Seagate Technology Plc , the world’s largest maker of computer disk drives, reported second-quarter profit that missed analysts’ estimates as customers shunned machines based on its kind of memory, favoring rival technology.
Seagate Technology, the world’s largest maker of hard disk drives, is based in Scotts Valley, California. Yet the documents it files with the Securities and Exchange Commission list its address on South Church Street in George Town, the capital of the Cayman Islands, David Evans of Bloomberg News reports.
Seagate Technology Plc, the world’s largest maker of computer disk drives, gained in late trading after saying it would pay a quarterly dividend of 18 cents and reporting quarterly sales that topped analysts’ predictions.
KKR & Co. may drop out of a group of investors in talks to buy Seagate Technology Plc , the world’s largest maker of disk drives, according to two people with knowledge of the matter. Seagate shares dropped 8.4 percent.
PG&E Corp., Cisco Systems Inc. and General Electric Co. are all betting that energy-monitoring devices will catch on in homes. Convincing consumers that they’re a good thing is turning out to be a tough sell.