Let's check out what's new in Joel Greenblatt's Magic Formula® Investing (MFI) screens this week.

A few notable developments this week. SanDisk (SNDK) has come way down after a disappointing outlook, and now screens as one of the top #50 MFI stocks. With flash storage continuing to gain ground everywhere, from consumer devices to data centers, now could be a good opportunity to take a look at the stock.

Another stock that is down with no apparent good reason is Ubiquiti (UBNT), down over 10% in the past few weeks. We continue to like the firm's combination of solid growth potential, excellent financial metrics, committed leadership, and cheap valuation.

Here are the full lists:

Entering the 50 over 50 million screen:

Engility Holdings Inc (EGL)
NewLink Genetics Corp (NLNK)
SanDisk Corp (SNDK)
Ubiquiti Networks Inc (UBNT)
Weight Watchers International Inc. (WTW)

Dropping out of the 50 over 50 million screen:

Deluxe Corp (DLX)
Korn/Ferry International (KFY)
Mannatech Inc (MTEX)
Qualcomm Inc. (QCOM)
Vince Holding Corp (VNCE)

Entering the 50 over 1 billion screen:

NewLink Genetics Corp (NLNK)
Philip Morris International Inc (PM)
Science Applications International Corp (SAIC)
SanDisk Corp (SNDK)

Dropping out of the 50 over 1 billion screen:

General Dynamics Corp (GD)
Lannett Co Inc. (LCI)
Nu Skin Enterprises Inc. (NUS)
Xilinx Inc. (XLNX)

Entering the 30 over 3 billion screen:

Nvidia Corporation (NVDA)
Philip Morris International Inc (PM)
SanDisk Corp (SNDK)

Dropping out of the 30 over 3 billion screen:

Apple Inc (AAPL)
General Dynamics Corp (GD)
Manpower Inc (MAN)