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Stock Market & Financial Investment News

News Breaks
April 11, 2013
10:49 EDTSTXSeagate April weekly volatility elevated on wide share price movement
Seagate April weekly call option implied volatility is at 45, April is at 33, May is at 38, June is at 34; compared to its 26-week average of 39 according to Track Data, suggesting large near term price movement after the release of weak PC data.
News For STX From The Last 14 Days
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July 30, 2014
13:14 EDTSTXEarnings Preview: Western Digital shares rise ahead of Q4 report
Western Digital (WDC) is set to report fourth quarter earnings on Wednesday, July 30, with a conference call scheduled for 5:00 pm ET. Western Digital provides digital content storage solutions, and is primarily engaged in the sale of hard drives for both personal and business use. EXPECTATIONS: Analysts are looking for earnings per share of $1.74 on revenue of $3.59B, according to First Call. The consensus range for EPS is $1.66-$1.88 on revenue of $3.54B-$3.69B. On its third quarter earnings conference call, the company said it sees Q4 EPS of $1.65-$1.75, which was below then-consensus estimates for $1.89. Western Digital also guided to Q4 revenue of $3.5B-$3.6B, which was roughly in-line with then-estimates for $3.74B. The company’s Q4 outlook marked the third consecutive quarter that its guidance disappointed. LAST QUARTER: On Wednesday April 30, Western Digital reported Q3 EPS of $1.94 on revenue of $3.7B, which compared to estimates for earnings of $1.88 on revenue of $3.74B. STREET RESEARCH: Wall Street research has been fairly quiet on Western Digital during the quarter. On May 14, Barclays upgraded Western Digital to Overweight from Equalweight citing the potential for increased buyback activity and cost synergies. The firm raised its price target for the shares to $98 from $95. On July 1, Brean Capital noted that it sees "material" earnings upside in the June quarter for Western Digital and Seagate (STX). The firm explained that it loves both stocks in regards to the short and long terms and it urged investors to get into the names at current levels. Brean had a $125 price target for Western Digital. Deutsche Bank increased its price target on Western Digital to $118 from $100 on July 14, citing expectations that PC market strength will continue and that enterprise will recover in 2H14. Deutsche said it expected Western Digital to report June quarter results above guidance due to market share gains and it maintained the stock with a Buy rating. On July 16, RW Baird upgraded Western Digital to Outperform from Neutral citing PC strength and renewed traction in Hyperscale Cloud and Enterprise. The firm upped its price target on the shares to $120 from $95. PRICE ACTION: Shares of Western Digital have increased 15.63% since last quarter's earnings report. In afternoon trading ahead of its Q4 report, Western Digital is up almost 1% to $101.50.

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