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Stock Market & Financial Investment News

News Breaks
May 27, 2014
12:06 EDTWDC, STXSeagate rises after firm recommends buying shares
Shares of hard disk drive maker Seagate (STX) are climbing after RBC Capital recommended buying the stock following its recent decline. WHAT'S NEW: Investors should own Seagate during the second half of this year and beyond, as several positive catalysts could drive the stock higher, RBC analyst Amit Daryanani wrote in a note to investors disseminated earlier today. Stronger than expected sales to companies and other organizations could enable Seagate's results to surpass expectations in the second half of this year, the analyst stated. Moreover, the proliferation of data is likely to enable Seagate to sustain a compound annual growth rate of more than about 35%, making it attractive over the long-term, the analyst contended. Additional cost cutting going forward is also likely to boost the company, added Daryanani, who kept a $60 price target and Outperform rating on the stock. PRICE ACTION: Near noon, Seagate rose 2% to $53, while Western Digital (WDC), another hard disk drive maker, climbed 2.2% to $86.66.
News For STX;WDC From The Last 14 Days
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March 23, 2015
08:03 EDTSTXSeagate Q2 visibility remains limited, says BofA/Merrill
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March 22, 2015
17:01 EDTWDCWestern Digital, PACCAR, two others look discounted, Barron's says
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March 19, 2015
09:16 EDTSTXPope Resources appoints John Lamb to VP and CFO effective April 20
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March 17, 2015
08:06 EDTSTXSeagate decline overdone, says RBC Capital
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08:04 EDTWDCWestern Digital decline overdone, says RBC Capital
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March 16, 2015
10:02 EDTSTXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at UBS... Avago (AVGO) upgraded to Buy from Neutral at DA Davidson... Francesca's (FRAN) upgraded to Buy at Janney Capital... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Jabil Circuit (JBL) upgraded to Buy from Hold at Cross Research... JetBlue (JBLU) upgraded to Outperform at Raymond James... King Digital (KING) upgraded to Overweight from Neutral at JPMorgan... L.B. Foster (FSTR) upgraded to Outperform from Neutral at Macquarie... NextEra Energy (NEE) upgraded to Buy from Hold at Deutsche Bank... Petrobras Argentina (PZE) upgraded to Buy from Neutral at BofA/Merrill... Qorvo (QRVO) upgraded to Buy from Neutral at DA Davidson... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Royal Gold (RGLD) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded at Needham... Standex (SXI) upgraded to Buy from Hold at BB&T... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie... West Corp. (WSTC) upgraded to Outperform from Neutral at RW Baird... Xilinx (XLNX) upgraded to Buy from Hold at Drexel Hamilton... YPF (YPF) upgraded to Buy from Neutral at BofA/Merrill.
08:18 EDTSTXSeagate upgraded at Needham
As noted earlier, Needham upgraded Seagate to Strong Buy from Buy. Needham believes that improvements in Seagate's cloud and enterprise businesses have offset weak PC demand and negative currency fluctuations. The firm expects the company to report in-line or better than expected EPS. Target remains $65.
08:03 EDTSTXSeagate announces three-year partnership with CERN
Seagate Technology announced it has entered into a three-year partnership with CERN openlab to collaborate on the development of the Seagate Kinetic Open Storage platform. The partnership aims to help CERN, the European Organization for Nuclear Research, to better manage and store the 100 petabytes of data the Large Hadron Collider has generated to date, as well as the additional 2-3 petabytes of information it produces on a monthly basis. A second, future research project between Seagate and CERN will look at CERNís EOS storage system to determine whether there are opportunities to enhance and improve the system.
07:28 EDTSTX, WDCWestern Digital, Seagate estimates lowered on PC weakness at Jefferies
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06:18 EDTSTXSeagate upgraded to Strong Buy from Buy at Needham
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