Seagate Tumbles After Sales Forecast Trails Estimates
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Seagate Technology Plc, a maker of disk drives, plunged 7.7 percent after projecting quarterly revenue that trailed analysts’ estimates.
Revenue in Seagate’s fiscal third quarter will be “at least” $3.45 billion, executives said today on a conference call. Analysts had forecast $3.59 billion, the average of estimates compiled by Bloomberg.