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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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November 19, 2014
10:29 EDTWDCGoogle now top competitor to Apple, Jefferies says
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07:40 EDTSTXUBS to hold a conference
Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 19 at 10:45 am; not all company presentations may be webcasted.Webcast Link
November 18, 2014
08:02 EDTSTXSeagate announces reseller agreement with SGI
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November 13, 2014
09:40 EDTWDCActive equity options trading
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November 10, 2014
15:55 EDTWDC, STXNeedham to hold a conference
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07:56 EDTSTXSeagate management to meet with Deutsche Bank
Meeting to be held in New York on November 10 hosted by Deutsche Bank.

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