MICRON TECHNOLOGY
Micro Technology will be a stock in focus for tomorrow session after reported earnings after market closed. Company said it swing to a fiscal second-quarter loss as costs swelled and flash memory prices deteriorated. Net loss for the quarter ended in February was $52 million, or 7 cents per share, compared with a profit of $193 million, or 27 cents per share, in the second quarter of 2006.Revenue rose to $1.43 billion from $1.23 billion. In addition the company said there were significant declines in average selling prices for many of the company's products. Looking at the chart above the stock had recently a good bounce since the lows of the year on March, however still trading below 50 dma ( near ) and 200 dma, but if the stock break above 50 dma , we will certainly see more buyers back to push the stock further up. Keep an yeye on MU.
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That's All. Have a nice evening !!!
AC
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