Western Digital Follows Seagate Higher

Western Digital Corp WDC shares are trading higher by $3.81 (5 percent) at $79.82 in Wednesday's session.

The issue is getting a boost from its peer Seagate Technology PLC STX shares, which are trading higher by $7.80 at $45.23 after a better-than-expected Q2 report.

After a much higher open, WDC had a brief retreat to $79.10 before continuing its jaunt higher. The ensuing rally has taken the issue to $81.26. but is trying to remain in the $80.00 handle. That high takes the issue back to levels not seen October 2015.

Western Digital will report Q2 earnings after today's close. The Street estimates for EPS are $2.13 on revenues of $4.76 billion.