Western Digital (WDC) -2.1% AH after warning it expects FQ1 (ends Sep. 28) revenue of $3.9B-$4B,...
Thursday, September 13, 2012, 6:37 PM ETWestern Digital (WDC) -2.1% AH after warning it expects FQ1 (ends Sep. 28) revenue of $3.9B-$4B, below prior guidance of $4.2B-$4.3B and a consensus of $4.33B. The company also forecasts the hard drive market will total 140M units in the quarter vs. prior guidance of 157M, no doubt due to poor PC demand. WDC is softening the blow by establishing a $0.25/share quarterly dividend (2.4% yield), and boosting its stock buyback program by $1.5B. STX -2.4%. LSI and MRVL down slightly.
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