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Stock Market & Financial Investment News

News Breaks
December 17, 2012
06:28 EDTFJTSY, STXSeagate's EVault announces partnership with Fujitsu
EVault, a Seagate Company (STX), announced a partnership with Fujitsu (FJTSY). The strategic partnership enables Fujitsu to expand and enhance its backup and recovery portfolio by bringing to market a series of comprehensive hybrid cloud services that allow customers to leverage cloud backup effectively.
News For STX;FJTSY From The Last 14 Days
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August 3, 2015
08:02 EDTSTXSeagate price target lowered to $65 from $83 at Brean Capital
Brean Capital lowered its price target on Seagate to $65 from $83 citing the soft PC environment and the reality of its near-term earnings power. Brean Capital reiterated its Buy rating on Seagate, noting the company has reduced its operating expenses.
July 31, 2015
09:31 EDTSTXSeagate says taking out large asset right now not 'right move'
Says next 18-24 months is "tough market" on client side.
09:12 EDTSTXSeagate sees Q1 revenue $2.9B-$3.1B, consensus $3.2B
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08:01 EDTSTXSeagate reports Q4 EPS 77c ex-items, consensus 64c
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July 30, 2015
15:04 EDTSTXNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Exxon Mobil (XOM), consensus $1.11... Chevron (CVX), consensus $1.16... Seagate Technology (STX), consensus 64c... Tyco (TYC), consensus 56c... Newell Rubbermaid (NWL), consensus 62c... LifePoint Health (LPNT), consensus 99c.
08:42 EDTSTXSeagate July weekly volatility increases into Q4 and outlook
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July 29, 2015
14:12 EDTSTXEarnings Watch: Hard drive makers report amid PC sector fears
Western Digital (WDC) and Seagate (STX) are expected to report quarterly results on July 29 and 31 with conference calls scheduled for 5:00 pm ET and 9:00 am ET, respectively. The two companies develop and manufacture computer storage solutions, including hard disk drives. EXPECTATIONS: Analysts are expecting Western Digital to report earnings per share of $1.45 on revenue of $3.25B, while Seagate is expected to report earnings per share of 64c on revenue of $2.92B. During its last earnings conference call, Western noted a "cautious" near-term outlook and forecast Q4 EPS to be $1.50-$1.60 on revenue of $3.3B-$3.4B. PRELIMINARY RESULTS: On July 13, Seagate reported preliminary Q4 revenue of $2.9B, adjusted gross margins of 27%, and 45M unit shipments, driven by what the company characterized as "lower than expected intra-quarter demand." The company had previously guided Q4 revenue to $3.2B-$3.3B, and analysts were looking for $3.19B in revenue at the time. LAST QUARTER: On April 17, Seagate reported Q3 adjusted EPS of $1.08 against expectations for $1.04, and revenue of $3.3B versus estimates of $3.4B. Following that, Western Digital reported Q3 EPS of $1.87 on April 28 versus estimates of $1.89, and revenue of $3.5B against expectations for $3.6B. NEWS: On May 1, Seagate announced plans to combine its Cloud Systems and Electronic Solutions groups, and on July 14, the company said it extended its alliance with HP (HPQ). STREET RESEARCH: On May 15, RBC called Western Digital shares "compelling" due to multiple near-term positive catalysts, though Morgan Stanley said on May 19 that it was just "cautiously optimistic" on Western because of softened growth expectations for the general PC market. On May 28, Goldman Sachs called fears of PC weakness overdone and upgraded Western Digital to Buy, saying the company's increasingly enterprise-heavy mix gives it a healthy long-term profit forecast. On June 12, Longbow reported that its hard drive price checks were not quite as bad as it had feared, adding that Western Digital's guidance appears achievable while Seagate's forecast appeared at risk. Heading closer to earnings, Citi said on July 2 that it expects somewhat weak quarterly results for the two hard drive giants but recommended buying both Western Digital and Seagate shares on any perceived post-earnings weakness. Stifel somewhat echoed that point on July 8, saying investor sentiment seemed overly negative towards Western, with traders potentially underestimating the company's shift towards enterprise products. Note that on July 23, Morgan Stanley said its June CIO survey indicated incremental enterprise IT budget weakness, leading the research firm to downgrade Western Digital to Equal Weight and drop Seagate two notches to Underweight. On the M&A front, Susquehanna said on May 29 that SanDisk (SNDK) remained an attractive takeover target, with Western Digital looking like a likely buyer. However, RBC and CLSA both raised doubts on June 5 about the possibility of such a deal. PRICE ACTION: Shares of Western Digital are up 1.34% to $78.83 ahead of Wednesday's report, while Seagate is up 0.84% to $49.28.
July 27, 2015
08:09 EDTFJTSYFiserv to integrate Fujitsu PalmSecure tech into DNA processing platform
Fujitsu (FJTSY) Frontech North America said that Fiserv (FISV) has signed an agreement that will allow them to integrate Fujitsuís PalmSecure biometric technology into the DNA account processing platform from Fiserv. PalmSecure technology enables positive identification of accountholders across multiple delivery channels. The Fiserv integration will initially facilitate the authentication of accountholders in the branch to provide positive identity verification for activities such as withdrawing funds or accessing a safety deposit box.
July 23, 2015
10:00 EDTSTXOn The Fly: Analyst Downgrade Summary
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09:13 EDTSTXOn The Fly: Pre-market Movers
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06:29 EDTSTXSeagate downgraded to Underweight from Overweight at Morgan Stanley
Morgan Stanley downgraded Seagate two notches to Underweight from Overweight and cut its view on the US IT Hardware Industry to Cautious from In-Line. The firm's June CIO survey indicates incremental enterprise IT budget weakness, and when combined with a downtick in cloud capex, results in a reduction in estimates and multiple compression. Morgan Stanley lowered its price target on shares to $34 from $49.
July 22, 2015
08:34 EDTFJTSYImmersion enters into multi-year licensing agreement renewal with Fujitsu
Immersion Corporation (IMMR) announced that it has entered into a multi-year licensing agreement renewal with Fujitsu Limited (FJTSY), for use of Immersionís TouchSense software technology and Basic Haptics Intellectual Property. The agreement renewal enables Fujitsu to use Immersionís technology to advance its mobile experience with tactile capabilities and provide a more dynamic user interface with the sense of touch in Fujitsuís smartphones and tablets, starting with the companyís recently launched ARROWS NX F-04G.

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