Seagate (STX) +1.9% AH after stating it expects to report FQ2 (Dec. quarter) revenue of at least...

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

Seagate (STX) +1.9% AH after stating it expects to report FQ2 (Dec. quarter) revenue of at least $3.6B, above prior guidance of $3.5B and a consensus of $3.53B. Gross margin is expected to come in at 27%, down from FQ1's 28.4%. Seagate adds it bought back a whopping 30M shares in the quarter; it repurchased 20.5M shares in FQ1, and 139M in the whole of calendar 2012. WDC +2.4%. LSI +1.2%. MRVL +0.8%. Seagate's recent rally seems to be tempering the market's enthusiasm. (PR)