Despite the rise in tablets, PC demand is on the uptick and that’s good news for chipmakers like SanDisk (SNDK). The company is one of the top five tech companies far outperforming the overall stock market. Today’s screen Of The Day is Bolting RS Lines, a list of top-rated stocks whose Relative Strength line hit a new high during the prior session and that have an average daily trading volume of at least 400,000 shares. The RS line measures a
Flash storage chipmaker SanDisk on Monday announced a deal to buy Fusion-io on the cheap for $1.1 billion. Fusion-io (FIO), a developer of flash-based hardware and software for enterprise data centers, will provide SanDisk (SNDK) with a blue-chip customer base, enterprise vertical integration and a road map to higher gross profit margins, Sterne Agee analyst Vijay Rakesh said in a research note. SanDisk agreed to pay $11.25 a share in cash for
Flash storage chipmaker SanDisk (SNDK) on Monday announced an agreement to acquire Fusion-io (FIO), a developer of flash-based hardware and software for enterprise data centers, for $1.1 billion. SanDisk agreed to pay $11.25 a share in cash for Fusion-io, a 21% premium to Fusion-io’s closing price on Friday. In late-morning trading Monday, Fusion-io stock was up 23%, near 11.40, reflecting investor hopes for a possible competing bid. Fusion-io