Seagate (STX) -5.9% AH after warning it expects FQ4 revenue of $4.5B, below a consensus of...

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

Seagate (STX) -5.9% AH after warning it expects FQ4 revenue of $4.5B, below a consensus of $4.9B. Gross margin is expected to be 33.6%, below prior guidance of at least 34.5%. The company blames a failure to achieve share gains due to a faster-than-expected industry recovery from Thai flooding, and a "supplier quality issue" that affected enterprise hard drive shipments by 1.5M. Several analysts issued cautious notes last week. WDC -4.5% in sympathy.