Micron Earnings After Hours -- June 26, 2024

Locator: 48044TECH.

Link here. 

We'll follow Micron / MU after-market and see who got the "early release." LOL.

All three indices close in the green.

Immediately after the close: MU drops 10.09%; drops $14.36.

So, does someone know something or simply anxiety, taking profits? 

Yup, the numbers are out and CNBC will report as soon as they see the numbers.

Must be bad.

Wow.

Now, down 6.93%; down $9.86.

EPS of 53 cents are the expectation. And, again expectation, revenue of $6.67 billion, up 77.9% y/y.

Here are the numbers:

•  a beat on top and bottom lines.

Oh, give me a break.

• And guidance roughly in line.

Good. 

• revenue: 6.81B vs $6.67B
• EPS: 0.62 vs 51

"In-line" guidance is the "new miss" for tech stock. 

Oh, give me a break. This is awesome. 

As minutes go by, clawing back initial losses.

From CNBC:

Amazon: $2 trillion market cap for first time today. And growing. Fast.

Speaks volumes:

• BRK: 40% is AAPL;
• AAPL surges today -- one of the best days in weeks; and, yet,
• BRK ends up closing well in the red:

Summit: still a long way to go but the map is cool. Link here. The regulators okay'ed it but now it will end up in court.

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Gasoline Demand

Link here.

EIA weekly petroleum report: unremarkable.

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Back to the Bakken

Active rigs: 36.

WTI: $80.65.

Three new permits: #40875 - #40877, inclusive

• Operator: Oasis
• Field: Indian Hill (McKenzie)
• Comments:
• Oasis has three Barnes Federal permits, SWSE 11-152-102, 
• to be sited 2389 / 2390 FEL with one 420 FSL, 387 FSL, and the third 321 FSL

Ten permits renewed:

• Crescent Point (6): Manchuk (2); Campbell; Chase Douglas; and Holmes (2); Winner and Blue Ridge, Williams County;
• Zavanna (4): four Collie permits, Stony Creek, Williams County

Two producing wells (DUCs) reported as completed:

• 40025, 4,084, MRO, McKay 11-13H, Killdeer oil field, Dunn County;
• 40091, 455, Whiting, Sanish Bay W 5293 34-1 3T, Mountrail, County;