Micron Technology (MU) got a price target reduction Friday as continued weakness in the PC market is expected to hurt the maker of computer memory chips. Pacific Crest Securities analyst Monika Garg, in a research report, lowered her price target on Micron Technology stock to 32 from 39, noting that lower-than-expected PC demand has hurt PC DRAM pricing in the first half of this year. “We believe DRAM (dynamic random access memory) supply growth
SoftBank founder Masayoshi Son is taking a more active role at Sprint, which could help the struggling wireless phone company get back on track, says Macquarie Capital. Sprint CEO Marcelo Claure last month outlined a massive network upgrade aimed at making Sprint’s service coverage No. 1 or No. 2 in major U.S. markets. It’s unclear how Sprint will fund the project.It could sell radio spectrum, perhaps to Verizon Communications. Macquarie analyst
Biotech Alnylam Pharmaceuticals (ALNY) reported positive data Friday on a rare-disease drug candidate and potential competitor to Alexion’s (ALXN) blockbuster Soliris. The market was underwhelmed, however, and Alnylam stock was down more than 3% in midday trading. Alnylam reported initial results from a phase 1/2 trial of ALN-CC5, a drug it’s developing with Sanofi’s (SNY) Genzyme division that targets complement component C5. Complements are