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Monday, July 24, 2006

SanDisk Going Strong

SanDisk (SNDK) is up drastically after-hours. SNDK posted EPS of $0.47 GAAP and pro-forma of $0.58 on revenues of $719 million. Expectations were only for the company to post EPS at $0.45 on revenues of about $692 million. The company amintained an optimistic outlook on the CEO interview on CNBC. Shares of SNDK closed up 7% at $40.20, and are now trading up another $5.60 at $45.80.

Oddly enough, the recent IPO Spansion (SPSN) closed up 1.5% at $13.82 but hasn't traded up in conjunction with SNDK yet. Anyone betting their money against this company for this quarter is probably feeling the wrath of a short squeeze after hours.

Jon C. Ogg
July 24, 2006
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