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Micron Rising Despite Creepy Accounting Changes; Bull and Bear Debate Significance

Shares of DRAM and NAND flash memory-chip maker Micron Technology (MU) are down up 21 cents, or 1.2%, at $18.02, reversing last night’s after-hours losses, after the company beat fiscal Q2 expectations, and forecast this quarter well above consensus, citing a stabilizing environment for computing devices, and the move to newer “GDDR5” DRAM parts, among other things. The biggest thing sticking out last night were accounting changes: the company said it would start to report its non-GAAP earnings with stock comp expense excluded, a change that seems to please no one today.
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