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Western Digital Slips 2.7% as AI Storage Rally Cools After Record Cash and Guidance

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Western Digital Stock Outlook 2026: Analysts Weigh Buy or Sell

SAN JOSE, Calif. — Western Digital Corp. shares fell about 2.7% to $469.42 on Thursday, down $12.86 from Wednesday’s close, as investors locked in gains after a year that turned hard-disk drives into an AI trade.

The stock had finished Wednesday at $482.28 and Sept. 8 at $477.30. The 52-week range still runs from about $93 to nearly $800. After-hours prints around $466 on Thursday morning showed the same fade. Nothing in the company’s last official release changed overnight. The tape was digesting how far the story had already run.

That story is fiscal 2026. For the year ended July 3, Western Digital reported $12.92 billion of revenue, up 36% from $9.52 billion. Non-GAAP earnings more than doubled. Free cash flow was $3.51 billion, up 145%, a 27% margin on sales. The company returned $3.1 billion through dividends and buybacks and ended the year in a net cash position. Capital spending was $418 million.

The fourth quarter did the heavy lifting. Revenue was $3.75 billion, up 44% from a year earlier and above a $3.69 billion Street view. Non-GAAP earnings were $3.56 a share versus a $3.29 consensus. GAAP earnings were $8.21 a share. Non-GAAP gross margin reached 54.4%. Operating cash flow was $1.39 billion. Free cash flow was $1.28 billion, a 34% margin. The stock still dropped more than 5% in regular trading the day of the report and another 11% after hours, a classic sell-the-news print after a multi-hundred-percent climb.

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Chief Executive Irving Tan called it a year of “strong performance.” “In our fiscal fourth quarter, revenue increased 44% year over year, gross and operating margins expanded, and earnings per share more than doubled,” he said in the Aug. 5 release. “These results reflect our ability to scale innovation and operational excellence across our global organization, supporting our customers’ growing storage demand.” On the call he framed the demand as compounding, not cyclical. “While compute cycles can be reused, data compounds.” He said the largest AI platforms process “tens of billions of tokens per minute and billions of prompts per day.” “Today, roughly 80% of data stored in a hyperscale data center resides on hard disk drives. That is likely to continue.”

Chief Financial Officer Kris Sennesael pointed to cash. “Fiscal 2026 was an outstanding year for WD, characterized by broadening demand, deeper customer engagement, and disciplined execution across all end markets,” he said. “As the cloud and other data-intensive workloads continue to expand, we remain confident in the long-term growth trajectory of our business, further margin expansion, and strong free cash flow generation.” First-quarter fiscal 2027 guidance, at the midpoint: $4.1 billion of revenue plus or minus $100 million, non-GAAP gross margin of 55% to 56%, operating expenses of $390 million to $400 million, a 17% tax rate and non-GAAP earnings of $4.00 plus or minus 15 cents on about 388 million diluted shares. That implies 42% to 49% year-over-year sales growth.

The product roadmap is the other half of the premium. Management said 40-terabyte ePMR drives should be more than half of nearline exabytes by the third quarter of fiscal 2027. A 44-terabyte HAMR drive is slated to ship in the first half of calendar 2027, with 50-terabyte drives later that year. The long-term map now runs past 100 terabytes. Tan has said future exabyte growth should “consistently exceed 25%,” driven by training data, synthetic data and the feedback loop of physical AI. Long-term customer agreements now stretch toward 2029 and, in at least one hyperscale case, through 2031.

The board declared a 15-cent quarterly dividend payable Sept. 17 to holders of record Sept. 8. Management has said the capital-return formula is unchanged: excess free cash flow through dividends and buybacks, while spending on heads, media and automation rather than adding unit-capacity plants.

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Analyst targets published this week still span $428 to $900, with an average near $650. That spread is the argument in one line. Bears see a 19-times trailing multiple on a company that already printed 54% gross margin and a 34% free-cash-flow quarter, plus a stock that more than quintupled off last year’s low. Bulls see a scarce bit factory in a market where memory prices are tight, cloud capex is still rising and 80% of hyperscale bits still sit on spinning disks.

Thursday’s $469 print is closer to the post-earnings after-hours low than to the $519 close on report day. It is also still a multiple of the price that prevailed before AI storage became a ticker. Western Digital is no longer a turnaround. It is a capacity-constrained supplier asking investors to pay for visibility through the end of the decade. The 2.7% dip does not rewrite the guidance. It asks whether $4.00 of next-quarter earnings is already in the rearview mirror at $469.

