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Seagate Slammed By Margin Concerns, Rare Earths Prices

by User Not Found | Jul 21, 2011
Shares of hard disk drive maker Seagate Technology (NASDAQ: STX - News) are plunging 17% after the company said rising rare earths prices will result in a 200-basis point margin headwind in the second half of this year. California-based rival Western Digital (NYSE: WDC - News), which reports earnings after the close of U.S. markets today, is following suit with a decline of 8%.

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