ADVFN - Advanced Financial Network.
HOME» NYSE » W » WDC Stock Price » WDC Stock News

Western Digital Share News

 Western Digital Corp. Stock Price
WDC Stock Price
 Western Digital Corp. Stock Chart
WDC Stock Chart
 Western Digital Corp. Stock News
WDC Stock News
 Western Digital Corp. Company Information
WDC Company Information
 Western Digital Corp. Stock Trades
WDC Stock Trades

TECH STOCKS: NetApp Losses Lead Big Tech Slump

By Rex Crum, MarketWatch SAN FRANCISCO (MarketWatch) -- Big declines from NetApp Inc. highlighted a swath of losses across the tech sector Thursday, sending nearly every major tech stock into the red and putting even more pressure on Hewlett-Packard Co. and its upcoming quarterly earnings report. The losses helped drag down the Nasdaq Composite Index (RIXF) by 116 points, or 4.6%, to 2,395. The Philadelphia Semiconductor Index (SOX) was down by more than 5% and the Morgan Stanley High Tech 35 Index (MSH) gave up 6%. NetApp (NTAP) shares plunged by $8.10, or 19%, to $33.79 after the data-storage technology company gave a disappointing quarterly report and outlook. Late Wednesday, NetApp reported a fiscal first-quarter profit of $139.5 million, or 34 cents a share, compared with a profit of $150.7 million, or 40 cents a share, for the same period a year ago. Revenue rose to $1.46 billion from last year's sales of $1.15 billion. Excluding one-time items, NetApp would have earned 55 cents a share, which met the forecast of analysts surveyed by FactSet Research, who also pegged NetApp's quarterly revenue at $1.5 billion. Steve Gomo, NetApp's outgoing chief financial officer, said the company saw a "dramatic slowdown" in sales during July. NetApp also gave a second-quarter forecast that fell short of analysts' estimates. With NetApp in the lead, other data-storage company's shares also retreated. NetApp's biggest rival, EMC Corp. (EMC), was down by $2.38 a share, or 10.5%, at $20.13, hard disk-drive makers Seagate Technology (STX) fell 9.6% and Western Digital Corp. (WDC) was off by 9%, Brocade Communications Systems Inc. (BRCD) ga ve up 8% and electronics contract manufacturer Jabil Circuit Inc. (JBL) saw its shares fall by 11%. Dell Inc. (DELL) gave up 4.6% to fall to $13.55 after shedding 10% on Wednesday on reaction to the PC company cutting its full-year forecast. H-P (HPQ), which is set to report quarterly results after the market close, fell $2.39 a share, or 7.6%, to $29.02.

Stock News for Western Digital (WDC)
DateTimeHeadline
04/22/201510:25:02Goodbye to the Messed-Up Expectations Portfolio
04/13/201504:58:57Taking A Financial Mulligan With Dividend Investing
04/09/201518:03:54PC sales fall sharply in Q1
04/07/201508:05:023 Cheap Dividend Stocks You Can Buy Right Now
04/06/201512:43:00SanDisk up 4% following Western Digital M&A speculation
04/02/201502:40:47First Quarter Large Cap Winners And Losers
03/31/201506:31:22Let Neurocrine Biosciences Cool Off - Cramer's Lightning Round...
03/13/201503:21:00More signs of weakening PC demand
03/07/201515:26:39Server/storage sales grow in Q4, but many industry leaders lose...

Western Digital and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad