Tech Stocks Reports! Micron Technology, Inc. (MU), Facebook Inc (FB)

Shares of Micron Technology, Inc. (NASDAQ:MU) ended Tuesday session in green amid volatile trading. The shares closed up +0.48 points or 2.78% at $17.53 with 27.44 million shares getting traded. Post opening the session at $17.10, the shares hit an intraday low of $16.97 and an intraday high of $17.61 and the price vacillated in this range throughout the day. The company has a market cap of $18.34 billion and the numbers of outstanding shares have been calculated to be 1.04 billion shares.

Micron Technology, Inc. (MU) announced results of operations for its fourth quarter and 2016 fiscal year, which ended September 1, 2016. Revenues for the fourth quarter of fiscal 2016 were $3.22 billion and were 11 percent higher compared to the third quarter of fiscal 2016 and 11 percent lower compared to the fourth quarter of fiscal 2015. Revenues for fiscal year 2016 were $12.40 billion and net loss attributable to Micron shareholders was $276 million, or ($0.27) per diluted share. On a non-GAAP basis, the fiscal year result was income of $0.06 per diluted share. Cash flows from operations were $3.17 billion for fiscal year 2016.

“We are seeing improving market conditions in terms of both slowing supply growth and improving demand across a number of key segments,” said Micron CEO Mark Durcan. “In addition, we continue to execute on our key initiatives related to the deployment of advanced technologies and products to advantage our customers.”

Shares of Facebook Inc (NASDAQ:FB) ended Tuesday session in red amid volatile trading. The shares closed down -0.99 points or -0.74% at $132.29 with 13.34 million shares getting traded. Post opening the session at $133.50, the shares hit an intraday low of $132.15 and an intraday high of $133.50 and the price vacillated in this range throughout the day. The company has a market cap of $383.37 billion and the numbers of outstanding shares have been calculated to be 2.32 billion shares.

Facebook Inc (FB) announced that its third quarter 2016 financial results will be released after market close on Wednesday, November 2, 2016.

Facebook will host a conference call to discuss its results at 2 p.m. PT / 5 p.m. ET the same day. The live webcast of the call can be accessed at the Facebook Investor Relations website at investor.fb.com, along with the company’s earnings press release, financial tables, and slide presentation.

Following the call, a replay will be available at the same website. A telephonic replay will be available for one week following the conference call at 404.537.3406 or 855.859.2056, Conference ID: 88580395.

 

 

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