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CNBC • 17 minutes ago The average implied move of an S&P 500 stock on earnings day has reached 7.4 percent, meaning a stock could move up or down by that much the day the company reports quarterly results. Investors better buckle up as this earnings season could send them for a wild ride, according to data compiled by Goldman Sachs. The average implied move of an S&P 500 stock on earnings day has reached 7.4 percent, meaning the shares could move up or down by that much the day the company reports quarterly results. MarketWatch • 48 minutes ago Shares of Micron Technology Inc.
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Dropped 4.1% in morning trade Monday, to pace its semiconductor peers, after analyst Joseph Moore at Morgan Stanley said he doesn't see a rebound 'at any point' in 2019 for the memory chip maker, especially for DRAM. Moore reiterated his equal weight rating and $33 stock price target, which was about 4.4% below current levels. Management confidence in a second-half recovery in DRAM has helped boost the stock, but Joseph would argue that it is a bad thing, and by contrast, the negative view on NAND by all producers would be a positive long term indicator. The stock had run up 24% from its 16-month closing low of $29.02 on Dec. 24 through Friday. Despite the recent bounce, Micron shares have still tumbled 18.7% over the past three months, while the PHLX Semiconductor Index has shed 4.8% and the S&P 500 has declined 6.7%.