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Stock Market & Financial Investment News

News Breaks
January 29, 2013
13:19 EDTWDC, STXWestern Digital slumps following competitor's guidance
Hard disk drive maker Western Digital (WDC) is sinking after its competitor, Seagate (STX), reported stronger than expected second quarter results, but provided lower than expected third quarter revenue guidance. Seagate added that industry-wide hard disk shipments dropped 3% during its second quarter, compared with the previous three months. Seagate also stated that it was having difficulty forecasting future demand for its products. In a note to investors earlier today, Deutsche Bank analyst Sherri Scribner wrote that Seagate's outlook was similar to the prognosis provided by Western Digital last week. Both companies expect the total hard drive market to be flat to down slightly during the first three months of 2013, according to the analyst. Scribner, however, raised her price target on Seagate to $40 from $30, as she believes that the stock warrants a higher price to earnings multiple in light of what she sees as "positive dynamics" in the hard disk drive market. The analyst maintained a Hold rating on Seagate. In mid-afternoon trading, Western Digital fell $3.17, or 6.52%, to $45.47, while Seagate tumbled $3.63, or 9.70%, to $33.78.
News For WDC;STX From The Last 14 Days
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April 14, 2014
10:02 EDTSTXOn The Fly: Analyst Upgrade Summary
Acorda Therapeutics (ACOR) upgraded to Outperform from Market Perform at FBR Capital... Allegheny Technologies (ATI) upgraded to Neutral from Underperform at Sterne Agee... BP (BP) upgraded to Buy from Hold at Canaccord... Bloomin' Brands (BLMN) upgraded to Buy from Hold at Deutsche Bank... Boardwalk Pipeline (BWP) upgraded to Neutral from Underperform at BofA/Merrill... Boston Scientific (BSX) upgraded at BofA/Merrill... Charles Schwab (SCHW) upgraded to Buy from Neutral at UBS... Citigroup (C) upgraded to Hold from Sell at Rafferty Capital... Community Health (CYH) upgraded to Outperform from Perform at Oppenheimer... Eaton Vance (EV) upgraded to Neutral from Sell at Citigroup... Eli Lilly (LLY) upgraded to Hold from Underperform at Jefferies... F5 Networks (FFIV) upgraded to Buy from Hold at Stifel... HeartWare (HTWR) upgraded to Buy from Neutral at BTIG... Heartland Payment (HPY) upgraded to Hold from Sell at Stifel... Hyatt Hotels (H) upgraded to Outperform from Market Perform at FBR Capital... MasterCard (MA) upgraded to Outperform from Neutral at RW Baird... McDermott (MDR) upgraded to Neutral from Underweight at HSBC... Palo Alto (PANW) upgraded to Overweight at Stephens... PetroChina (PTR) upgraded to Neutral from Underperform at Credit Suisse... Seagate (STX) upgraded to Buy from Hold at Argus... Sensata (ST) upgraded to Buy from Neutral at Citigroup... Stryker (SYK) upgraded to Neutral from Reduce at SunTrust... TD Ameritrade (AMTD) upgraded to Buy from Neutral at UBS... TTM Technologies (TTMI) upgraded to Buy from Hold at Stifel... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... VMware (VMW) upgraded to Outperform from Underperform at CLSA... Visa (V) upgraded to Outperform from Neutral at RW Baird... Yahoo (YHOO) upgraded to Buy from Neutral at SunTrust... Zimmer (ZMH) upgraded to Neutral from Reduce at SunTrust... bebe stores (BEBE) upgraded to Buy from Neutral at Janney Capital.
07:32 EDTSTXSeagate upgraded to Buy from Hold at Argus
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