Western Digital (WDC) Tops Q1 EPS by 15c
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October 30, 2023 8:34 AM EDT
(Updated - October 30, 2023 9:09 AM EDT)
Western Digital (NASDAQ: WDC) shares surged more than 13% premarket Monday after the company announced it would split its HDD and Flash businesses. The company also reported earnings, which topped consensus expectations.
The news of the split up of WDC's HDD and Flash businesses comes days after talks of a merger with Japan's Kioxia stalled. The company said it will create two... More
October 30, 2023 8:00 AM EDT
Western Digital Corp. (NASDAQ: WDC) (Western Digital or the Company) today announced its Board of Directors has unanimously approved a plan to separate its HDD and Flash businesses. Creating two independent, public companies with market-specific, strategic focus, the companys separation will better position each franchise to execute innovative technology and product development, capitalize on unique growth opportunities, extend respective leadership positions, and operate more efficiently with distinct capital structures. The transaction also provides strategic optionality for both businesses. The separation is intended to be structured in a tax-free manner and is targeted for the second half... More
