Brean Capital Remains Bullish on Seagate Technology (STX) Following June Pre-Announcement - PT to $35

Can Seagate (STX) Keep It's Big, Fat, Juicy Dividend After The Major Restructuring?

Yielding 10.5% based on last night's close, Seagate's (NYSE: STX) dividend yield signaled a major red flag as being too good to be true with fears of being cut. However, with last night's massive restructuring and solid revenue guidance fears of a dividend cut are... More

Pre-Open Stock Movers 07/12: (SAGE) (STX) (RRD) Higher; (CYTR) (IMPV) (VRSN) Lower (more...)

Today's Pre-Open Stock Movers

CytRx Corporation (NASDAQ: CYTR) 69.3% LOWER; announced the results of an analysis of its global, randomized, Phase 3 clinical trial of aldoxorubicin compared to investigator's choice therapy in patients with relapsed or refractory soft tissue sarcomas (STS).... For the current evaluation, the study did not show a significant difference between aldoxorubicin and investigator's choice therapy for PFS, with a median of 4.17 months and 4.04 months, respectively, for the study's primary endpoint (hazard ratio: 0.91).

Jefferies Remains Bullish on Seagate Technology (STX) Following 4Q Pre-Announcement

Jefferies reiterated a Buy rating and $26.00 price target on Seagate Technology (NASDAQ: STX) following the company's 4Q pre-announcement. STX pre-announced revenue of $2.65B, better than its $2.3B guidance, and the Street's $2.34B estimate. The improvement was driven by improved demand for HDD products, particularly... More

Seagate Technology (STX): One Good Quarter Doesn't Change The Bigger Picture - UBS

UBS analyst, John Roy, raised his price target on Seagate Technology (NASDAQ: STX) after Seagate pre-announced a solid ASP quarter, likely due to mix shifting to higher capacity drives. Average capacity/unit increased 50% YoY, much better than the 19% he was expecting. Units came in as we... More

S&P and Dow hit records as growth bets boost Wall Street

By Rodrigo Campos

NEW YORK (Reuters) - A broad rally lifted the S&P 500 and Dow industrials to record highs on Tuesday, with a sharp rebound in crude prices boosting energy shares, while the Nasdaq turned positive for the year.

Cyclical sectors like technology, materials and energy posted the largest gains on the S&P, backed by the view that the U.S. economy, despite a slow start to the year, is on solid footing.

Cyclicals are seen taking the lead in stocks for the rest of the year after utilities, telecoms and consumer... More

RBC Capital Raises Price Target on Seagate Technology (STX) Following June Pre-announcement

RBC Capital reiterated a Sector Perform rating on Seagate Technology (NASDAQ: STX), and raised the price target to $27.00 (from $24.00), following the company's positive June pre-announcement. Seagate anticipates revenue of $2.65B, non-GAAP gross margins of 25.8% on 37M units vs. previous guidance of $2.3B revenue and 22.7% gross margin. RBC... More

Mizuho Securities Reiterates Neutral on Seagate Technology (STX) Following June Pre-Announcement

Mizuho Securities maintained a Neutral rating and $23.00 price target on Seagate Technology (NASDAQ: STX) following the company's pre-announced June quarter. Management pre-announced revenue of $2.65B, well above the consensus estimates of $2.34B.

Analyst Vijay Rakesh commented, "STX pre-announced a strong JunQ after... More

Morgan Stanley Upgrades Seagate Technology (STX) to Equalweight

Morgan Stanley upgraded Seagate Technology (NASDAQ: STX) from Underweight to Equalweight with a price target of $27.00 (from $20.00).

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 $24.09 yesterday.

Cowen Lifts PT on Seagate (STX) to $26; Updates Ests Following Positive Q4 Preannouncement

Cowen and Company is lifting its price target on Market Perform-rated Seagate Technology (Nasdaq: STX) from $23 to $26 following positive preliniary Q4 results released Monday.

Analyst Karl Ackerman offered the following commentary late Monday: STXs unit guide implies some share loss during the Q, but we think this was concentrated in... More

Seagate (STX) volatility flat into guidance for Q4 and workforce reductions

Seagate Technology (NASDAQ: STX) is recently up $3.11 to $27.20 in the premarket after providing guidance for Q4 and announcing that it will reduce its workforce by 6,500 employees. July call option implied volatility is at 56, August is at 49; compared to its 52-week range of 29 to 63.

Seagate Technology (STX): Restructuring Confirms Dividend and Future EPS Growth - Needham

Needham & Company analyst, Richard Kugele, believes that with Seagate Technology (NASDAQ: STX) restructuring announcement last night, some of the major final pieces of Seagate 3.0 have fallen into place. The reduction of roughly 14% of the workforce (and a revised footprint for 35-40M quarterly... More

Seagate Technology (STX): Prelim Results Warrant a PT Increase But No Upgrade - Baird

Baird analyst, Jayson Noland, raised his price target on Seagate Technology (NASDAQ: STX) after the company reported decent preliminary results relative to soft expectations, citing outperformance in Enterprise HDDs. He views the cloud as a long-term opportunity but with some trepidation given recent pricing... More

Option volume flows

Stocks and options expected to be active: STX AA FAST CYTR IMPV XRX TSLA CSX JPM

Notable call activity cited July 11; AR SFM LOCK MPEL LMT TXT SGY WYN BHI FSM

Notable put activity cited July 11; LMT VGK CYTR DATA ACAS PIR SAGE ADS SO POST TSL

After-Hours Stock Movers 07/11: (STX) (BDSI) (AA) Higher; (CYTR) (IMPV) (VOXX) Lower (more...)

Today's After-Hours Movers

CytRx Corporation (NASDAQ: CYTR) 64% LOWER; announced the results of an analysis of its global, randomized, Phase 3 clinical trial of aldoxorubicin compared to investigator's choice therapy in patients with relapsed or refractory soft tissue sarcomas (STS).... For the current evaluation, the study did not show a significant difference between aldoxorubicin and investigator's choice therapy for PFS, with a median of 4.17 months and 4.04 months, respectively, for the study's primary endpoint (hazard ratio: 0.91).

Seagate Technology plc (NASDAQ: STX) 13.2% HIGHER;... More

Western Digital (WDC) Trades Higher in Sympathy with Seagate (STX)

Western Digital (NASDAQ: WDC) traded higher post-market Monday after Seagate Technology (NASDAQ: STX) reported strong preliminary Q4 revenue and non-GAAP gross margin. Shares of WDC advanced roughly 4%, while Seagate climbed over 13%.

Seagate Technology (STX) Prelim. Q4 Revenue Tops Views; to Cut Headcount by 6,500

Seagate Technology plc (NASDAQ: STX) (the Company) today announced selected preliminary financial information for its fiscal fourth quarter and year- end 2016, which ended on July 1, 2016. Seagate expects to report revenue of approximately $2.65 billion, gross margin of 25% and non-GAAP gross margin of approximately 25.8% for the fiscal fourth quarter 2016. The Company expects to report HDD unit shipments of approximately 37 million, reflecting approximately 62 exabytes, average capacity per drive of 1.7 terabytes and average selling price per unit of $67 for the fiscal fourth quarter 2016.

(Street sees Q4 revenue of $2.34B)

These preliminary results compare to the Companys previous... More