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Seagate Raises Estimates But Halts Dividend Payout
Shares of Seagate Technology(STX Quote) are down nearly 7%, despite the company announcing it expects fiscal third-quarter sales to surpass its earlier forecast.
Third-quarter sales are expected to be about $2.1 billion, exceeding the earlier forecast of $1.6 billion to $2 billion. For the fourth quarter, the company expects revenue in the range of $1.9 billion to $2.2 billion, above the consensus for $1.86 billion. ...
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