Seagate (STX +15.8%) soars to levels not seen since 2007 after beating FQ2 estimates and guiding...

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

Seagate (STX +15.8%) soars to levels not seen since 2007 after beating FQ2 estimates and guiding for strong 2012 growth. Helping matters is an upgrade to Buy from Stifel, which asserts Seagate is benefiting from "positive structural changes" in the hard drive industry, such as consolidation and slowing density growth, rather than just its relative immunity to Thailand's floods. WDC +5.1% in sympathy. (transcript)