Seagate Earnings Won’t Meet Expectations

Seagate Technology Inc. said its earnings will be below target in the fiscal fourth quarter because of weak demand and falling prices for its computer disk drives, a trend it expects to continue into the first quarter. Seagate said earnings will be 32 cents to 37 cents a share for the latest quarter. Analysts had expected 49 cents, the average estimate in a survey by First Call Corp.