Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Micron Technology, Inc.    MU

Delayed Quote. Delayed  - 02/05 04:00:02 pm
11 USD   -2.05%
02/05 MICRON TECHNOLO : to Host Analyst Conference
02/04DJEU Clears Western Digital's SanDisk Acquisition
02/03 MICRON TECHNOLO : to Host Analyst Conference Feb 3, 2016
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Micron Settles Oracle's Price-Fixing Suit; Revises 2Q To Book Cost

03/30/2012 | 06:55am US/Eastern

Micron Technology Inc. (>> Micron Technology, Inc.) revised its fiscal second-quarter results to reflect its settlement of a 2010 lawsuit by Oracle Corp. (ORCL) over alleged antitrust and unfair competition violations.

Oracle's lawsuit accused the memory-chip maker of engaging in the price fixing of dynamic random access memory, or DRAM, by intentionally restricting the production capacity of its manufacturing plants. The suit, taken on as part of Oracle's acquisition of Sun Microsystems Inc., also alleged the higher prices caused Sun to lose money as well as customers, who couldn't afford its products containing high-priced DRAM.

Micron on Friday said the settlement reduced its results for the quarter ended March 1 by $58 million.

As a result, the company widened its fiscal second-quarter loss to $282 million, or 29 cents a share, on sales of $2.01 billion.

Micron last week reported it swung to its third consecutive quarterly loss, as weaker selling prices for computer memory chips continued to challenge the semiconductor company's top and bottom lines.

Shares closed Thursday at $8.42 and were inactive premarket. The stock is up 34% so far this year.

 
   -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com 

Stocks mentioned in the article : Micron Technology, Inc.
React to this article
Latest news on MICRON TECHNOLOGY, INC.
02/05 MICRON TECHNOLOGY : to Host Analyst Conference
02/04DJEU Clears Western Digital's SanDisk Acquisition
02/03 MICRON TECHNOLOGY : to Host Analyst Conference Feb 3, 2016
02/03 Micron Technology to Host Analyst Conference
02/01 MICRON TECHNOLOGY : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Y..
01/26 CATALENT : Overcoming Early Stage Challenges in Formulation Development to be Pr..
01/22DJPhilips Nixes a Chinese Deal, Citing Regulator's Objection
01/21 MICRON TECHNOLOGY : BRIEF: Micron employees split $50,000 Powerball prize
01/21 NASDAQ 100 MOVERS : Wdc, xlnx
01/20 NASDAQ 100 MOVERS : Mu, lltc
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials