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News Breaks
January 23, 2013
13:19 EDTWDCEarnings Preview: Western Digital shares higher despite weakening PC market
Western Digital (WDC) is set to report earnings after the market close on Wednesday, January 23, with a conference call scheduled for 6:00 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 EPS of $1.82 on revenue of $3.68B, according to First Call. Consensus range for EPS is $1.71-$2.03 on revenue of $3.6B-$3.94B... LAST QUARTER: Western Digital reported Q1 EPS of $2.36 against estimates for $2.30 on revenue of $4B against estimates for $3.98B. On its Q1 earnings call, Western Digital lowered its Q2 adjusted EPS guidance to $1.65-$1.85, numbers lower than then-current estimates for $2.43. The company also guided lower on revenue, seeing $3.55B-$3.7B for Q2 against then-current estimates for $4.13B. On its Q1 call, the company said it is still targeting FY13 adjusted EPS of $10, though it said the PC industry is very weak and global macroeconomic weakness is impacting overall IT spending... STREET RESEARCH: Street research has been mixed on Western Digital since its Q1 earnings report, with shares downgraded to Underperform from Outperform at CLSA the day after its Q1 report. Last week, shares of Western Digital were initiated with a Sector Perform rating at Pacific Crest and downgraded to Hold from Buy at Standpoint Research... PRICE ACTION: Shares of Western Digital have gained more than $11.50, or over 32%, since the first day of trading after its Q1 earnings report. In afternoon trading ahead of its Q4 report, shares of Western Digital are down 0.7%.
News For WDC From The Last 14 Days
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January 28, 2015
09:59 EDTWDCOn The Fly: Analyst Upgrade Summary
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09:15 EDTWDCOn The Fly: Pre-market Movers
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08:54 EDTWDCWestern Digital upgraded to Buy from Neutral at Longbow
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08:48 EDTWDCWestern Digital free cash flow underappreciated, says Brean Capital
Brean Capital believes the free cash flow story at Western Digital remains underappreciated. The firm also expects margins to expand, capital returns to increase, and for the company to execute on M&A. Brean Capital reiterated its Buy rating and $150 price target on Western Digital shares.
08:39 EDTWDCWestern Digital reported good results, says Pacific Crest
Pacific Crest says that a mix shift towards enterprise drives is lifting Western Digital's margins. The firm continues to recommend buying the shares.
07:54 EDTWDCWestern Digital margin, market share loss concerns overblown, says Susquehanna
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January 27, 2015
18:46 EDTWDCWestern Digital says no plans to change current capital allocation
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18:20 EDTWDCOn The Fly: After Hours Movers
UP AFTER EARNINGS: ABIOMED (ABMD), up 27%... Yahoo (YHOO), up 7.2% after reporting fourth quarter results and that it is planning a tax-free spin-off of remaining Alibaba (BABA) stake... Freescale Semiconductor (FSL), up 10%... Marten Transport (MRTN), up 6%... U.S. Steel (X), up 9.2%... Key Tronic (KTCC), up 4%... Juniper Networks (JNPR), up 4.4%... Western Digital (WDC), consensus 2.6%... Electronic Arts (EA), up 4.8%... VMware (VMW), up 1.7%... AT&T (T), up 1.9%... Apple (AAPL), up 5.1%. ALSO HIGHER: Cirrus Logic (CRUS), up 2.9%, Skyworks (SWKS), up 1.3%, NXP Semiconductors (NXPI), up 1.5%, and Qorvo (QRVO), up 1% following Apple's first quarter results... EMC (EMC), up 2.1% following VMware's fourth quarter results... Alibaba (BABA), up marginally following Yahoo results and tax-free spin-off plans... DOWN AFTER EARNINGS: Ethan Allen (ETH), down 13.1%... EZCORP (EZPW), down 7.1%... International Game Technology (IGT), down 2.9%... Open Text (OTEX), down 4.4%. ALSO LOWER: Synergy Resources (SYRG), down 3.7% after filing to sell $150M of common stock.
18:17 EDTWDCWestern Digital sees Q3 adjusted EPS $1.90-$2.00, consensus $1.99
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18:11 EDTWDCWestern Digital reports Q2 adjusted gross margin 30.5%
Comment from company's Q2 earnings conference call.
16:18 EDTWDCWestern Digital generates $243M in cash from operations in Q2
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16:18 EDTWDCWestern Digital repuchased 3.2M shares during Q2
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16:16 EDTWDCWestern Digital reports Q2 adjusted EPS $2.26, consensus $2.10
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15:35 EDTWDCNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Apple (AAPL), consensus $2.60; AT&T (T), consensus 55c; Amgen (AMGN), consensus $2.05; Yahoo (YHOO), consensus 29c; ACE (ACE), consensus $2.29; Stryker (SYK), consensus $1.45; Western Digital (WDC), consensus $2.10; Electronic Arts (EA), consensus 92c; Juniper (JNPR), consensus 31c; Total System Services (TSS), consensus 53c; Freescale Semiconductor (FSL), consensus 33c; Amdocs (DOX), consensus 81c; VMware (VMW), consensus $1.07; International Game Technology (IGT), consensus 25c; United States Steel (X), consensus 87c; Cytec (CYT), consensus 61c.
14:41 EDTWDCWestern Digital technical notes ahead of earnings
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06:26 EDTWDCSeagate likely lost share to Western Digital, says Citigroup
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January 26, 2015
11:18 EDTWDCSeagate, Western Digital pullback a buying opportunity, says Brean Capital
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January 22, 2015
07:56 EDTWDCBullish stance continues for Western Digital, Seagate, says Brean Capital
Brean Capital said it maintains its bullish stance on hard disk-drive makers Western Digital (WDC) and Seagate (STX), citing continued growth, margin expansion and ongoing multiple expansion. Brean Capital reiterates its Buy rating on both Western Digital and Seagate shares.

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