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My 2 Favorite Income Engines From The AI Boom

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My 2 Favorite Income Engines From The AI Boom

This article was written by

Rida Morwa is a former investment and commercial Banker, with over 35 years of experience. He has been advising individual and institutional clients on high-yield investment strategies since 1991. Rida Morwa leads the Investing Group High Dividend Opportunities where he teams up with some of Seeking Alpha’s top income investing analysts. The service focuses on sustainable income through a variety of high yield investments with a targeted safe +9% yield. Features include: model portfolio with buy/sell alerts, preferred and baby bond portfolios for more conservative investors, vibrant and active chat with access to the service’s leaders, dividend and portfolio trackers, and regular market updates. The service philosophy focuses on community, education, and the belief that nobody should invest alone. Learn More.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of UTF, KRC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Beyond Saving, Philip Mause, and Hidden Opportunities, all are supporting contributors for High Dividend Opportunities. Any recommendation posted in this article is not indefinite. We closely monitor all of our positions. We issue Buy and Sell alerts on our recommendations, which are exclusive to our members.

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Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Redkite Solicitors expands with latest acquisition

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The Cardiff headquartered firm has acquired CLA Trust & Legacy Planning

Redkite Solicitors partner Helen Downes and chief executive Neil Walker.

Redkite Solicitors, one of the largest legal firms in Wales and the south-west of England, has further expanded via acquisition.

The Cardiff headquartered firm has acquired specialist firm of private client lawyers CLA Trust & Legacy Planning.

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The acquisition of the Cardiff firm, the value of which has not been disclosed, marks Redkite’s second acquisition within a year, following the addition of Penarth-based Alan Simons & Co.

In its last financial year Redkite reported improved revenues of £20.4m. The firm has doubled in size over the past five years and quadrupled over the past ten and now operates 19 offices with around 300 staff.

In May 2026, the firm appointed two new equity partners.

The acquisition of CLA Trust & Legacy Planning gives Redkite specialist in-house expertise in trusts, estates and succession planning, further deepening the firm’s expertise in wealth management and succession planning services.

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As part of the deal, CLA Trust & Legacy Planning director Helen Downes joins Redkite as partner and head of private wealth and succession planning.

Neil Walker, chief executive of Redkite, said:“This has been a strong year for Redkite, and this acquisition is a natural next step in that growth.

“Trust and legacy planning is an area where we’ve increasingly seen demand from our private clients, and until now we’ve not had the capacity to manage all that work within the firm. Bringing Helen and her team means we can offer that expertise directly, and we are delighted to welcome them both to the Redkite family.”

Ms Downes said: Our clients are central to everything we do, and their needs and aspirations guide our work. Redkite is the next natural step in furthering our mission.

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“I’ve long admired how Redkite has grown while staying rooted in the communities it serves.

“Being part of that, with the resources and reach it brings, is genuinely exciting.”

Redkite has 13 offices in Wales, including those in Brecon, Swansea , Carmarthen and Haverfordwest.

Its English offices, which total six, include those in Stroud, Cheltenham and Ledbury.

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From Oman to Tanzania: How the Iran war is redrawing India’s trade map

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From Oman to Tanzania: How the Iran war is redrawing India’s trade map
The conflict in West Asia is reshaping India’s trade flows in unexpected ways, triggering a dramatic reordering of both import sources and export destinations.

The most striking shift has been Oman’s emergence as a key trade partner. Ranked only 30th among India’s import sources in April-May 2025, the Gulf nation has jumped to 10th place in the first two months of the current financial year. Imports from Oman surged 3.8 times to $3.4 billion, largely driven by energy shipments.

The changes extend far beyond the Gulf. The UAE slipped to fourth place among India’s import partners, while Russia reclaimed the second spot, followed by the US. India’s search for alternative LPG supplies helped lift imports from the US, while purchases from Brazil rose 2.8 times to $2.7 billion. Imports from Peru climbed 3.7 times to more than $2 billion, making it India’s 20th-largest import source compared with 35th a year earlier.

Screenshot 2026-06-16 125017

Export patterns have also undergone a significant shift. Singapore overtook China and the Netherlands to become India’s third-largest export destination during April-May, trailing second-ranked UAE by just $180 million. Tanzania emerged as the eighth-largest destination for Indian exports, up from 25th place a year ago, while South Africa climbed to 10th.

