Momentum Stocks Try To Beat Views: Seagate Technology (STX), Ares Capital (ARCC)

Seagate Technology plc (NASDAQ:STX) [Trend Analysis] try to make new thrust in street and making different trends, stocks trading ended with 2.94% to $37.44. Seagate Technology plc (STX) reported that its Q2 net income of $297 million or $1.00 per share compared to $165 million or $0.55 per share, previous year. On a non-GAAP basis, which excludes the net impact of certain items, Seagate declared net income of $412 million and earnings per share of $1.38.

On average, 28 analysts polled by Thomson Reuters expected the company to report profit per share of $1.08 for the quarter. Analysts’ estimates typically exclude special items. Second-quarter revenue was $2.89 billion, compared to $2.99 billion, a year ago. Analysts expected revenue of $2.83 billion, for the quarter.

The Board of Seagate has authorized a quarterly cash dividend of $0.63 per share, which will be payable on April 5, 2017 to shareholders of record as of the close of business on March 22, 2017. The share price of STX attracts active investors, as stock price of week volatility recorded 2.86%. The stock is going forward to its 52-week low with 110.22% and lagging behind from its 52-week high price with -8.20%.

Ares Capital Corporation (NASDAQ:ARCC) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 0.71% to close at $16.98 with the total traded volume of 3.88 Million shares. Ares Capital Corporation (ARCC) decided to sell to initial purchasers in a private offering $350 million aggregate principal amount of its 3.75% Convertible Notes due 2022. Ares Capital has also granted the initial purchasers an option to purchase up to an additional $52.5 million aggregate principal amount of the Convertible Notes.

The Convertible Notes will be offered only to qualified institutional buyers (as defined in the Securities Act of 1933, as amended (the “Securities Act”)) pursuant to Rule 144A under the Securities Act. The closing of the transaction is subject to customary closing conditions and the Convertible Notes are expected to be delivered and paid for on January 27, 2017. The Convertible Notes are unsecured and bear interest at a rate of 3.75% per year, payable semiannually.

In certain circumstances, the Convertible Notes will be convertible into cash, shares of Ares Capital’s common stock or a combination of cash and shares of Ares Capital’s common stock, at Ares Capital’s election, at an initial conversion rate of 51.5756 shares of common stock per $1,000 principal amount of Convertible Notes, which is equivalent to an initial conversion price of approximately $19.39 per share of Ares Capital’s common stock, subject to customary anti-dilution adjustments. The firm has institutional ownership of 54.60%, while insider ownership included 0.10%. Its price to sales ratio ended at 5.27. ARCC attains analyst recommendation of 2.10 with week performance of 0.47%.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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