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Technology Stocks : Seagate Technology
STX 278.47+1.0%Nov 6 4:00 PM EST
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From: duedilly9/11/2006 2:22:40 PM
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Neff on STX STX 10-K reveals easing of media constraints, upcoming lock-up expirations. Echoing recent comments by KOMG, STX -- in its 10-K filing issued today -- noted that there is now "adequate media capacity planned or in place to meet industry demand." STX added that there is continued tightness in glass substrate while aluminum substrate capacity remains at very high capacity utilization and supply could to be very tight until the end of 2006. Regarding the lock-up expiration for the 100 million shares distributed by New SAC, STX noted that the two remaining quarterly distributions of 25 million shares each will become eligible for resale on October 21, 2006 and January 3, 2007 -- two prior distributions became eligible for resale on May 16, 2006 and July 26, 2006. Stock impact: negative for STX, WDC, KOMG (media constraints easing at the margin).
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