New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
July 2, 2015
07:29 EDTWDCSeagate, Western Digital should be bought after earnings, says Citi
Citi sees near-term risk to shares of Seagate (STX) and Western Digital (WDC) due a "high probability" of weaker than expected Q2 results with a "significant" guide-down for Q3. PC demand has continued to deteriorate, which will weigh on the results of hard-disk-drive companies, Citi tells investors. The firm, however, believes the shares of both companies should be bought on the post-earnings weakness. It believes Q3 outlooks could bring the last cut to earnings estimates. Citi lowered its price target for Seagate to $55 from $63 and for Western Digital to $100 from $115. It keeps a Buy rating on both names.
June 29, 2015
08:08 EDTWDCJefferies sees recent weakness as attractive entry point in PC names
Jefferies analyst James Kisner cut his PC unit expectations for 2015 and 2016, citing recent negative data points including Micron's (MU) commentary and guidance, but added that he believes PC names may be finding a bottom and that the pullback in Western Digital (WDC), Seagate (STX), and HP (HPQ) creates an attractive entry point in all three stocks. Kisner sees the most potential upside in Western Digital, but lowered his price target on its shares to $116, and said HP may have the least potential downside, cutting his price target on the computer maker to $40.50. The firm keeps Buy rating on both HDD makers and on HP.
June 23, 2015
12:54 EDTWDCPC concerns weighing on shares of Seagate, Western Digital
Subscribe for More Information
10:00 EDTWDCOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
06:25 EDTWDCWestern Digital downgraded to Neutral from Overweight at JPMorgan
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use