index is back to being very close to all thime highs again.

Tech stocks are really taking a beating today and have been for awhile now. MU has been riding the tide down with them. The fundamentals remain strong however. Current $50 price should have support as that was its old high in December last year. If not, it should see more support in $48 area (50 day DMA).

Then again, if the market keeps tanking like today, all bets are off.

CAI up big as well. It could just be that talk of trade wars has quieted down.

Ugly markets... Wade, You could well be right. Right now the market seems very concerned about negative consequences from a trade war- primarily with China. China is talking about putting tariffs on US agricultural products. But, what are they going to do?? Let their common people starve because they can't afford to eat?

There is something wrong when China puts a 25% tariff on US made cars but we only put a 2.5% tariff on theirs (even with that, I am not seeing Chinese cars around here).

I think the tariff concerns will blow over eventually but you're right, it could be at the forefront for the next couple of months or so.

With MU, I feel comfortable with a stock trading at a PE of 5 or so that is also making huge positive cashflows. I'll ride it out. I expect $70 is coming although it may take awhile with this market.

MU beat on earnings and revenue: Micron Technology (NASDAQ:MU): Q2 EPS of $2.82 beats by $0.08. Revenue of $7.35B (+58.1% Y/Y) beats by $70M.

They also raised guidance for the next quarter too:

Upside Q3 guidance has revenue from $7.2B to $7.6B (consensus: $7.29B) and EPS from $2.76 to $2.90 (consensus: $2.66). Gross margin expected from 57% to 60%, operating expenses from $700M to $750M, and operating income from $3.6B to $3.8B.

All good but AH, MU down another $2. Looks like the market is in a very ugly mood right now.

Congrats on NKTR. A 500% increase in 6 months is amazing. Please share any future NKTR type stocks you come across.

CAI I don't see issuing a "Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Stock" as good news. It's still dilutive to stockholders interests but now the company pays interest on it and the common stockholders are supposedly subordinate to it.

No details on interest rate, conversion price, or amount either. Not even a range. I don't like it but the market doesn't seem to care based on its non-reaction today.

MU Wade, Unless it makes another big jump ahead of earnings I expect I'll hold into them. I expect a strong report and I'll watch the afterhours action and may sell some into strength then too. But I'll only sell a portion if I do. I am not a ST trader like you are.

Speaking of returns on investments, Google is one of the largest corporate contibutors to politics. But they typically give about 3 or 4 times more to Democrats than Republicans. In the last 2016 election cycle, they gave $5.7million to Democrats and only $2 million to Republicans.

The moral of this story is that corporations are throwing away money given to Democrats who only want to increase taxes. They should give it all to the Republicans.

MU Baird joined Nomura with a new $100 price target on MU.

Baird maintains an Outperform rating and raises its Micron (NASDAQ:MU) price target from $60 to $100, a 70% upside to yesterday’s close.

Analyst Tristan Gerra cites stronger-than-expected memory trends with DRAM contract pricing experiencing a “significant increase” in 1H18. NAND flash price reductions expected more muted in the first half than previously expected.

The Street also put out an article as to the reasons why chips are expected to be much less cyclical going forward:

https://realmoney.thestreet.com/articles/03/14/2018/markets-are-finally-appreciating-how-microns-largest-business-has-changed

MU earnings are due out on Thursday. As of now, anyway, I expect to hold my shares into the ER. I expect a beat with more strong guidance.

MU thanks Wade, you and R59 nailed it on its first run to near 50 a few months ago. We're all getting our turn. More upgrades too as R59 noted:

Micron Price Targets Keep Going, to $66 at Mizuho -- Barron's Blog
March 12, 2018
06:18 PM ETDow Jones Newswires
R

The positive reviews just don't stop for Micron Technology ( MU), maker of DRAM and NAND flash memory chips, which earlier today got two price target increases, from Instinet's Romit Shah, up to $100 from $55, and from Evercore ISI'sC J Muse, to $80 from $60, and which now gets a third price target increase, from Mizuho's Vijay Rakesh.

Rakesh, reiterating a Buy rating, raises his price target to $66 from $55, writes that estimates are too low for Micron given his "checks" while traveling through Asia-Pacific recently, talking to "key DRAM-NAND test and packaging OEMs" are telling him there is "continued DRAM/ NAND demand and price momentum into the JunQ."

We met some of the major memory test and packaging OEMs which cited continued strong DRAM/NAND momentum, test capacity continues to increase 20%+ into 2018 pointing to strong capacity requirements from memory OEMs and NAND ramping well with 64-L NAND going from 20% currently to 50% by YE 2018 for WDC and Toshiba.

