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Stock Market & Financial Investment News

News Breaks
December 5, 2012
13:37 EDTWDCWestern Digital breaks out above its 10-day moving average, levels to watch
The shares are trading up above the 10-day moving average, which has been a downtrend resistance line. Resistance is currently at $37.16, a prior pivot high. Support is at $35.89.
News For WDC From The Last 14 Days
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May 28, 2015
14:21 EDTWDCWestern Digital shares jump after Goldman Sachs upgrade
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10:02 EDTWDCOn The Fly: Analyst Upgrade Summary
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09:27 EDTWDCOn The Fly: Pre-market Movers
HIGHER: Rally Software (RALY), up 44% after deal to be bought by CA Technologies for $19.50 per share... IMAX (IMAX), up 6.5% after IMAX China files application for IPO on Hong Kong Stock Exchange... Avago (AVGO), up 2.8% after announcing deal to buy Broadcom (BRCM) for $37B in cash and stock. Broadcom shares are down 1% following the announcement... Western Digital (WDC), up 2.4% following upgrade to Buy from Neutral at Goldman. UP AFTER EARNINGS: Express (EXPR), up 8%... Abercrombie & Fitch (ANF), up 4.3%. LOWER: NeoStem (NBS), down 22.8% after 12.5M share secondary price at $2 per share... Ctrip.com (CTRP), down 1.6% after reportedly disclosing cyberattack against its services. DOWN AFTER EARNINGS: Orbital ATK (OA), down 1.6%... Signet (SIG), down 3.5%... Sanderson Farms (SAFM), down 3%... Dangdang (DANG), down 11%.
05:53 EDTWDCWestern Digital upgraded to Buy from Neutral at Goldman
Goldman Sachs analyst Bill Shope upgraded Western Digital (WDC) to Buy from Neutral saying concerns over the weak PC market are overdone. Shope points out that Western Digital's business is increasingly dependent on non-PC Exabyte growth. He also notes Goldman's leveraged buyout model finds a 14.3% base case internal rate of return. The analyst raised his price target for shares to $122 from $106. The data storage solutions company closed yesterday up $1.18 to $94.37. Its peer Seagate (STX), which Shope says Western Digital trades at a discount to, closed yesterday up 75c to $55.34.
May 19, 2015
12:55 EDTWDCPC related stocks struggle after Morgan Stanley says PC turn won't come until Q3
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08:33 EDTWDCMorgan Stanley cautious in near-term on PC names
Morgan Stanley is more cautious on PC names near-term, given PC and HDD inventory builds quarter-to-date and weaker April ODM sales. The firm's analyst team continues to believe Q1 was a bottom in year-over-year growth, but now expects normal Q2 seasonal growth instead of above normal and thinks any recovery will likely be delayed until Q3. Morgan Stanley is cautiously optimistic on Western Digital (WDC) due to its diverse revenue drivers, sees value creation catalysts for Hewlett-Packard (HPQ) and believes Microsoft (MSFT) shares reflect the challenging PC market and Win 10. The firm is more cautious on semis such as NVIDIA (NVDA) given higher valuations, share loss at Advanced Micro (AMD), potential 2H margin pressure at Intel (INTC), and Morgan is cautious on PC DRAM stocks near-term due to weaker pricing.
May 15, 2015
07:04 EDTWDCWestern Digital can reach $10+ EPS in fiscal 2017, says RBC Capital
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