Seagate (STX) Jumps Higher on Positive Q2 Numbers; Western Digital (WDC) Sees Action

January 8, 2013 4:16 PM EST
Seagate Technology plc (Nasdaq: STX) shares popped higher in late trading Tuesday after the company preannounced certain expectations for its second-quarter 2013 report.

Revs were expected to be above $3.6 billion with gross margin above 27 percent. Seagate previously expected revs to hit $3.5 billion with margin somewhere between 27 percent and 32 percent.

The Street consensus was looking for revs of $3.53 billion. Current expectations peg EPS at $1.23 for the quarter.

Shares of Seagate are up 5 percent late while peer Western Digital (Nasdaq: WDC) is up 4 percent.

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