Seeking Alpha

Seagate (STX -3.1%) falls to levels last seen in July after missing FQ1 estimates and guiding on...

Seagate (STX -3.1%) falls to levels last seen in July after missing FQ1 estimates and guiding on its earnings call for FQ2 revenue of $3.5B, below a $3.9B consensus. The FQ1 miss occurred even though Seagate spent $669M to buy back 20.5M shares. Altogether, the company redeemed 17% of its outstanding shares in the 9 months ending Sep. 28. Seagate estimates industry hard drive shipments totaled 139M in FQ1, -11% Q/Q and -21% Y/Y. Western Digital (WDC) is nearly unchanged. (management comments - PDF) (WDC forecast: I, II)
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|