Key Calls: SanDisk, Merrill, AMD, Southwest, Pfizer

Key Street Calls This Morning:

SanDisk (SNDK): Citi maintains Buy & $35 target despite cutting C08 & C09 EPS.

Merrill Lynch (MER): Citi cuts 08 EPS to $1.00 from $1.20, maintains Buy: “Besides writedowns, trends looked great… no capital raise needed”

Advanced Micro Devices (AMD): Credit Suisse cuts estimates: “We are adjusting our 2Q revenue and EPS estimates to $1.39 bn / $(0.58) from $1.44 bn / $(0.60). We are concerned given share loss in 1Q, continued macro headwinds and new product introductions that will not gain traction until at least 2H08 – that management guidance is too aggressive.”

Southwest Airlines (LUV): Credit Suisse cuts estimates: “Looking ahead, unrelenting spikes in fuel prices (plus associated taxes) along with mtce cost pressures disappointing; cutting 2Q08E EPS to $0.14 (vs prior $0.30); 3Q now $0.13 (vs prior $0.27); 4Q at $0.02 (vs prior $0.19); FY08 now $0.34 (vs prior $0.78). Reducing our 09E EPS to $0.80 on fuel as well.”

Pfizer (PFE): Citi trims FY08 EPS to $2,38 from $2.41, reiterates Hold on unaltered guidance

Informatica (INFA): Goldman remains neutral and maintains $18 price target despite strong quarter. Lowers EPS estimates to $0.15, $0.71, and $0.82 from $0.18, $0.73, and $0.84 for 2Q08, FY08, and FY09 respectively.

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