On Thursday, Micron Technology, Inc. (NASDAQ:MU)’s shares inclined 1.26% to $14.48.
Micron Technology, Inc., (MU) declared results of operations for its first quarter of fiscal 2016, which ended December 3, 2015. Revenues for the first quarter of fiscal 2016 were $3.35 billion and were 7 percent lower contrast to the fourth quarter of fiscal 2015 and 27 percent lower contrast to the first quarter of fiscal 2015. Cash flows from operations were $1.12 billion for the first quarter of fiscal 2016.
GAAP Income and Per Share Data – On a GAAP(1) basis, net income attributable to Micron shareholders for the first quarter of fiscal 2016 was $206 million, or $0.19 per diluted share, contrast to net income of $471 million, or $0.42 per diluted share, for the fourth quarter of fiscal 2015.
Non-GAAP Income and Per Share Data – On a non-GAAP(2) basis, net income attributable to Micron shareholders for the first quarter of fiscal 2016 was $249 million, or $0.24 per diluted share, contrast to net income of $399 million, or $0.37 per diluted share, for the fourth quarter of fiscal 2015. For a reconciliation of GAAP to non-GAAP results, see the accompanying financial tables and footnotes.
Revenues for the first quarter of fiscal 2016 were lower contrast to the fourth quarter of fiscal 2015 primarily due to a 13 percent decline in DRAM average selling prices. Non-Volatile trade revenues for the first quarter of fiscal 2016 declined 2 percent contrast to the fourth quarter primarily as a result of a 7 percent decline in average selling prices partially offset by an enhance in sales volume. The company’s overall merged gross margin of 25 percent for the first quarter of fiscal 2016 was 2 percent lower contrast to the fourth quarter of fiscal 2015 primarily due to lower average selling prices partially offset by manufacturing cost reductions for DRAM and Non-Volatile products.
“While conditions in some market segments are challenging, we believe long-term industry fundamentals are healthy, and we remain focused on the deployment of our advanced DRAM and 3D NAND technologies and products,” said Micron CEO Mark Durcan.
Micron Technology, Inc. provides semiconductor systems worldwide. It operates in four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. The company offers DDR4 and DDR3 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; mobile low-power DRAM products for mobile phones, tablets, embedded, computers, and other mobile consumer device applications; DDR2 DRAM, DDR DRAM, GDDR5 DRAM, SDRAM, reduced latency DRAM, and pseudo-static DRAM products for use in networking devices, servers, consumer electronics, communications equipment, computer peripherals, automotive and industrial applications, and computer memory upgrades; and HMC semiconductor memory devices for use in networking and computing applications.
Huntington Bancshares Incorporated (NASDAQ:HBAN)’s shares gained 0.54% to $11.21. With its recent share price change, HBAN market value has reached roughly $8.93 billion. The company has a Profit Margin (ttm) of positive 31.10%. The operating profit margin is 89.60%. The stock’s performance in 1 month is -3.26% and its volatility for the same period is 2.06%.
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services.
GameStop Corp. (NYSE:GME)‘s shares dipped -1.32% to $28.37.
The holidays may be coming to an end, but the discounts will continue. GameStop, a family of specialty retail brands that make the most popular technologies affordable and simple, declared recently that from December 26 through January 1 it will be discounting the hottest titles, collectibles and more to ring in the New Year.
Gift cards continue to be one of the most desired stocking-stuffer gifts each holiday season, and now is the perfect time to gather up all of those gift cards and bring them to GameStop. Whether you are using a GameStop gift card toward the purchase of any pre-owned hardware, software, or accessory during the buy 2, get 1 free sale started on December 24, 2015 or exchanging a less desired gift card from another retailer, GameStop can accommodate.
GameStop Corp. operates as a multichannel video game retailer. It sells new and pre-owned video game hardware; physical and digital video game software; pre-owned and value video game products; video game accessories, such as controllers, gaming headsets, memory cards, and other add-ons for use with video game hardware and software; and digital products, counting downloadable content, network points cards, prepaid digital and online timecards, and digitally downloadable software.
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