An earnings report like the Q2 from SNDK is what will finally dig CPST out of the channel. Granted the SNDK numbers are a bit out-sized (large cap) as compared to CPST, but today's action is a good example of what "exceeding the analyst expectations on all counts" can do.
12:37 PM EDT, 07/20/2012 (MidnightTrader) -- SanDisk Corp. (SNDK:$38.70,00$3.62,0010.32%) earlier hit a day's high of $40.45, currently up 13.4% at $39.91 following yesterday's Q2 results. The company beat analyst expectations on all counts. SNDK brought in $0.21 per share in earnings, over estimates of $0.19. It also topped revenue predictions, with sales of $1.03 billion over $1.02 billion
Still hanging tight on my long CPST and will take a penny or two upward move anytime--sideways is also okay with me as long as we continue to see orders; speaking of which...it would be nice to see another large order floated out next week to start shaking those shorts out.
Been in and out of SNDK but holding long since the low $30ish range.
