- TheStreet.com•16 hours ago
Western Digital (WDC) stock continues to retreat on Friday afternoon after reporting disappointing guidance on Thursday, despite also posting a fiscal 2016 fourth quarter results beat.
- Barrons.com•19 hours ago
Shares of hard drive and flash memory chip maker Western Digital (WDC) are down $5.24, or almost 10%, at $48.45, after the company yesterday afternoon slightly beat its own pre-announced fiscal Q4 numbers, but then turned in an outlook for this quarter’s profit that disappointed, sending its shares into a tailspin in late trading. This was the first quarter in which the company took possession of NAND flash memory chip maker SanDisk, and so it included some results from a partial quarter of ownership, and the first full quarter of costs and proceeds from SanDisk. The cost concern reflects uncertainty over whether Western can get the kind of structure in place that produces the profit from this deal that investors want.
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