Shares of Seagate Technology (STX) are currently up over 19% versus yesterday’s close after the company raised sales guidance last night.  STX has historically been volatile, but even for this stock a 19% one-day gain raises eyebrows.  In fact, to find the last time the stock rallied more in a single day, you have to go back to 2/1/12 when the company reported strong Q4 results and raised guidance.  Besides that day, the only other time in the last five years where STX saw a larger gain than today was on 10/21/11 when it also rallied in reaction to strong earnings.  Perhaps even more notable than today’s rally in STX is the fact that the stock is still down 17% on the year.  That’s because at one point in early May, it was down 47% YTD, so even after a rally of 57% off the lows, shares of STX still have some climbing to do before getting back in the black.

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