Diamonds and Dogs
Tech is looking better. The chip stocks have been acting better. Now the storage makers are perking up. Western Digital (WDC) is up 4% back toward recent highs thanks to better guidance for the quarter. The company now expects its fourth quarter revenue to be approximately $3.46 billion, compared to an earlier forecast of $3.35 billion to $3.45 billion. The firm also raised its adjusted earnings forecast, hiking it to 72 cents a share, from a range of between 65 cents and 70 cents. The CEO said the company is going through a strategic and organizational transformation after recently acquiring SanDisk.
Aetna (AET), wish I hadn't met yeah. Aetna is down 4% today on news the Department of Justice has concerns about their proposed merger with Humana. Now Aetna needs to meet with the DOJ on Friday to get their proposed takeover back on track.