At last check, the tech-heavy NASDAQ Composite (INDEXNASDAQ:.IXIC) was down -0.75% to 2,943.36, floating in a range of 2,939.73 – 2,957.02. The decline was the most as compared to S&P 500 and Dow Jones. Both PC giants Apple Inc. (NASDAQ:AAPL) and Dell Inc. (NASDAQ:DELL) are facing fall. Dell Inc. CEO Michael Dell has been given the second-biggest amount of votes versus his re-election to the board among its 12 directors.
The company has submitted a filing with the U.S. Securities and Exchange Commission disclosing that over 38.4 million votes were cast in opposition to Dell during last week’s annual stockholders meeting in Round Rock.
SanDisk Corporation (NASDAQ:SNDK) shares surged 15% after the memory chip maker astonished the market with second-quarter results greater than estimates and an positive outlook as improving memory chip prices shore up margins.
SanDisk publicized that it anticipated revenue between $1.15 billion and $1.25 billion for the third quarter, and anticipates gross margins to steady in the 26 to 30 percent range before growing in the fourth quarter.
SanDisk shares jumped to $40.39 in early trade in their largest increase in three years. Its shares were trading up 14 percent at $40.14 on the NASDAQ on Friday.
Some other financial statistics shows that SNDK is ahead its 52 week low with 28.86% and its last month price volatility remained 3.76%. Its beta coefficient was 1.79 with a target price of $43.84. SNDK has insider ownership of 0.09% with its institutional ownership remained 88.86%. Company’s current year earnings per share reduced with 25.85% while the five year EPS growth rate was +33.30%.
Shares of Google Inc (NASDAQ:GOOG) jumped after Google has announced a free Google SMS service that will permit users from some African countries to send and receive text messages devoid of an Internet connection. Google SMS functions on any mobile phone in spite of if its model. The only condition is to have a Gmail account which is required to complete the registration procedure and to turn on the service.
Google Inc (NASDAQ:GOOG) surged +2.50% and trading at $607.99 with the total traded volume of 4.19 million shares. GOOG has earnings per share of $33.73 and its price to earnings ratio ended at 18.00.
Micron Technology, Inc. (NASDAQ:MU) is one of active stocks of Technology sector. MU is currently trading at $5.93 and moved up +2.51% and its total traded volume is 25.91 million shares. Its opening price was $5.98 and its shares are trading within the range of $5.87-$6.13.
MU has current ratio of 2.59 and its debt-to-equity ratio is 0.41. Its total outstanding shares are 1.09 billion while 990.32 million have been floated in the market.