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Actionable news in WDC: Western Digital Corporation,

Western Digital Reverses, Drops 4% on So-So Forecast

[Updates with Q1 forecast at bottom of story, correction of full-year forecast reference.]

Shares of hard disk drive maker Western Digital (WDC) are up 60 cents, or 0.7%, at $92.50, after the company this afternoon reported fiscal Q4 revenue and profit that toped analysts’ expectations, and even beat its own pre-announcement back on June 26th, which at the time was enthusiastically received by the Street, with higher earnings per share.

Shares later gave up gains and traded lower based on the company's outlook on its conference call.

The mild rise in the stock price tonight, at least initially, was a nice result compared to Tuesday morning's plunge in shares of competitor Seagate Technology (STX).

Western, you’ll recall, is locked in a legal battle with...


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