Seagate (STX) jumps 6.1% AH after stating it expects FQ2 (ended in December) revenue of...

|About: Seagate Technology (STX)|By:, SA News Editor

Seagate (STX) jumps 6.1% AH after stating it expects FQ2 (ended in December) revenue of $3.1B-$3.2B and FQ3 revenue of $4.2B-$4.5B, well above consensus estimates of $2.8B and $3.6B, respectively. Gross margins are also expected to surge. Seagate was expected to profit handsomely from its minimal exposure to the hard drive industry disruptions caused by Thai flooding; now we know how much. WDC +2.3%