Seagate Gets Used To Losses (STX, WDC)

Investing

Published: April 21, 2009 3:39 pm

Last Updated: April 28, 2020 4:29 am

burning-money-pic18 Seagate Technology (Nasdaq: STX) posted its fiscal third quarter earnings, with non-GAAP EPS coming in at -$0.56 EPS on $2.15 billion in revenues. Estimates from Thomson Reuters were -$0.45 EPS on $2.01 billion for the quarter. This will likely set the tone for Western Digital Corp. (NYSE: WDC) earnings this Thursday as well.

The leader in storage and drive devices now sees a return to profitability within its Fiscal-2010. We show that it ended the quarter with roughly $1.5 billion in cash and short-term liquidity investments.

The storage and disk drive leader also issued guidance at -$0.47 to -$0.37 non-GAAP EPS and put revenues at $1.9 to $2.2 billion. Thomson Reuters had those estimates at -$0.30 EPS and $1.98 billion in revenues.

Shares closed up over 3% at $6.67 and its 52-week trading range is $2.98 to $22.78. The initial trading has Seagate up marginally in after-hours trading.

Western Digital Corp. (NYSE: WDC) closed up over 2% at $21.68 and it reports earnings in two-days. We have not seen much activity there in the after-hours session. The difference between these two today is that Western Digital is still expected to remain profitable.

JON C. OGG

Travel Cards Are Getting Too Good To Ignore

Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.

We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.

It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.

We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.