Why Western Digital Stock Just Popped 8.5%
Computer hard drive- and flash memory-maker Western Digital (NASDAQ: WDC) stock is on a run this morning, up 8.5% as of noon EDT the day after the company announced plans to restructure its business into two separate product units.
Yesterday after the close of trading, Western Digital announced that Flash and Hard Disk Drives (HDD) will split up, each being led by a dedicated "general manager" to better promote "growth, profitability and agility." Former Cisco executive Robert Soderbery will run Flash, while the leader of HDD has yet to be named.
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Source Fool.com
