Benchmark Upgrades Seagate Technology (STX) to Buy
- Wall St set to open lower as Meta Platforms, economic data weigh
- Meta shares dip on softer Q2 revenue guidance, elevated AI spending plans
- Oil steady as US demand concerns balance Middle East conflict risks
- Yen at multi-decade lows, dollar drops before US data
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
- Hasbro (HAS) brand strength sees earnings top expectations
- Meta Platforms (META) Tops Q1 EPS by 39c, Offers Guidance
- Seagate Technology (STX) Enters $600M Asset Purchase Agreement with Avago
- Crude Inventory Declined 6.4 Million Barrels Last Week
- Meta Platforms, IBM, Caterpillar fall premarket; American Airlines, Chipotle rise
- After-hours movers: Meta, Ford, IBM, ServiceNow and more
- Midday movers: Tesla, Boeing rise; Uber, Old Dominion Freight fall
- After-hours movers: Tesla, Texas Instruments, Seagate, Visa and more
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
Seagate Technology Announces Preliminary Financial Information for Fiscal First Quarter 2017
October 11, 2016 8:01 AM EDTCompany ships record exabyte capacity with average capacity per drive up 46% year-over-year
CUPERTINO, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (the Company) today announced selected preliminary financial information for its fiscal first quarter 2017, which ended on September 30, 2016. Seagate expects to report revenue of approximately $2.8 billion, and GAAP and non-GAAP gross margin of approximately 29%. The Company expects to report HDD exabyte shipments of approximately 67 exabytes, reflecting unit shipments of approximately 39 million and average capacity per drive of 1.7 terabytes.
These preliminary results compare to the Companys previous forecast for fiscal first quarter 2017 revenue of at least $2.7... More