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Seagate Reports quarterly results
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Seagate rises after posting better-than-expected earnings

Makers of the affordable data storage technology known as hard disk drives have become hot stocks amid the AI boom.

Matt Phillips

Hard disk drive maker Seagate Technology Holdings, one of the top-performing stocks in the S&P 500 this year, is up big in premarket trading on Wednesday after reporting better-than-expected results for its fiscal first quarter on Tuesday after the close. Rival hard disk drive maker Western Digital is also rallying strongly in the premarket session as investors bet that its peer’s strong performance bodes well for the industry at large.

For the quarter ended September 27, Seagate reported:

  • Revenue of $2.63 billion vs. the $2.55 billion expectation from Wall Street analysts.

  • Adjusted earnings per share came in at $2.61 vs. the $2.40 anticipated on the Street.

  • Looking to the current quarter that ends in December, Seagate said it expects adjusted EPS of between $2.55 and $2.95 vs. a $2.69 consensus expectation.

  • Seagate expects revenue of between $2.60 billion and $2.80 billion in the current quarter vs. a $2.67 billion consensus estimate.

Through the end of trading on Tuesday, Seagate shares are up approximately 160% so far in 2025, as the data storage maker has ridden the rise in demand from the AI investment boom.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

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