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Actionable news in STX: Seagate Technology.,

Seagate Plunges: FYQ4 Misses by a Mile, Luczo Steps Aside as CEO

Shares of hard disk drive maker Seagate Technology (STX) are down $7.36, or 19%, at $32.40, after the company this morning reported fiscal Q4 revenue and profit that missed expectations by a country mile, and and said its boar voted to replace CEO Steve Luczo with Dave Mosley, the company’s chief operating officer.

The company’s conference call with analysts is underway right now.

Revenue in the three months ended in June fell 9%, year over year, to $2.41 billion, yielding EPS of 65 cents, excluding some costs.

Analysts had been modeling $2.56 billion and 98 cents.

Separately, the company said its board unanimously...


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