Seagate (STX) -5.4% and Western Digital (WDC) -3.7% following downgrades to Hold from...

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

Seagate (STX) -5.4% and Western Digital (WDC) -3.7% following downgrades to Hold from ThinkEquity. The firm says checks indicate emerging markets PC demand is weakening, and what's bad from the PC market is bad for the hard drive market. While commentary about soft U.S./Euro PC demand has been widespread, an emerging markets slowdown seems to be a wrinkle the market hasn't yet priced in.