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Seagate Expects Results to Miss Expectations

Seagate Technology PLC said Thursday that its revenue and gross margin will likely fall short of expectations for its latest quarter, as the data-storage company struggles with weak demand.

Shares of Seagate, down 28% this year, fell 8% to $44 a share in premarket trading.

Chief Executive Steve Luczo said in a news release that Seagate is disappointed that its products didn't address demand in the market...