On Wednesday, Shares of Micron Technology, Inc. (NASDAQ:MU), lost -2.93% to $15.90, hitting its lowest level.
Micron Technology’s shares are presently priced at 6.40x this year’s forecasted earnings, which makes them relatively inexpensive contrast to the industry’s 11.72x earnings multiple for the same period.
Micron Technology raised estimated fiscal 2016 capital expenditure to $5.3 billion to $5.8 billion, up from about $3.8 billion this year.
Micron is expected to guide fiscal 2016 capital expenditure (capex) to around $4.5 billion, so this is an upside surprise, a positive for Lam Research, Applied Materials, Teradyne, and Nanometrics in Barron’s view.
Micron pulled in its expectation for 3D NAND bit crossover, and now anticipates 3D NAND bits to exceed planar NAND by the end of calendar 2016 as compared to the preceding expectation of sometime in 2017. This is very positive for Applied Materials, Lam Research and Nanometrics.
Micron Technology, Inc., together with its auxiliaries, provides semiconductor solutions worldwide. The company manufactures and markets dynamic random access memory (DRAM), NAND flash, and NOR flash memory products; and packaging solutions and semiconductor systems.
Shares of Denbury Resources Inc. (NYSE:DNR), declined -7.39% to $3.76, during its last trading session, as some stocks within the energy sector take a hit from the decline in oil prices, which fell to a new six and a half year low, on the latest sign of a glut in crude supplies.
The U.S. benchmark crude price fell by $1.82 or 4.3 percent to settle at $40.80 per barrel Wednesday, its worst single-day percentage loss since early July and its lowest settlement since 2009. During the financial crisis, West Texas Intermediate crude settled at a low of $33.98 a barrel in February 2009.
Denbury Resources Inc. operates as an independent oil and natural gas company in the United States. The company primarily focuses on improved oil recovery utilizing carbon dioxide.
Finally, The Western Union Company (NYSE:WU), ended its last trade with -2.11% loss, and closed at $19.95.
The Western Union Foundation, reiterating its commitment to education, recently declared US$350,000 in total grants to Teach For All and four of its network partners in Mexico, Austria, India, and the United Kingdom.
These grants are part of Education for Better, a three-year commitment launched at the UN General Assembly in September 2012 by Western Union and the Western Union Foundation. The initiative comprises philanthropic grants from the Western Union Foundation, advocacy, products/services, volunteer and marketing support for secondary and vocational education around the world:
- A US$250,000 total grant to Teach For All’s efforts to enhance and accelerate the impact of programs that are cultivating the leadership necessary for change in their countries.
- A US$100,000 total grant to support Teach For All partners Enseña por México, Teach For Austria, Teach For India, and Teach First in the United Kingdom. The grant will advance education, counting secondary level education, through professional development and training of Teach For All program teachers.
The Western Union Company provides money movement and payment services worldwide. The company operates in three segments: Consumer-to-Consumer, Consumer-to-Business, and Business Solutions.
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