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Western Digital Corporation (WDC)

  • Dec. 3, 2011, 10:45 AM
    "We're at an inflection point in history," says Loews' (L) savvy investment chief Joe Rosenberg, comparing today's equity market to Treasuries in the early 80s when he had trouble convincing folks to buy long bonds yielding 15%. One favorite is Microsoft (MSFT), a better buy by every metric than a recent purchase of Warren Buffett's. Among his other picks: JNJ, MRK. A pan: Treasuries, "in the final throes of one of the greatest bubbles I have ever seen."
  • Dec. 2, 2011, 10:04 AM
    Western Digital (WDC +13.1%) surges higher in the early going after raising its FQ2 sales outlook and painting a milder view of the impact of Thailand's flooding. Think Equity raises its rating to Buy and hikes its price target to $40 from $25: "WDC appears to be managing the crisis very effectively and hence appears unlikely to lose as much share as we had previously anticipated."
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  • Dec. 2, 2011, 9:55 AM
    Western Digital (WDC +12%) is taking off in the wake of its FQ2 guidance hike. However, top competitor Seagate (STX -1%) is underperforming, as the news leads investors to fear the benefits seen by the latter from the former's Thai troubles may not be as large as expected. Storage giants EMC (EMC +1.5%) and NetApp (NTAP +0.8%) are rising with the market.
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  • Dec. 2, 2011, 4:54 AM
    Western Digital (WDC) joins Seagate (STX) in signalling a recovery from the Thai floods, saying that it has restarted the output of hard disk drives and that it is raising its FQ2 rev outlook to at least $1.8B. That's above Street forecasts and prior guidance. WDC is also upbeat on margins but expects to take a charge of $225M-$275M. (PR)
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  • Nov. 29, 2011, 12:06 PM
    Seagate's (STX +3.8%) guidance hike, which includes optimistic shipment forecasts for the March quarter, is providing a lift to archrival Western Digital (WDC +4.4%), as well as flash memory vendors OCZ Technology (OCZ +5.7%) and Fusion-io (FIO +5.4%). Intel (INTC +1.4%), Nvidia (NVDA +1.1%), and AMD (AMD +2.1%) might also be getting a boost, given Seagate's importance to the PC industry.
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  • Nov. 23, 2011, 10:15 AM
    Seagate (STX) CEO Steve Luczo provides more bad news for the PC industry (I, II), courtesy of an interview with AllThingsD. As bad as Q4 is expected to be for hard drive shipments, Luczo predicts Q1 will be "much more difficult," and that supply won't match demand until the end of 2012. Moreover, Luczo claims many of the drives top rival WDC will ship will be low-end products, due to a lack of needed parts.
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  • Nov. 23, 2011, 9:27 AM
    Western Digital (WDC) gains 0.8% after its acquisition of Hitachi's (HIT) hard drive business is given a green light by EU regulators. In return for the go-ahead, Western Digital has agreed to sell a hard drive manufacturing plant and other "essential production assets." Archrival Seagate's (STX) purchase of Samsung's hard drive division was cleared in October. (yesterday)
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  • Nov. 21, 2011, 8:39 AM
    Western Digital (WDC) reports that it lost an arbitration case brought against it by rival Seagate Technology (STX). Execs with the firm say they will vigorously challenge the $525M award that stemmed from alleged misappropriation of confidential information and trade secrets. Premarket: STX -2.5%, WDC -0.8%.
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  • Nov. 17, 2011, 10:53 AM
    Unsurprisingly, some storage-related names are selling off following NetApp's (NTAP -11.7%) disappointing FQ2 report (I, II, III). EMC -2.6%. STX -1.4%. WDC -1.4%. LSI -1.8%. OCZ -3.9%. SNDK -2.6%. QTM -2.7%. (NTAP transcript)
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  • Nov. 16, 2011, 12:25 PM
    Western Digital (WDC +8.4%) jumps after Reuters reports that the EU plans to conditionally approve its bid to acquire Hitachi's (HIT -1.4%) hard disk drive business. Separately, the company also says it's inked a supply agreement with TDK for hard-disk-drive components starting in the first quarter, which should alleviate some of the production problems the company is experiencing due to  Thailand floods. 
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  • Nov. 16, 2011, 11:34 AM
    The PC industry's near-term sales may depend on the work of Thai navy divers, who are attempting to salvage Western Digital (WDC +3.2%) hard drive production gear submerged by floodwater. Western Digital is trading higher today, and rival Seagate (STX -2.9%) lower, on a Citi note claiming Dell's (DELL) FY12 outlook suggests a worst-case scenario for hard drive shortages will be avoided.
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  • Nov. 16, 2011, 9:00 AM
    Premarket leaders: TSRA +14%. WDC +4%.TGT +3%. BPAX +3%. VELT +3%.
    Losers: MFN -11%. ANF -7%. IDIX -6%. NBG -4%. DANG -3%. FRO -3%. RIO -3%. ALU -3%. AREX -3%. HBC -3%. AMR -3%.
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  • Nov. 15, 2011, 9:45 AM
    The disk-drive sector is hit by a pair of analyst downgrades: Deutsche Bank cuts Seagate (STX -2.8%) to Hold, after the stock rose 50% in the last three months; and Needham cuts Western Digital (WDC -3.1%) to Hold, on concerns the company's pending acquisition of Hitachi’s disk-drive business - if it goes through - could involve concessions that limit the benefits of the deal.
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  • Nov. 10, 2011, 8:17 PM
    The damage to the hard disk drive industry caused by the Thailand floods has been significant, according to IDC, and will have a direct impact on worldwide PC shipments through the first half of 2012. The technology research advisory says PC shipments may be curtailed by as much as 20% during the first three months of 2012.
  • Oct. 31, 2011, 5:14 PM
    IHS iSuppli provides some concrete estimates regarding the impact of Thai flooding on the hard drive production, and they aren't pretty. The firm predicts Q4 hard drive shipments will decline 27.7% Q/Q, to 125M, and that average prices will rise 10% as a result - good news for STX, not so much for archrival WDC.
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  • Oct. 28, 2011, 11:00 AM
    Acer becomes the first PC vendor to hike prices in response to the crippling of hard drive supplies by Thai flooding, and it's unlikely to be the last. Seagate (STX) is seen as a beneficiary of rival Western Digital's (WDC) flooding exposure, but PC industry players in general could take a hit if price hikes and supply shortages hurt already-weak PC demand.
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Company Description
Western Digital Corp is a developer, manufacturer & provider of data storage solutions that enable consumers, businesses, governments & other organizations to create, manage, experience & preserve digital content. Its product include; HDDs and SSDs.
Sector: Technology
Country: United States