Seagate, Western Digital Slump After Weak Earnings ResultsBy
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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