Western Digital Corp. Stock Rises Friday, Outperforms Market

Prospect Capital Corp

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Financials : Capital Markets | Small Cap Blend

Company profile

Prospect Capital Corporation is a financial services company that primarily lends to and invests in middle-market privately held companies. The Company's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated secured debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes. It makes directly originated agented loans to companies, including companies which are controlled by private equity sponsors and companies that are not controlled by private equity sponsors. It also invests in senior and secured loans, syndicated loans and high yield bonds that have been sold to a club or syndicate of buyers, both in the primary and secondary markets. The Company is managed by its investment adviser, Prospect Capital Management L.P.

Western Digital Corp. Stock Rises Friday, Outperforms Market

5:31 pm ET January 7, 2022 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Western Digital Corp. (WDC) rose 1.68% to $65.83 Friday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index falling 0.41% to 4,677.03 and Dow Jones Industrial Average falling 0.01% to 36,231.66. The stock's rise snapped a two-day losing streak. Western Digital Corp. closed $12.36 short of its 52-week high ($78.19), which the company reached on June 4th.

The stock outperformed some of its competitors Friday, as HP Inc. (HPQ) fell 0.08% to $38.65, Seagate Technology Holdings PLC (STX) fell 1.26% to $110.96, and NetApp Inc. (NTAP) fell 1.07% to $92.24. Trading volume (3.8 M) remained 327,797 below its 50-day average volume of 4.2 M.

Data source: Dow Jones Market Data, FactSet. Data compiled Janurary 7, 2022.

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January 07, 2022 17:31 ET (22:31 GMT)