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Seagate Technology PLC (STX.O)

STX.O on Nasdaq

8 Dec 2016
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Latest Key Developments (Source: Significant Developments)

Seagate says expects to report revenue of about $2.8 bln in Q1
Tuesday, 11 Oct 2016 08:01am EDT 

Seagate Technology Plc : Says expects to report revenue of about $2.8 billion, and GAAP and non-GAAP gross margin of about 29 percent in Q1 . Says expects to report HDD exabyte shipments of about 67 exabytes in Q1 . Says prior forecast for fiscal Q1 2017 revenue was at least $2.7 billion and non-GAAP gross margin of at least 27 percent . Previous announced cost containment measures and restructuring actions continue to progress as planned . Seagate Technology says revenue, gross margin for quarter reflects better than expected demand for its high capacity enterprise HDD product portfolio .Q1 revenue view $2.74 billion -- Thomson Reuters I/B/E/S.  Full Article

Seagate Technology Q4 earnings per share $0.23
Tuesday, 2 Aug 2016 08:01am EDT 

Seagate Technology Plc : Q4 earnings per share $0.23 . Seagate technology reports fiscal fourth quarter and fiscal year 2016 financial results . Q4 revenue $2.7 billion .Q4 earnings per share view $0.60, revenue view $2.64 billion -- Thomson Reuters I/B/E/S.  Full Article

Seagate Technology to cut 1,600 jobs in restructuring plan
Wednesday, 29 Jun 2016 04:13pm EDT 

Seagate Technology Plc : Announced restructuring plan to reduce co's global headcount by approximately 1,600 employees or 3% of its global headcount . Company expects restructuring plan to essentially be completed by the end of the September 2016 quarter . On June 27, seagate technology plc committed to restructuring 'plan as part of co's previously announced efforts to reduce its cost structure . Savings generated from the restructuring activities will represent approximately $100 million in savings on an annual run rate basis . Restructuring is expected to result in total pretax charges of $62 million recorded primarily in fiscal fourth quarter of 2016 .Charges to consist primarily of employee termination costs generating cash outlays in september 2016 quarter.  Full Article

Seagate Technology appointed William Mosley as COO
Monday, 27 Jun 2016 04:07pm EDT 

Seagate Technology Plc :Appointed William Mosley to position of president and chief operating officer.  Full Article

Scam artists hit Seagate Technology PLC - CNBC - Reuters News
Sunday, 6 Mar 2016 11:30pm EST 

Seagate Technology PLC:A phishing email scam has forced data storage firm Seagate Technology to disclose private employee information. - CNBC.Tax information, including Social Security numbers and salaries, for all current and former U.S.-based employees was sent to an unauthorized third party last week, the Cupertino-based company told CNBC in an e-mailed statement."The information was sent by an employee who believed the phishing email was a legitimate internal company request...At this point, we have no information to suggest that employee data has been misused, but caution and vigilance are in order.".Seagate added that it had immediately notified the Internal Revenue Service (IRS), which is now actively investigating it along with federal law enforcement.Seagate also provided affected employees with a two-year membership to an identity theft protection service developed by Experian.Seagate said the IRS had immediately put a watch for fraudulent filings on all of the company's employees' accounts.  Full Article

Seagate Technology PLC appoints Chief Financial Officer
Wednesday, 21 Oct 2015 04:05pm EDT 

Seagate Technology PLC:Says David H. Morton, Jr has been promoted to executive vice president and chief financial officer. Patrick O'Malley, Seagate's current chief financial officer, will remain with the company as executive vice president.Both appointments are effective immediately and report to Seagate's chairman and chief executive officer, Steve Luczo.  Full Article

Seagate Technology PLC gives Q1 2016 revenue guidance
Thursday, 15 Oct 2015 08:00am EDT 

Seagate Technology PLC:Expects to report revenue of about $2.9 billion for Q1 2016.Says these preliminary results compare to the company's previously forecasted range for Q1 2016 of revenue of $2.9 billion to $3.1 billion.  Full Article

Seagate Technology PLC to cut 1,050 jobs worldwide - Reuters
Wednesday, 9 Sep 2015 08:00pm EDT 

Seagate Technology PLC:Seagate Technology Plc said it planned to cut 1,050 jobs, or 2 percent of its workforce, as part of a restructuring program - Reuters.The company said on Thursday it expected to save about $113 million annually from the restructuring and incur pretax charges of about $53 million - Reuters.  Full Article

Seagate Technology PLC to acquire Dot Hill Systems Corp
Tuesday, 18 Aug 2015 06:00pm EDT 

Seagate Technology PLC:Says all-cash transaction valued at $9.75 per share.Deal for about $694 million.Says the transaction reflects an enterprise value of about $645 million.Says expect the transaction to be accretive to non-GAAP earnings in fiscal 2016.Says transaction has been unanimously approved by Dot hill's board of directors.Expects to finance the transaction from existing cash balances and the transaction is not subject to any financing conditions.Says Perella Weinberg Partners served as financial advisor to Seagate in connection with the transaction.After completion of tender offer, co will acquire all remaining shares not tendered in tender offer through a second-step merger.Ays unit of Seagate will commence a tender offer for all of the outstanding shares of Dot Hill.  Full Article

Seagate Technology PLC declares dividend
Friday, 31 Jul 2015 08:00am EDT 

Seagate Technology PLC:Approves a quarterly cash dividend of $0.54 per share, which will be payable on Aug. 25 to shareholders of record as of the close of business on Aug. 11.  Full Article


No partner in sight, Twitter faces tough solo choices

SAN FRANCISCO/BOSTON The apparent lack of interest in Twitter Inc by potential suitors may force the social media company to consider a route anathema to aspiring tech startups: a major restructuring and cutting some its nearly 4,000 employees. | Video