According to Commerce Secretary Rajesh Agrawal, exports of oil products and gems and jewellery have driven Tanzania’s rise, with shipments increasing from $800 million in April-May last year to $2.2 billion this year. Exports to Sri Lanka nearly tripled to $1.8 billion, lifting the island nation to 12th place among India’s export markets.
Singapore’s rise has been fuelled largely by a 2.2-fold increase in imports of Indian petroleum products, with exports touching $5.1 billion. The island nation has been among the economies most affected by disruptions caused by the conflict in West Asia, helping it edge past China despite a more than 25% increase in Indian exports to the world’s second-largest economy.
The disruption of shipping routes through the Strait of Hormuz, the vital gateway to the Persian Gulf, has elevated Oman’s strategic importance. Agrawal said Oman, with which India recently operationalised a free trade agreement, has opened the ports of Sohar, Salalah and Duqm for the transit of Indian goods to destinations across the region, including the UAE.
These arrangements have helped India restore exports to West Asia to nearly last year’s levels. Imports from the region, however, remain around 18% lower due to ongoing disruptions in energy supplies.

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Nvidia On The Offensive

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Nvidia: Buy The Dip

Nvidia On The Offensive

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Scrubs & Beyond closing all brick-and-mortar stores nationwide

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Scrubs & Beyond closing all brick-and-mortar stores nationwide

A nationwide healthcare uniform retailer is shutting all of its brick-and-mortar retail stores, the company said.

A message on the Scrubs & Beyond website reads: “All Retail Stores Closing.” No other explanation was given.

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FILE – Scrubs & Beyond is closing all of its more than 100 retail stores across 30 states, with many locations holding going-out-of-business sales. (iStock / iStock)

The company sells nurse scrubs and uniforms from top brands, including its own Beyond Scrubs line.

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It has more than 100 stores across 30 states, the website states. 

Many of the stores are holding going-out-of-business sales with discounts ranging from 20% to 40% off all merchandise.

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A Scrubs & Beyond store

FILE – A Scrubs & Beyond store in Riverside, Calif. The healthcare uniform retailer said it will close all of its stores.  (Google Maps / Google Maps)

FOX Business has reached out to Scrubs & Beyond’s parent company, Kindthread, for comment.

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The Scottsdale, Arizona-based Kindthread acquired and relaunched the Scrubs & Beyond brand and stores in 2022, the Post Bulletin newspaper reported.

Scrubs & Beyond has been in business for more than 20 years. In that time, the company became the largest retailer of healthcare apparel and accessories in the country, the website states.

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patient getting shot

FILE – Scrubs & Beyond is shutting all of its retail stores nationwide after more than 20 years in business, though the reason for the closures remains unclear. (Getty Images)

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It is unclear how many employees will be impacted by the closings.

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Pipeline Operator Set to Switch Primary Listing to Texas

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Alphabet Is Selling 100-Year Debt as Part of a Big Bond Sale

Energy Transfer is set to be the first major company to switch its primary listing from New York to the Texas Stock Exchange, or TXSE, in a boost to the nascent exchange. Kelcy Warren, chairman of the $75 billion pipeline company, is a major backer of TXSE’s parent company. Read more:

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Yorkshire nursery group acquires four Lincolnshire sites

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South Yorkshire’s Granby Nurseries has boosted its portfolio from nine to 13 nurseries

Granby Nurseries is based out of Rotherham.

Two Town and Country Nursery settings in Market Rasen and Louth are among the businesses acquired by Granby Nurseries.(Image: Granby Nurseries)

A Rotherham-based nursery group has expanded into Lincolnshire with the acquisition of four sites.

Granby Nurseries agreed a deal for First Timers in Wellingore, Head Start Ramsey Nursery in Boston and two Town and Country Nursery settings in Market Rasen and Louth. Granby was itself acquired by Sipra Deb in 2022 and since then it has also expanded into nine settings across South Yorkshire and Nottinghamshire.

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Sipra Deb said: “This is a hugely significant milestone for our group. When I acquired Granby Nurseries, I already owned and operated four established settings through other companies. Since then, we have brought those businesses together as one wider group, grown our portfolio to nine settings and now, with this acquisition, to 13.

“I am incredibly proud of that journey and of the people whose commitment, hard work and belief have made our continued growth possible. First Timers, Head Start Ramsey Nursery and Town and Country Nurseries have each built excellent reputations within their local communities. Their values and commitment to children and families align closely with our own, making them a natural fit for our wider group.

