Western Digital Shares Rise Unexpectedly
Dow Jones
Western Digital Corp. shares climbed 10% Tuesday in a move company officials weren’t immediately able to explain.
“I don’t have anything to account for it,” spokesman Bob Blair said. He said the Irvine disk-drive company hadn’t made any announcements in the last several days that he believed might have spurred the rise.
The stock closed at $4.13, up 38 cents a share, on the New York Stock Exchange.
“Keep in mind, this thing only has to go up 40 cents and it’s up 12%,” said ING Barings LLC analyst Robert Cihra, who also wasn’t aware of anything in particular moving the stock Tuesday.