According to Rakesh, his sources say demand is being helped by "server and GPU demand" that "continues to drive DRAM pricing up in MarQ and potentially into the JunQ," which is offsetting some "softness" in sales of Apple's ( AAPL) iPhone X and in the China market for electronics.

MU Sold 20% at 60.34 avg. but think it is still heading higher. You still have yours bbotcs?

MU R59, Yep I've been watching those Dram prices. Wish they would firm up again but they remain at very high levels. I believe spot prices are still above contract prices. Most of MU's sales are by contract. As the contracts get renewed they get adjusted up. Looks like the Nomura report believes Dram prices will rise again in Q2.

From SA:

Nomura raises its Micron (NASDAQ:MU) price target from $55 to $100, a new Street high and an 83% upside to Friday’s close.

Firm says Micron shares are on the cusp of another breakout.

Potential catalysts: DRAM pricing resuming its climb in Q2, dividend and share buyback announcements in May, NAND margin expansion, and increased M&A discussion.

More action: Evercore ISI raises its Micron target from $60 to $80, a 47% upside.

MU Thanks R59. That is quite a jump in target price from $55 to $100! Nomura is a rop notch securities firm too. I may have to nudge up my target price above $60.

PCMI Hweb, I think you're right on. Many of the people chasing PCMI now are momentum players who will likely move on quickly. Many of them have even shorter holding periods than Wade does.

SVVC I was noticing the same on this one earlier today. Didn't find any new news but they sure sniffed out some winners including ROKU. Still holding for now with its huge discount to NAV. I wish someone would buy them out.

MEET They are changing their focus from ad-based revs to subscriber based revs as there is heavy competition in advertising. I don't trust their new model will work for them.

MEET I agree after just reading the transcript for the CC. They also expect Q1 ad revs to be 40% lower than Q4 and remain around that level for the rest of the year. Sold my remaining shares.

MEET Crazy day: PCMI has a big miss and zooms higher while MEET beats on both revs and earnings (12c vs 11c est) and drops 20%. They did write down a big chunk of Goodwill and some wishy washy guidance so I'm sure that's why.

PCMI Didn't expect to see this one in the upper 11s when I made my last post. Sold all to the momentum players at 11.65-11.80.

PCMI Excellent points, nelson. I also wonder how so many shares were sold on insider info since management never said anything and the analysts also had no idea that the big miss was coming either. A ton of shares were bought by people who read and/or post on this board alone. The sellers were happy to oblge us and many others. I don't recall one post saying this stock was overpriced in the last 3 months.

Great outlook for the current year and the first two months of the current quarter are very strong to kick it off. I'm holding for the turnaround.

From the CC:

Frank Khulusi

Thanks, Brandon. I believe PCM is very well-positioned for the future. We expect 2018 to be a record year in sales, gross profit and adjusted EPS, with the major headwinds that impacted our 2017 top line growth behind us and as we expect to begin to reap the benefits of our 2017 investments in security, cloud, hybrid data center and managed services.

PCMI Decent volume too. Would be nice if the people buying were doing it because they got a peek at earnings to be announced today after the close.

Everybody.s talking about a trade war but the fact is that every country has tariffs now. Our tariffs average 3% while most countries are more like 10-20%.

I think this will blow over with time and any effect on TRTN will be negligible.

TRTN Also added some shares yesterday. Analysts keep raising estimates while the SP keeps falling. This cannot continue forever. I also think trade war concerns which have been in the headlines will fade away over time. Most of the posturing is more noise than anything.

MU I expect another earnings beat despite them raising guidance recently. Their outlook should also be favorable.
Whether I hold into earnings depends on its price action going into it. MU has both shot up on an earnings beat and sold off too. Never an easy call with MU.

MU Woohoo, broke through the $50 barrier to multiyear high. Don't see any specific new news to account for the strength today but I'll take it. My target remains 60.

MU 48.77 has held firm in this week's market meltdown and is even up over $1 today. Ironically, Dram chip prices have weakened a bit recently according to dramexchange.com. I think it is more seasonal than anything and Dram chip prices remain very high historically. Market may be anticipating a strong ER and guidance which is set for March 22. I remain bullish although I did lighten up a little as it had become an oversized position for me.

DAL Personally, I believe that corporations should steer clear of political and social causes. DAL should have handled this privately and quietly. Now they have alienated millions of NRA members along with millions more who support their positions.

Losing a $40 million tax break (roughly 1% of NI) is chump change compared to what this could cost them from lost business and profits going forward.