Goldman Takes Sandisk Off Conviction Buy List, Originally Added To Conviction Buy List on March 10

"We remove SanDisk from the Conviction List post the negative preannouncement this morning. Our positive call has clearly been wrong and the timing was particularly poor. SanDisk negatively revised guidance for the second straight quarter, again due in part to company specific issues. We believe execution will need to improve for several quarters in order for the multiple to re-expand. In addition, the catalysts we identified (such as the May analyst day) no longer hold. Since added to the Conviction List on 3/10/15, using the intraday price, SNDK is -17% (vs. the S&P +1%)."