- Friedman Billings thinks that Xyratex (NASDAQ:XRTX) that is scheduled to report after the close tonight will produce very nice results and guidance. Following STX's capex spending plan update at its analyst day earlier this month, firm considers it likely that XRTX will provide Aug qtr guidance well above current Street estimates when it reports today. Beyond the Aug qtr, firm believes the outlook for Seagate Tech (NYSE:STX) investment in XRTX gear may be meaningfully better than what is currently reflected in Street ests well into 2007 and, by that time, firm also expects Hitachi's disk drive test business with XRTX to begin ramping significantly. Reits Outperform.
Notablecalls: Looks like a legit call. FBR has been dead right on XRTX lately. Would be long into earnings tonight.
Notablecalls: Looks like a legit call. FBR has been dead right on XRTX lately. Would be long into earnings tonight.
2 comments:
I have been reading your blog with interest. I hope that I am able to learn something here. I guess I should have bought xrtx like I was going to yesterday. Oh well, woulda coulda shoulda.
Chicpope,
XRTX is actually trading down 1pt in after hours trading. The qtr was about in-lne but the guidance for Q3 was huge, just huge. I guess some momo accounts were leaning too much on the long side.
I still expect positive analyst chatter tomorrow morning.
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