Western Digital Corp. (NYSE:WDC) gets downgraded by Bank of America to Neutral, explaining that WDC’s management’s remarks imply a weaker demand than was anticipated which in turn suggests that the hard drive industry “can’t have it both ways for much longer – pricing and margins at high levels, and expected strong demand.”. Meanwhile, Needham stays optimistic regarding both WDC and Seagate Technology (NASDAQ:STX), even though rivalry and less expensive flash memory are exerting huge downwards pressure on solid-state drives.
Goodyear Tire & Rubber Co. (NYSE:GT) completes its earnings conference call, with several comments made, such as the revelation that total miles driven increased for the last three months, and that the company sees certain European economies remaining volatile, with shrinking production. However, Goodyear does see upsides developing in the long term, with volumes in mature markets bouncing back, even with rising raw material costs at the same time.
Expedia Inc. (NASDAQ:EXPE) shares pop after reporting its impressive first quarter beat, for which its strong hotels bookings are credited. JPMorgan upgrades EXPE accordingly, but Deutsche Bank maintains its Hold, as it judges the firm’s management’s reiteration of its EBITDA forecast for the current year as “conservative in light of building momentum”. Also keeping a Hold is Benchmark, which thinks that growth will slow down in the second quarter. Shares of Priceline.com (NASDAQ:PCLN), Orbitz Worldwide (NYSE:OWW), TripAdvisor (TRIP), and TravelZoo, Inc.(NASDAQ:TZOO) move up in sympathy.
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