Jefferies Reiterates Buy on Seagate Technology (STX) Despite Negative 3Q Pre-Announcement

Argus Downgrades Seagate Technology (STX) to Hold

April 15, 2016 9:39 AM EDT

Argus downgraded Seagate Technology (NASDAQ: STX) from Buy to Hold.

The analyst said the directional decline in the gross margin is worrisome. "While Seagate is now focusing on the cloud data center in the enterprise space, it is still highly dependent... More

Brean Capital Cuts Price Target on Seagate Technology (STX) Following Negative Pre-Announcement

April 14, 2016 9:55 AM EDT

Brean Capital maintained a Buy rating on Seagate Technology (NASDAQ: STX), and cut the price target to $50.00 (from $65.00), following a negative March quarter pre-announcement. However, Brean Capital believes that the company's normalized EPS can remain at $4.00 - $5.00 for CY17 & CY18.

Analyst... More

UBS Cuts Price Target on Seagate Technology (STX) Following Negative Preannouncement

April 14, 2016 8:56 AM EDT

UBS maintained a Sell rating on Seagate Technology (NASDAQ: STX), and cut the price target to $22.00 (from $24.00), following the company's negative preannouncement. STX expects to report 39mn units and revenue of $2.6bn. UBS' model shows $2.65bn in sales on 39.2mn units. ASP estimates of... More

Cowen Trims PT, Estimates on Seagate (STX) Following Negative Prelim. Q3 Results

April 14, 2016 7:40 AM EDT

Cowen and Company trims its price target on Market Perform-rated Seagate Technology (Nasdaq: STX) from $36 to $35 following a negative Q3 pre-announcement made on Wednesday night.

Analyst Karl Ackerman noted that Cowen was cutting estimates on Seagate following the news: We believe the company faced a number of intensifying headwinds through at least the first... More

Needham & Company Cuts Price Target on Seagate Technology (STX) Following Negative Preliminary 3Q Results

April 14, 2016 7:25 AM EDT

Needham & Company maintained a Buy rating on Seagate Technology (NASDAQ: STX), and cut the price target to $41.00 (from $47.00), following the company's preliminary 3Q results. STX negatively pre-announced results of ~$2.6B vs. $2.7B guidance (Street $2.7B) on ~39M units.

Analyst Richard Kugele commented, "Weak... More

Financial shares mint fifth day of gains; indexes close flat

April 14, 2016 7:22 AM EDT

By Lewis Krauskopf

(Reuters) - Wall Street was little changed on Thursday after two days of solid gains as investors digested the latest round of big bank earnings and financial shares kept bouncing back.

Bank of America Corp (NYSE: BAC) shares rose 2.5 percent, giving the biggest boost to the S&P 500, after the No. 2 U.S. bank by assets reported a slide in quarterly profit in line with expectations. Wells Fargo (NYSE: WFC) shares slipped 0.5 percent after the bank's quarterly report.

Financials , the worst... More

After-Hours Stock Movers 04/13: (WYNN) Higher; (EXXI) (PIR) (STX) Lower (more...)

April 13, 2016 6:11 PM EDT

Today's After-Hours Movers:

Energy XXI (NASDAQ: EXXI) 57% LOWER; said to plan bankruptcy filing as soon as Thursday, according to Bloomberg.

Pier 1 Imports (NYSE: PIR) 6% LOWER; reported Q4 EPS of... More

Western Digital (WDC) on Watch After Seagate (STX) Reports Prelim. Q3 Results

April 13, 2016 4:49 PM EDT

Western Digital (NASDAQ: WDC) shares were on watch post-market after peer Seagate Technology (NASDAQ: STX) reported preliminary Q3 results, with revenue coming in below consensus.

... More

Seagate Technology (STX) Trims Q3 Revenue Outlook; Boosts non-GAAP GM Expectations

April 13, 2016 4:46 PM EDT

Seagate Technology plc (NASDAQ: STX) announced selected preliminary financial information for its fiscal third quarter of 2016, which ended on April 1, 2016.

Seagate expects to report revenue of approximately $2.6 billion and non-GAAP gross margin of approximately 23% for the fiscal third quarter 2016. The Company expects to report HDD unit shipments of approximately 39 million, representing approximately 40% market share.

These preliminary results compare to the Companys previous forecast for fiscal third quarter 2016 of revenue of approximately $2.7 billion and non-GAAP gross margin of approximately 25.6%.

*** The Street was looking for Q3 revenue of $2.7 billion.

The... More

Deutsche Bank Downgrades Seagate Technology (STX) to Hold

April 13, 2016 6:53 AM EDT

Deutsche Bank downgraded Seagate Technology (NASDAQ: STX) from Buy to Hold with a price target of $35 (unchanged). Analyst Sherri Scribner thinks the HDD industry is transitioning from a unit-driven industry to a capacity-driven market.

"Given WDCs planned acquisition of SNDK, we... More