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

Susquehanna Downgrades Seagate Technology (STX) to Neutral

October 19, 2015 7:00 AM EDT

Susquehanna downgraded Seagate Technology (NASDAQ: STX) from Positive to Neutral with a price target of $45.00 (from $60.00).

Analyst Mehdi Hosseini commented, "We are downgrading shares of STX to Neutral on the heels of last week's Sep Q preannouncement, given the following key factors: 1) the delay in getting 8 TB Nearline drives to market has resulted in share loss (importantly, higher margin), with Mar Q being the earliest... More

Pacific Crest Downgrades Seagate Technology (STX) to Sector Weight

October 16, 2015 7:55 AM EDT

Pacific Crest downgraded Seagate Technology (NASDAQ: STX) from Overweight to Sector Weight.

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 $41.44 yesterday.

... More

Market Wrap: Expected Fed Rate Hike Delay Boosts Markets; Citi, Goldman Mixed in Q3; Seagate Cuts Outlook

October 15, 2015 5:26 PM EDT

Market wrap for October 15th

End of the Day: S&P 500 up 29.6 to 2,023.86; Dow Jones up 217.0 to 17,141.75; Nasdaq up 87.3 to 4,870.10

Market Brief: Markets rose Thursday amid speculation that a rate hike from the Fed could happen in 2015 amid ho-hum economic data out early. CPI fell 0.2 percent in September, which was flat with expectations, while empire manufacturing was -11.4 (versus -8 expected), and the Philly Fed index was -4.5 (expected at -2). Also, retail sales data out Wednesday showed a dip in... More

Notable 52-Week Highs and Lows 10/15: (FPRX) (NKE) High; (STX) (MTW) (GRMN) Low

October 15, 2015 3:26 PM EDT

52-Week High:Five Prime Therapeutics, Inc. (Nasdaq: FPRX) $28.48. Ahead of the opening bell, Bristol-Myers Squibb 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... More

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

October 15, 2015 1:01 PM EDT

RBC Capital reiterated an Outperform rating on Seagate Technology (NASDAQ: STX), and cut the price target to $47.00 (from $53.00), following september quarter's pre-announcement. While unit shipments were in-line, the gross margin expectation is well below prior expectations of 27%. STX anticipates revenue of $2.9B, 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