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Western Digital Corporation (WDC)

- NASDAQ
  • Oct. 24, 2013, 4:17 PM
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  • Aug. 29, 2013, 2:51 PM
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  • Jul. 25, 2013, 12:05 PM
    Buy the dip in Western Digital (WDC -6.2%) says FBN's Shebly Seyrafi, calling at least some of this morning's decline profit-taking, though he does worry the quarter's operating expenses came in higher than expected. Craig-Hallum's Christian Schwab downgrades to Sell, arguing there's no growth in the business. Needham's Rich Kugele reiterates his Strong Buy and $77 PT, noting outperformance on margins and earnings despite some handicaps. Seagate (STX -4.7%) slips with analysts suggesting there's been a slight share-shift to Western as Seagate avoided weak pricing in the PC market.
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  • Jul. 25, 2013, 9:15 AM
    Premarket gainers: FB +31%. BIDU +18%. TQNT +14%. TRIP +14%. LOGI +13%. OKE +10%. MEET +9%. CDTI +9%. BSX +9%. IMAX +8%. SPR +7%. FFIV +7%. UA +7%. YNDX +6%. ZNGA +6%. RENN +5%.
    Losers: SQNM -36%. CROX -24%. PHM -7%. SI -7%. WDC -5%.
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  • Jul. 24, 2013, 5:44 PM
    Western Digital (WDC) guides on its FQ4 call for FQ1 revenue of $3.7B-$3.8B and EPS of $1.95-$2.05, largely unfavorable to a consensus of $3.77B and $2.05. Shares now -5.9% AH. Seagate (STX) -2.1% in sympathy. In its quarterly fact sheet, WDC states its total hard drive shipments fell 16% Y/Y in FQ4 to 59.9M, as 27% and 24% drops in notebook and desktop drive shipments (over 2/3 of total shipments) offset consumer electronics and branded drive growth, and roughly flat enterprise shipments. WDC and STX both fell in regular trading thanks to Seagate's numbers (I, II, III).
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  • Jul. 24, 2013, 4:17 PM
    Western Digital (WDC): FQ4 EPS of $1.96 beats by $0.17. Revenue of $3.7B beats by $0.08B. (PR)
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  • Jul. 24, 2013, 10:57 AM
    Seagate (STX -8.7%) has guided on its CC for FQ1 revenue of $3.5B-$3.6B, in-line with a $3.56 consensus. Needham is pleased, and is reiterating Buys on Seagate and Western Digital (WDC -1.9%).  But as SA commenter alph124 observes, Seagate's declining cash flow in the face of slumping PC drive shipments has some investors worried. FQ4 free cash flow totaled $266M, well below net income of $447M, and operating cash flow fell to just $394M from $1.4B a year ago. Seagate has issued a new $2.5B buyback authorization, raising its available funds to $3.3B. But unless Seagate's buyback pace picks up, it'll be a while before those funds are use up. (Seagate's FQ4: I, II)
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  • Jul. 24, 2013, 9:51 AM
    Seagate (STX -5.4%) opens lower following its FQ4 report, and takes Western Digital (WDC -1.2%) down with it. Gross margin was 28%, +40 bps Q/Q and -560 bps Y/Y. PC drive shipments -5% Q/Q and -25% Y/Y to 34.7M. Client Non-Compute (consumer electronics, removable storage, etc.) -6% Q/Q and -3% Y/Y to 10.9M, and high-margin Enterprise Storage +9% Q/Q and -4% Y/Y to 8.2M (3.7M mission-critical drives, 4.5M near-line storage). Only $42M was spent on buybacks, down from $102M in FQ3. Average GB/drive was at 855, up from 842 in FQ3 and 692 in the year-ago period. Retail made up 11% of sales, up from 7% a year ago. (PR) (slides) (CFO comments)
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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