Micron Technology (MU): Micron is coming off a mixed FQ3 which delivered in line earnings but fell short on the top line. Year over year comparisons were unfavorable on both counts thanks to weakness in its PC business. Earnings dropped over 100% for a second consecutive quarter while revenue fell 25%. Micron’s primary DRAM market appears to be rebounding with indications of a broader bounceback in PC demand. Additional initiatives to expand NAND and NOR flash memory solutions are being widely used in the latest mobile computing devices and should provide a boost to the top line. Micron still faces some near term headwinds. Pricing pressure in SSD and heavy competition from key players like Western Digital and Seagate Technology could squeeze results. Shares have soared over 60% in the past 6 months but it still would be wise to expect volatility coming out of this report.

Darden Restaurants (DRI): Darden’s recent recovery may have hit its first roadblock.  The restaurant group capped off its fiscal 2016 on quite a sour note. Earnings were reported right in line with expectations but were significantly lower than prior quarters. Revenue, on the other hand, delivered negative growth and missed analyst’s targets by about $30 million. Early indications look as though Darden is back on track and prepared to deliver a strong FQ1 report. Initiatives to incorporate technology to improve kitchen efficiency combined with new menu items should help drive top line growth. Meanwhile, new store openings will help boost sales volume but also pressure margin growth.