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Breaking News

BREAKING NEWS / URGENT: The State Supreme Court upholds Act 10, Voter ID, and the state's domestic partnership registry

MADISON, Wis (WSAU)  - The Wisconsin State Supreme Court upheld Act 10, the state law that limits the collective bargaining rights of state employees. The law from three years ago sparked protests at the state capital and led to the recall attempt against Governor Scott Walker. The court's ruling in favor of Act 10 was 5-2. Justice Michael Gableman wrote the lead opinion, which was also signed by Justices David Prosser, Pat Roggensack and Annette Ziegler. Justice Patrick Crooks concurre...

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Seagate expects second-quarter revenue above its forecast

(Reuters) - Hard drive maker Seagate Technology Plc said it expects to report higher second-quarter revenue than its previous forecast, sending its shares up 9 percent.

Seagate, which been struggling with weak PC sales like rival Western Digital Corp, shipped nearly 58 million hard drives in the quarter ended December 28, in-line with first-quarter shipments.

Analysts expected Seagate and Western Digital, who together control over 90 percent of the market, to ship lower number of drives as the industry battles a slower Windows 8 adoption and falling investment in technology by businesses.

Seagate said on Tuesday that it now expects at least $3.6 billion in revenue, higher than its previous forecast of about $3.5 billion.

Analysts were expecting $3.53 billion in revenue, according to Thomson Reuters I/B/E/S.

Cupertino, California based-Seagate estimated second-quarter gross margin of more than 27 percent. The company expected second-quarter gross margin at the low-end of its long-term target, or about 27 percent, on falling average selling price.

The company's shares were up 2 percent at $32.12 in extended trade, after closing at $31.39 on the Nasdaq on Tuesday. They touched a high of $34.50.

(Reporting by Himank Sharma in Bangalore; Editing by Sriraj Kalluvila)