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Stock Market & Financial Investment News

News Breaks
July 30, 2014
13:14 EDTWDC, STXEarnings 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.
News For WDC;STX From The Last 14 Days
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March 4, 2015
13:12 EDTWDC, STXSanDisk new product more disruptive than recognized, analyst says
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07:21 EDTWDCMorgan Stanley to hold a conference
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March 3, 2015
09:11 EDTWDCWestern Digital reinstated with a Neutral at BofA/Merrill
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08:06 EDTWDCWestern Digital agrees to acquire Amplidata
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07:23 EDTSTXSeagate reinstated with an Underperform at BofA/Merrill
BofA/Merrill reinstated Seagate with an Underperform and $50 price target. The firm sees risk to HDD TAM given a worsening PC demand and headwinds in client and enterprise Hard Disk Drives from Solid State Drives.
05:53 EDTSTXStocks with implied volatility movement; WTW STX
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March 2, 2015
09:59 EDTSTXSeagate call active on renewed takeover chatter
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09:54 EDTSTXRumor: Seagate moves up on renewed takeover chatter
07:41 EDTSTXMorgan Stanley to hold a conference
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February 24, 2015
12:47 EDTSTXEarnings Preview: HP reports with break-up inching closer
Hewlett-Packard (HPQ) is set to report first quarter earnings after the market close on Tuesday, February 24, with a conference call scheduled for 5:00 pm ET. Hewlett-Packard is an IT company that provides hardware, software, and business and enterprise solutions. In October of last year, HP announced plans to separate into two new publicly traded companies: one comprising HP's enterprise technology infrastructure, software and services businesses, which will do business as Hewlett-Packard Enterprise, and one that will comprise HP's personal systems and printing businesses, which will do business as HP Inc. EXPECTATIONS: Analysts are looking for earnings per share of 91c on revenue of $27.34B, according to First Call. The consensus range for EPS is 88c-95c on revenue of $27.01B-$27.92B. With its last earnings report, the company said it expects Q1 EPS of 89c-93c. HP has an FY15 EPS forecast of $3.83-$4.03, compared to a consensus estimate of $3.96. LAST QUARTER: On November 25, HP reported fourth quarter EPS of $1.06, matching the consensus estimate, on revenue of $28.4B, against a consensus estimate of $28.76B. HP said its Q4 personal systems revenue was up 4% from the prior year period, with total units up 5%, including Desktops units being down 2% and Notebooks units being up 8%. Enterprise Group revenue was down 4% year over year, with Industry Standard Servers revenue down 2%, Storage revenue down 8%, Business Critical Systems revenue down 29%, Networking revenue up 2% and Technology Services revenue down 3%. NEWS: On the day after HP's Q4 report, HP CEO Meg Whitman said in an interview on CNBC that the company will have a moratorium on acquisitions during 2015 as it readies for its split. Whitman also noted that the newly formed companies will have a supply chain agreement to ensure they do not lose leverage after their split. In mid January, research firm Gartner estimated that worldwide shipments of PCs increased 1% last quarter. "These results indicate a slow, but consistent improvement following more than two years of decline," the firm wrote. Late last month, HP said it has been "working diligently to ensure that both HP Inc. and Hewlett-Packard Enterprise are set up for success" and announced Hewlett-Packard Enterprise will be headed by Meg Whitman as President and CEO and that HP Inc. will be led by Dion Weisler as President and CEO. STREET RESEARCH: On December 17, Citigroup analyst Jim Suva contended that sales of PCs will be at least flat next year, before growing slightly in 2016 and 2017. The firm identified HP as the best way to play better than expected PC sales. Suva raised his price target on HP shares to $46 from $40 and kept a Buy rating on the stock. Also at that time, Suva raised his price target on hard disk drive maker Western Digital (WDX) to $125 from $110 and on its competitor, Seagate (STX), to $74 from $70, as he noted that the companies obtain about 50% of their revenue from PCs. He kept Buy ratings on both names. On January 13, Pacific Crest downgraded HP to Sector Perform from Outperform, citing increased competition and the fact that a number of companies are buying integrated IT stacks and buying fewer individual servers and IT storage products. More recently, Wells Fargo said it believes that HP's Q1 results could exceed the consensus outlook, driven by PC share gains, strong server demand, and solid printing demand. The firm believes that currency issues may pressure the company's outlook, but it thinks that investors expect such a scenario. The firm reiterated an Outperform rating on the shares. PRICE ACTION: Over the last three months, shares of HP are up almost 2%. Near midday ahead of Tuesday's report, the stock was down fractionally near $38 per share.
07:19 EDTSTXSusquehanna to hold a summit
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