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Technology Stocks : Seagate Technology

STX 255.88

-4.6%

Oct 31 4:00 PM EDT

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From: Sam	10/22/2015 3:13:28 PM
	of 7841

Seagate +4.8%; China gives green light to integrate Samsung unit Shortly after giving Western Digital the go-ahead to integrate Hitachi's former hard drive unit with its core operations, China's Ministry of Commerce has given Seagate (NASDAQ: STX) approval to do the same with what used to be Samsung's hard drive unit (acquired in 2011). The only remaining conditions: Seagate can't require customers to exclusively buy from the company, and TDK China can't be forced to sell hard drive heads exclusively to Seagate. Among other things, integration enables Seagate to achieve greater manufacturing scale, remove duplicate functions, and jointly source components from suppliers. Shares are up sharply on a day the Nasdaq is up 1.4%. Yesterday: Seagate makes CFO change \| 2:48 PM

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