Diamonds and Dogs
The chips keep rolling. DRAM memory chip maker, Micron (MU) is up 8% to a new high on strong volume thanks to better than expected earnings. Micron not only beat expectations, but also raised guidance for the current quarter. The analysts are all raising earnings and sales projections with new price targets of $50, $52, $64, and $76 a share.
Nike (NKE) not flying high today. The shoe and apparel maker is down 4% not far from a 52 week low on its weakest quarterly sales growth in nearly seven years. At least nine brokerages cut their price targets on the stock after Nike warned of a further fall in revenue in its biggest market following a 3 percent drop in the first quarter that was its first outright decline in 2-1/2 years.