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Micron (MU) -2.7% after S&P slashes its credit outlook to negative, and the company prices...

Micron (MU) -2.7% after S&P slashes its credit outlook to negative, and the company prices its $870M convertible note offering, which could be ammo for an Elpida bid. While the interest rates for the notes are low, they sport conversion prices below $10/share, which makes future dilution a strong possibility. Nonetheless, Baird considers Micron's recent selloff a buying opportunity, and predicts the chipmaker will return to profitability this summer.
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Comments (1)
  • drekon
    , contributor
    Comments (193) | Send Message
     
    "Recent pullback provides buying opportunity"...last time I saw that posted here from Baird it was AFFY at 13 (now 11.32). They are famous for loving stocks and getting run-over by pullbacks.
    13 Apr 2012, 08:54 AM Reply Like
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