STX is trading at $799.16 (+6.40%) after Seagate announced it will exchange $185.9 million of subsidiary notes for a combination of cash and ordinary shares.
- The stock is seeing active upside momentum in early trading, notably outperforming a softer tape as major U.S. indices open lower.
- While the catalyst is company-specific, cautious broader market sentiment may be contributing to increased volatility in high-beta technology names.