Seagate Technology PLC (NASDAQ: STX) increased 5.71% to $17.77 in the early hour. The company expects to generate second quarter revenue between $3.1 billion and $3.2 billion, exceeding analysts’ consensus forecast of $2.8 billion. The company will formally release quarterly results Jan. 31. In addition, Seagate forecasted third quarter of fiscal 2012 revenue in a range of $4.2 billion to $4.5 billion; also well ahead of analysts’ $3.6 billion consensus.
LSI Corporation (NYSE: LSI) increased 6.91% to $6.65 in the early hour after the company announced that the LSI SandForce SF-2200 Flash Storage Processor has been honored with an Electronic Products Magazine 2011 Product of the Year award. LSI Corporation (LSI) designs, develops and markets storage and networking semiconductors and storage systems. LSI provides silicon-to-system solutions that are used at the core of products that create, store, consume and transport digital information.
Marvell Technology Group Ltd. (NASDAQ: MRVL) gained 4.72% to $14.86 in the early hour after the company replaced Intel Corp. (INTC) as Google Inc.’s (GOOG) lead chip provider for TVs as Google is trying to bring down the cost of the devices to increase their popularity.
Tesoro Corporation (NYSE: TSO) plunged 7.96% to $22.10 in the early hour after the company it expects to report a fourth-quarter loss of $0.55 to $0.80 a share. Wall Street analysts had expected the company to report earnings of $0.74 a share. Tesoro also expects to report a 2011 profit of $3.85 to $4.10 a share, lower than the Wall Street target of $5.49 a share.
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