Wednesday's Winners and Losers: InterDigital

Hard-drive maker Western Digital(WDC Quote) gained 7.8% after raising its second-quarter financial outlook citing strong demand, stable pricing and low inventories.

The company guided for earnings of $1.02 to $1.06 a share, excluding one-time items, on revenue of $2.03 billion to $2.08 billion in the second quarter. Analysts polled by Thomson Financial were looking for earnings of 77 cents a share on revenue of $1.9 billion. Western Digital was up $2.19 to $30.42.

Seagate(STX Quote), which also makes hard drives, rose $1.55, or 6.1%, to $27.15.

Shares of Comcast(CMCSA Quote) fell 8.7% after the company cut its revenue outlook and forecast higher expenses for the year.

Comcast said late Tuesday that an increasingly challenging economic and competitive environment means its revenue for 2007 will increase approximately 11%, compared with previous guidance of at least 12%, while cable operating cash flow growth will be approximately 13% compared to its previous guidance of at least 14%. Comcast fell $1.81 to $18.92.

Genentech(DNA Quote) came up one vote short of a regulatory drug recommendation, and other health stocks spattered business news Wednesday.

The much-anticipated Food and Drug Administration advisory panel reviewing Genentech's Avastin for use with chemotherapy in breast cancer patients, voted 5-to-4 to recommend the FDA not approve Avastin, which is already approved for colon and non-small-cell lung cancer, for this use. Shares fell $6.58, or 9%, to $66.20.