RBC Capital Cuts Price Target on Seagate Technology (STX) Following Quarterly Pre-Announcement

UBS Cuts Price Target on Seagate Technology (STX) to $34 Following Negative Pre-Announcement

October 19, 2015 9:46 AM EDT

UBS reiterated a Sell rating on Seagate Technology (NASDAQ: STX), and cut the price target to $34.00 (from $36.00), following a negative 1Q16 pre-announcement.

Analyst John Roy commented, "After the negative preannouncement the question of the day was, why that big of a gross... More

Unusual 11 Mid-Day Movers 10/15: (FPRX) (AFMD) (DXCM) Higher; (IMPR) (VAC) (ACST) Lower

October 15, 2015 12:54 PM EDT

Five Prime Therapeutics, Inc.(Nasdaq: FPRX) 63.0% HIGHER; Bristol-Myers Squibb Company and Five Prime Therapeutics announced that they have entered into an exclusive worldwide license and collaboration agreement for the development and commercialization of Five Primes colony stimulating factor 1 receptor (CSF1R) antibody program, including FPA008 which is in Phase 1 development for immunology and oncology indications. This agreement replaces the companies existing clinical collaboration agreement to evaluate the safety, tolerability and preliminary efficacy of combining Opdivo (nivolumab), Bristol-Myers Squibbs programmed-death 1 (PD-1) immune checkpoint inhibitor, with FPA008 in six tumor... More

Seagate (STX) Warning Could Mean Share Gains for Western Digital (WDC) - Goldman Sachs

October 15, 2015 12:18 PM EDT

Western Digital (NASDAQ: WDC) is stabilizing mid-day after morning weakness on the back of a warning from rival Seagate... More

Streetinsider.com's Hot Lunchtime Reads 10/15: (UA) (VTL) (DG) (STX)

October 15, 2015 12:12 PM EDT

The following is a list of notable articles to help get you through the lunch hour:Turing Pharma's Shkreli Calls Vital Therapies (VTL) 'Worthless' ->... More

Needham & Company Downgrades Seagate Technology (STX) to Buy

October 15, 2015 11:18 AM EDT

Needham & Company downgraded Seagate Technology (NASDAQ: STX) from Strong Buy to Buy with a price target of $50.00 (from $65.00).

Analyst Richard Kugele commented, "Despite the overall September quarter TAM being above guidance, high-capacity drives were the culprit behind the negative pre-announcement. Datacenter and cloud... More

Pre-Open Stock Movers 10/15: (FPRX) (BOFI) (DXCM) Higher; (IMPR) (MTW) (VRX) (STX) (GRMN) (HCA) (NFLX) Lower (more...)

October 15, 2015 9:31 AM EDT

Five Prime Therapeutics, Inc.(Nasdaq: FPRX) 70% HIGHER; Bristol-Myers Squibb Company (NYSE:... More

Stifel Keeps Seagate (STX) as 'Hold' Following Prelim Q1 Results; Sees Western Digital (WDC) Outperforming

October 15, 2015 9:09 AM EDT

Stifel affirms Seagate (Nasdaq: STX) at Hold following preliminary Q1 results issued on Thursday morning.

Analyst Aaron C. Rakers made the following observations:

Quick Math: based on the above would leave us to consider a F1Q16 non-GAAP EPS in the range of $0.45-$0.50/sh. versus our prior $0.87/sh. estimate (street: $0.85/sh.). Seagate attributed its weaker F1Q16 gross margin to lower-than-expected intra-quarter demand for the companys 4TB... More

Seagate Technology (STX) Cuts Q1 Revenue, Gross Margin Outlook

October 15, 2015 8:02 AM EDT

Seagate Technology (NASDAQ: STX) announced selected preliminary financial information for its fiscal first quarter of 2016, which ended on October 2, 2015.

Seagate expects to report revenue of approximately $2.9 billion and non-GAAP gross margin of approximately 24% for the fiscal first quarter 2016. The Company expects to report unit shipments for the fiscal first quarter of approximately 47 million and maintaining approximately 40% market share.

*** The Street sees Q1 revenue of $3.03 billion.

These preliminary results compare to the Companys previously forecasted range for fiscal first quarter of... More

Barclays Starts Seagate Technology (STX) at Equalweight

October 14, 2015 4:53 PM EDT

Barclays initiated coverage on Seagate Technology (NASDAQ: STX) with an Equalweight rating and a price target of $52.00.

For an analyst ratings summary and ratings history on Seagate Technology click here. For more ratings news on Seagate Technology click here.

Shares of Seagate Technology closed at $48.62 yesterday.

... More

UBS Expects a Tough Quarter for Enterprise Hardware: (IBM), (AKAM), (RAX), (STX) and (WDC)

October 14, 2015 10:04 AM EDT

UBS analyst Steven Milunovich today previewed the upcoming earnings season for IT Hardware stocks:

On IBM (NYSE: IBM), UBS is in line with consensus at revenue of $19.8bn and EPS of $3.30. Third quarters have been tough in software the last couple years and they look for software to be down 8%.... More