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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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July 18, 2014
07:25 EDTWDCWestern Digital has positive read through from Seagate results, says RBC Capital
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July 17, 2014
17:56 EDTWDCWestern Digital down 1.2% after peer Seagate reports Q4 results
July 16, 2014
10:00 EDTWDCOn The Fly: Analyst Upgrade Summary
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09:15 EDTWDCWestern Digital upgraded at RW Baird
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06:06 EDTWDCWestern Digital upgraded to Outperform from Neutral at RW Baird
July 15, 2014
10:00 EDTWDCOn The Fly: Analyst Initiation Summary
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July 14, 2014
16:40 EDTWDCWestern Digital initiated with a Positive at Susquehanna
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11:21 EDTWDCWestern Digital added to short-term buy list at Deutsche Bank
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08:34 EDTWDCPC market stability could be short-lived, Reuters says
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06:59 EDTWDCWestern Digital price target raised to $118 from $100 at Deutsche Bank
Deutsche Bank raised its price target for Western Digital shares to $118 on expectations PC market strength will continue and that enterprise will recover in the second half of 2014. Deutsche expects Western Digital to report June quarter results above guidance due to market share gains and it keeps a Buy rating on the stock.
July 11, 2014
08:49 EDTWDCJune CIO survey indicates strong 2H, says Morgan Stanley
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July 10, 2014
09:13 EDTWDCHP Western Digital Seagate to benefit from PC rebound, says RBC Capital
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July 8, 2014
09:38 EDTWDC, WDCSeagate and Western Digital checks cautious at CLSA
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