SanDisk Corp. (SNDK) announced Thursday morning that it expects its revenue for the first fiscal quarter to be approximately $1.3 billion. Prior guidance had been for revenues of $1.40 billion to $1.45 billion. The consensus estimate is for revenues of $1.44 billion. Full year 2015 revenues are also expected to be lower than the previous guidance.
SanDisk gapped open dramatically lower Thursday and slipped further in early trade, before settling into a range. The stock closed down by 14.98 at $66.20 on the highest volume of the year. SanDisk sank beneath a 2 1/2 month trading range and set a new low for the year.
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