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Seagate Technology. (NASDAQ:STX) and Western Digital (NYSE:WDC) shares might see pressure as consensus estimates start to move down, says JPMorgan, which reduced its Q2 hard disk drive division forecast for Seagate to 162.1M from 164.7M to mirror research that hints at ever-slowing sell-in activity. JPMorgan promotes holding back until both companies come forward with earnings later this summer.
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Alcoa, Inc. (NYSE:AA): Dahlman Rose reduced Alcoa Q2 estimates to evidence lower LME aluminum prices, which are pressuring the upstream business. Dahlman Rose thinks Alcoa consensus estimates are elevated and will need to lower. Shares are rated Buy with a $14.65 price target.
VMware, Inc.‘s (NYSE:VMW) deal to purchase cloud automation solutions supplier DynamicOps has prompted Wells Fargo to state that the acquisition responds to a competitive threat to VMware from Microsoft (NASDAQ:MSFT). Wells Fargo sticks to an Outperform rating on the company.
Riverbed Technology, Inc. (NASDAQ:RVBD): ThinkEquity lowered its target on Riverbed due to belief that the European debt crisis might have provided a notable headwind for the company in Q2. But the firm continues to be positive about Riverbed’s 2H12 forecast and reiterates a Buy rating on the shares.
Photronics Inc. (NASDAQ:PLAB): Following Micron’s (NASDAQ:MU) deal to purchase Elpida, Stifel Nicolaus thinks Photronics will get a new revenue stream from the latter company due to Micron transitioning the Japanese company to a new DRAM node. Stifel Nicolaus holds to an $11 target ant Buy rating for Photronics.
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