SodaStream, Vitamin Shoppe news and quoted added in this update.NEW YORK ( TheStreet) -- Seagate Technology ( STX) was the big loser in after-hours action on Monday after the Irish hard drive maker terminated buyout talks with private equity firms.
The company said it ended the discussions with the undisclosed firms because "the indications of the valuation range were not in the best interest of the company and its shareholders." The company first disclosed its receipt of an indication of interest in mid-October.
The stock was last quoted at $13.1,4 down 5.9%, on volume of nearly 5 million, according to Nasdaq.com. The shares closed at $12.69 on Oct. 14 just prior to the company's acknowledgment of the potential going-private transaction. Softening the blow a bit was news that Seagate's board has approved the buyback of up to $2 billion worth of the company's common stock. In addition, the company forecast revenue of at least $2.7 billion for the December-ending quarter along with a gross margin of at least 19.5%. That revenue view is roughly in line with the current average estimate of analysts polled by Thomson Reuters. Shares of fellow hard drive maker Western Digital ( WDC) slipped 1% to $33.36 on volume of around 405,000 after the close.