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Stock Market & Financial Investment News

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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October 19, 2014
12:14 EDTWDCWestern Digital looks like inexpensive big data play, Barron's says
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October 10, 2014
10:01 EDTWDCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
October 9, 2014
16:59 EDTWDCJefferies initiates IT Hardware space, names Western Digital top pick
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16:23 EDTWDCWestern Digital initiated with a Buy at Jefferies
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11:05 EDTWDCSeagate court win net-neutral to Western Digital, says Brean Capital
Brean Capital believes Seagate's (STX) $800M arbitration appeal victory over Western Digital (WDC) was not entirely unexpected. The firm sees the ruling as an incremental positive for Seagate and believes it will have no impact to Western Digital's operations or capital allocation, noting that the company had already accrued liability of $758M and that its intends to make payment using foreign-based cash. Brean reiterates its Buy ratings on both stocks.
08:11 EDTWDCWestern Digital and Gobbler partner for cloud collaboration platform
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October 8, 2014
14:30 EDTWDCSeagate confirms court affirms arbitration award from Western Digital
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13:08 EDTWDCWestern Digital to pay $630.4M award to Seagate after court ruling
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