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Stock Market & Financial Investment News

News Breaks
July 30, 2014
13:14 EDTSTX, WDCEarnings 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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April 22, 2015
19:36 EDTSTXSeagate announces new $2.5B share repurchase authorization
Seagate Technology announced that its board has authorized the company to repurchase up to $2.5B of its outstanding ordinary shares. As a result of the April Authorization, Seagate currently has an aggregate authority to repurchase approximately $3.1B of its ordinary shares.
19:35 EDTSTXSeagate announces new $2.5B share repurchase authorization
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April 20, 2015
10:11 EDTSTXOptions with decreasing implied volatility
Options with decreasing implied volatility: BPT WETF NFLX BMRN SNDK STX TSM MAT FAST INTC
07:38 EDTSTXBrean Capital still sees Seagate as a favorite secular long
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April 17, 2015
10:14 EDTSTXOptions with decreasing implied volatility
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09:26 EDTSTXSeagate sees Q4 revenue $3.2B-$3.3B, consensus $3.4B
Sees Q4 addressable market to be relatively flat with Q3. Sees Q4 margins approximately 28.5%. Sees Q4 operating expenses at $555M. CEO Stephen Luczo stated that the second half of FY15 will be stronger than the first half, with demand coming from the PC market, seasonal gaming demand, and continued stability in the enterprise market with potential upside from hyper scale deployments. Guidance provided during Q4 earnings conference call.
08:04 EDTSTXSeagate reports Q3 EPS adjusted $1.08, consensus $1.04
Reports Q3 revenue $3.3B, consensus $3.4B. “In light of dynamic market conditions this quarter we are quite satisfied with our operational performance and ability to return value to shareholders,” said Steve Luczo, Seagate’s chairman and CEO. “Near-term macro uncertainty is affecting certain areas of our addressable market however we remain optimistic that market demand for exabytes of storage will continue to increase over the long-term. Looking ahead, we are focused on aligning our storage technology portfolio effectively to capitalize on market growth opportunities, demonstrating operating profitability and returning value to shareholders.”
April 16, 2015
15:44 EDTSTXSeagate April 56 straddle priced for 4.7% movement into Q3
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15:23 EDTSTXNotable companies reporting before tomorrow's open
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15:20 EDTSTXSeagate technical notes before earnings
The stock on a long-term basis, 5-year chart, has broken its uptrend support line at the 50-week moving average. If the news is more bullish than expected, that moving average could come into play as resistance. That would put the first significant upside test at $59.24. Resistance above that would be at $63.39. If the news is more bearish than expected, the first significant area of support would be at $51.05, a recent pivot low. The $50 level has been important support through the prior year. A breakdown before that level would therefore be particularly bearish. Next support below $50 would be at $48.49, the 52-week low.
06:31 EDTWDCWestern Digital assumed with an Overweight at JPMorgan
Price target lowered to $105 from $115.
06:31 EDTSTXSeagate assumed with a Neutral at JPMorgan
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April 15, 2015
10:00 EDTSTX, WDCOn The Fly: Analyst Initiation Summary
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06:07 EDTSTXSeagate initiated with a Buy at Maxim
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06:07 EDTWDCWestern Digital initiated with a Buy at Maxim
Target $131.
April 14, 2015
10:01 EDTSTX, WDCOn The Fly: Analyst Upgrade Summary
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06:25 EDTWDCWestern Digital upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded Western Digital to Buy and maintained its $117 price target. The firm believes fundamentals have bottomed and valuation is attractive at current levels. BofA/Merrill lowered estimates on further PC weakness but said pricing is holding up and the mix shift to capacity HDDs is driving ASP and margin improvement.
06:25 EDTSTXSeagate upgraded to Neutral from Underperform at BofA/Merrill
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April 13, 2015
07:24 EDTWDCWestern Digital added to Franchise Pick List at Jefferies
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April 12, 2015
16:46 EDTSTXIntel, Seagate may rise despite potentially weak earnings reports, Barron's says
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