New User:

-or-
Username:
Password:
Forgot your password?

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
Check below for free stories on WDC;STX the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 17, 2014
12:01 EDTSTXSeagate signs strategic agreement with Baidu
Subscribe for More Information
September 15, 2014
08:27 EDTSTXSeagate revenue upside guidance reinforces bullish stance, says Brean Capital
Brean Capital noted Seagate's raised revenue guidance, citing good strength across all drives segments. The firm said they now see new upside to its September quarter and that Seagate could see an incrementally strong December quarter versus the company's original flat forecast, given its current cloud momentum. Brean has a Buy rating with a $70 price target on the stock.
07:19 EDTSTXSNIA to hold a conference
Subscribe for More Information
September 12, 2014
12:59 EDTSTXSeagate price target raised to $65 at FBN Securities after FY17 guidance issued
Subscribe for More Information
10:10 EDTSTXSeagate raises September quarter view at analyst day, says Brean Capital
Subscribe for More Information
05:45 EDTSTXSeagate to host conference call
Subscribe for More Information
September 10, 2014
08:02 EDTSTXSeagate says has shipped 10 millionth solid state hybrid hard drive
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use