Micron Technology Inc. (NASDAQ: MU), a global manufacturer and marketer of semiconductor devices, is down sharply in mid-day trading today, extending its losses from the previous trading session. MU had fallen nearly 7% on Friday after the company reported disappointing first-quarter results.
MU reported a net loss of $275 million, or $0.27 per share for the first quarter ended November 29, 2012, compared to a net loss of $187 million, or $0.19 per share reported for the same period in the previous year. Revenue for the quarter dropped 12% to $1.83 billion.
MU is currently trading 1.58% lower at $6.22 on volume of 2.78 million, which is well below the daily average volume of 25.13 million. MU has support at around $6.20.
Apple Inc. (NASDAQ: AAPL), the Cupertino, California-based maker of iPhones and iPads, is marginally higher in mid-day trading today. At last check, AAPL was trading 0.04% higher at $519.54 on volume of 3.33 million. The stock has gained nearly 2% in the last five trading sessions.
AAPL made bit of a recovery last week after falling sharply in the prior two weeks. However, the stock is still trading well below its 50-day and 200-day moving averages. AAPL rebounded last Monday after the company announced that iPhone 5 first weekend sales in China exceeded two million. However, the stock failed to extend its rally, gaining just 0.1% in the next four trading sessions.
WallStreetReport.netissues momentum alerts on stocks that canprovide gains to day traders. WallStreetReport.netprovides members with timely information and exclusive alerts on cheap and under-valued stocks in the United States with the potential to deliver gains of 100% - 200% or more. WallStreetReport.netmonitors and scans the markets for stock related signals as well as any external factors that might bring trading opportunities. Through a vast network of IR professionalsWallStreetReport.netis often in the know of several large investor awareness campaigns being deployed.
Timing is everything when trading Penny Stocks. Gain an Edge by joining the WallStreetReport.net newsletter and receiving alerts from a Pro-Active team of researchers. Wall Street Report believes traders should have a chance at successfully tradingPenny Stocksand invites traders and investors to be part of the Free VIP membership.
Simply sign up for free and start receiving exclusive alerts.
Disclosure:WallStreetReport.netis not a registered investment advisor and nothing contained in any materials should be construed as a recommendation to buy or sell securities. Investors should always conduct their own due diligence with any potential investment. Please visit WallStreetreport.Netwebsite, for complete risks and disclosures.