Seagate, Western Digital Slump After Weak Earnings Results

  • Results squeezed by lower demand for PCs and newer technology
  • Seagate seeking to reduce `cost structure,' CFO says on call

Seagate Technology Plc and Western Digital Corp. shares slumped Friday after the storage companies reported results and gave predictions that fell short of analysts’ estimates. The results highlighted continued struggles to overcome declining PC demand and attempts to adapt to shifts in the way big companies store data.

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