“Our priority is to welcome and support the existing teams, preserve the individual identity and respected names of each nursery, and build upon the strong foundations already in place. This acquisition establishes a significant presence for us in Lincolnshire and gives the group an exciting platform for further sustainable growth.

“This deal would not have been possible without the collaborative and professional approach of everyone involved. We would like to thank all our advisers for their expertise and support in bringing the acquisition to a successful conclusion.”

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A team from Yorkshire law firm Ramsdens Solicitors led by corporate and commercial senior associate Emma Spragg, alongside legal assistant Claudia Devers, advised on the acquisition. Ramsdens supported the transaction through the negotiation of the complex interlinked share purchase agreements, the disclosure process and associated ancillary documentation and due diligence arrangements. They worked alongside David Amies from Ridley & Hall and Paul Farmer from Callidus Law.

Andrea David, a former owner of the acquired nurseries, said: “Selling a business is a significant and often complex process, but the Ramsdens team were approachable, responsive and reassuring at every stage. They took the time to understand our position and worked closely with us to make sure everything progressed as smoothly as possible.

“We would also like to wish the new owner, Sipra Deb, and the wider team every success for the future as they take the businesses forward and begin this exciting new chapter.”

Emma Spragg, senior associate at Ramsdens Solicitors, added: “Completing a deal of this nature requires close collaboration between all parties. It was brilliant to support the transaction through to a successful conclusion and to play a part in the continued growth of the group as it establishes a significant presence in Lincolnshire.

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“We would like to wish everyone involved every success as the businesses begin this exciting new chapter as part of the wider group.”

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Rogers to depart as Jupiter MD

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Rogers to depart as Jupiter MD

Brad Rogers has tendered his resignation as managing director of manganese producer Jupiter Mines.

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General Mills debuts ready-to-bake croissants

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General Mills debuts ready-to-bake croissants

MINNEAPOLIS — General Mills is adding ready-to-bake frozen croissants to its Pillsbury brand.

The frozen croissants are available in two varieties: butter Grands croissants and chocolate Grands croissants. The chocolate variety features a Belgian chocolate filling.

“More people want to recreate the quality and indulgence of a bakery experience at home but without the time and effort that traditionally comes with it,” said Maria Carolina Comings, vice president and business unit director for Pillsbury at General Mills.

The frozen croissants are available in an 8-count pack at retailers nationwide.

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Billionaire warns foreign adversaries will do anything to weaken Trump

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Billionaire warns foreign adversaries will do anything to weaken Trump

Billionaire businessman John Catsimatidis is warning that foreign adversaries will do “anything” to weaken President Donald Trump, while also voicing disappointment with Canadian Prime Minister Mark Carney.

Catsimatidis joined FOX Business’ Cheryl Casone on “Mornings with FOX Business” to discuss national security concerns on the 25th anniversary of the September 11 attacks, geopolitical tensions and what he sees as efforts to undermine President Trump.

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President Donald Trump

Billionaire John Catsimatidis warns foreign adversaries are trying to weaken President Donald Trump. (Kevin Dietsch / Getty Images)

“The evil empire, whether it’s Russia, North Korea, China, Iran, the evil empire will do anything to make sure that they cripple Trump in the November 3rd election,” Catsimatidis said.

The Red Apple Group chairman and CEO singled out Canada, saying he was disappointed in Carney despite describing the prime minister as someone he likes and considers smart.

“I think he [Carney] feels the same way, that they’re gonna be able to take a bigger advantage of the United States if Trump was crippled,” Catsimatidis said.

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Catsimatidis framed his concerns around Trump’s approach to business and international negotiations, arguing that the president’s dealmaking makes him a target for countries seeking an advantage over the United States.

CANADA’S 20% TARIFFS ON US GOODS LIKE MILK, STEEL AND GOLF CLUBS TAKE EFFECT

“He’s not only a president, he is a businessman,” Catsimatidis said.

Catsimatidis also reflected on the September 11 attacks, saying he lost four personal friends and a cousin that day. He warned that younger Americans have no personal memory of the attacks and argued that the country must remain vigilant.

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“I believe that our country is under attack and that if we don’t keep our eyes open, there’ll be another 9/11. New York is the target, Washington is the target, and we have to be extra careful,” he said.

ANTHROPIC SAYS IT BLOCKED POSSIBLE EFFORTS TO USE AI FOR BIOLOGICAL WEAPONS DEVELOPMENT, IRAN-LINKED CASES

Catsimatidis closed with another warning about threats facing the country.

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“November 3, help save America, because we’re under attack in so many directions,” Catsimatidis warned.

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