On this episode of Stock Movers:
Seagate (STX; +7%) -- computer hardware company
- Trading volume rises to more than quadruple its 20-day average, according to Bloomberg data
- Price target increased to $215 from $170 at Bank of America
- End-August: Bloomberg Intelligence sees 16% sales growth for fiscal 2026, citing favorable cloud dynamics due to new data-center deployments, as well as AI catalysts
Western Digital (WDC; +5%) -- digital content collection and storage
- Up 10 days, longest winning streak since July 2019
- trading volume doubles fromt he 20-day average for this time of day
- Price target raised to $115 from $85 at Benchmark
- Last week: Bloomberg Intelligence sees 17% sales growth in fiscal 2026, and margin expansion may spur EPS about 2% above consensus; long-term pacts give the company at least a year of sales visibility
Corteva (CTVA; -4%) -- $50 billion agribusiness giant formed after the 2017 merger of Dow Chemical and DuPont; among the world’s largest suppliers of genetically modified corn and soybean seeds, as well as pesticides
- The Wall Street Journal reported on Friday that it's considering separating its seed and pesticide businesses
- Bloomberg Intelligence: a split “would undermine product and financial logic” because that would take it further away from the "farming-as-a-service" model that a lot of its competitors are espousing
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