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Seagate Technology (STX) Is Rising On Better Than Expected Q3 Earnings

Seagate Technology (STX) reported third quarter adjusted EPS of $1.08 Friday morning, down from $1.34 in the prior year. Analysts expected EPS of $1.04.

Seagate Technology has been rising sharply since the open of trade Friday and is now up 2.03 at $57.99. The stock has broken out to a month and a half high.

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All eyes were on the U.S. Federal Reserve this week as the bank announced its latest policy decision. Find out the signals given out by Chair Jerome Powell regarding the future path of interest rates. Some key data on the U.S. private sector economy were also released. Other main news included the flash estimates of first quarter GDP from Eurozone. Elsewhere, the Paris-based think tank OECD released its latest round of macroeconomic projections for the global economy.

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