UPDATE: Micron Posts FQ1 Loss

Micron Technology MU posted a lower fiscal first-quarter revenue. Micron's quarterly revenue fell to $1.83 billion, from $2.09 billion, in the year-earlier period. However, analysts were expecting revenue of $2.005 billion. The company posted a quarterly net loss of $275 million, or $0.27 per share, versus a year-ago net loss of $187 million, or $0.19 per share. However, analysts were expecting a loss of $0.20 per share. Micron shares dropped 2.65% to $6.61 in after-hours trading.