Western Digital’s Slide
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IRVINE — Western Digital Corp.’s stock, which slumped 22% Friday after the company said it will post lower-than-expected quarterly earnings, retreated again Monday.
The shares fell 8%, or $1.88, to $21.75 on the New York Stock Exchange. During the day, Needham & Co. said it downgraded the stock to hold from buy.
The stock tumbled $6.63 a share Friday after the computer disk drive maker said its earnings for the second fiscal quarter will fall far below Wall Street expectations because of price-cutting throughout the industry.
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