Shares of Micron Technology and SanDisk Corp. jumped
Thursday morning to highlight an early tech sector rally on signs of a NAND
Flash memory chip shortage that's expected to give the chipmakers a lift.
Micron Technology, Inc. (NASDAQ:MU) shares jumped 7.92% to
$6.68. The shares of Micron Technology had its “outperform” rating restated by
equities researchers at Sanford C. Bernstein in a report issued this week and
they currently have a $9.50 target price on the stock. Additionally, analysts
predict that MU will post $-1.01 earnings per share for the current fiscal
year.
SanDisk Corporation (NASDAQ:SNDK) shares gained 8.28% to
$43.96. The company announced an affordable, easy-to-install SSD caching solution
that lets consumers significantly improve their desktop computer's performance.
The SanDisk ReadyCacheTM solution can boost a desktop computer's boot, shutdown
and application launch times, allowing consumers to enjoy a more responsive
computing experience, while utilising their existing hard drive's storage.
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To Buy SNDK Now? Get Free Trend Analysis Here
Skyworks Solutions Inc(NASDAQ:SWKS) stock increased 6% to
$30.95. Barclays analyst Blayne Curtis downgraded Skyworks Solutions from
Overweight to Equalweight with a price target of $28.00 (from $30.00). The 52
week trading range for the company is $13.72 - $31.00. The shares of the
company soared 60% in the last one year.
Hemispherx BioPharma, Inc (NYSEAMEX:HEB) stock gained 4.71%
to $0.890. The company announced that the Company will participate in the
Rodman & Renshaw 14th Annual Healthcare Conference, to be held on September
9 - 11, 2012 at the Waldorf Astoria, New York, NY. The 52 week trading range
for the company is $0.17 - $0.95. The shares of the company soared 190% in the
last one year.
Will HEB Continue To
Move Higher? Find Out Here
Keegan Resources Inc.(NYSEAMEX:KGN) shares climbed 1.25% to
$4.05 in the early hour. The company is pleased to provide an update on
activities currently being undertaken to maximize the value of the Company's
Essase Gold Project in Ghana, West Africa. Over the last several months the
Company has undertaken an extensive re-examination of the development options
for the Essase project with a goal of minimizing capital requirements while
improving project economics.
Gannett Co., Inc.(NYSE:GCI) stock gained 2.51% to $15.95
after the company announced that it has acquired Mobestream Media, maker of the
Key Ring consumer rewards mobile platform (Key Ring) available on all
smartphones. Terms of the acquisition were not disclosed.
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