A Surge At Seagate

Shares of Seagate Technology (SEG), which have been in the doldrums all year, sprang back to life in late October, bolting from 27 on Oct. 22 to 35 by Nov. 10. Part of the reason was the company's decision to repurchase 50 million shares--some 25% of the stock outstanding--on top of the 48 million shares it bought back last year. But that's not the only thing fueling Seagate's recent wave of strength.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.