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Stock Market & Financial Investment News

News For EMC From The Last 14 Days
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October 15, 2014
08:15 EDTEMCHP resumes buyback with EMC merger talks reportedly over
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06:14 EDTEMCHP, EMC halt merger agreement discussions, Reuters says
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October 13, 2014
16:55 EDTEMCEMC to acquire cloud-computing firm Cloudscaling, Bloomberg reports
EMC is acquiring cloud-computing startup Cloudscaling, which helps companies manage computers that are tied together by OpenStack, says Bloomberg Businessweek. The purchase price is less than $50M, added Bloomberg Businessweek. Reference Link
07:15 EDTEMCNational Association of Corporate Directors to hold a conference
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October 10, 2014
10:01 EDTEMCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
October 9, 2014
16:59 EDTEMCJefferies initiates IT Hardware space, names Western Digital top pick
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16:26 EDTEMCEMC initiated with a Buy at Jefferies
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13:39 EDTEMCCisco denies rumors that it will stop investing in VCE JV, The Register reports
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13:37 EDTEMCCisco may end further investment in VCE JV, CRN reports
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06:55 EDTEMCAnalyst says PC company likely to get much of HP debt, Re/code reports
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October 8, 2014
14:46 EDTEMCEMC comments on letter issued by Elliott Management
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11:04 EDTEMCEMC advances after activist letter, report on HP merger talks
Shares of EMC (EMC) are rising slightly in a down market after activist investor Elliott Management disclosed that it wrote in a letter to the company's board that it had heard of "acquisition interest in EMC's assets on the part of several large companies." The firm called on EMC to pursue M&A opportunities and spin off its VMware (VMW) subsidiary. WHAT'S NEW: Since July, several large companies have expressed "acquisition interest" in EMC's assets, Eliiott wrote. Acquisitions of EMC's assets by these companies would be logical from a strategic perspective, the firm added. The parties that have expressed interest could afford to buy all of EMC or a number of its assets, according to Elliott. EMC should look to spin off VMware because owning VMware is holding down the value of EMC's stock and damaging its relationship with its customers, the investor stated. VMware is hurting EMC by competing with EMC's customers, Elliott explained. Elliott Management noted that is affiliates collectively own or have economic exposure to about 2.2% of the common stock and equivalents of EMC. WHAT'S NOTABLE: HP (HPQ) and EMC are still conducting due diligence on a potential merger, CNBC's David Faber reported this morning, citing sources. A deal is unlikely, but still possible, and would include a buy-in of VMware, Faber added. PRICE ACTION: In mid-morning trading, EMC rose 0.3% to $28.20, VMware slid 0.9% to $90.59 and HP dropped 1.2% to $34.80.
09:53 EDTEMCHP, EMC still doing due diligence on potential deal, CNBC reports
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09:49 EDTEMCHP, EMC merger unlikely but still possible, CNBC's Faber says
09:48 EDTEMCHP, EMC still doing work on potential deal, CNBC reports
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08:55 EDTEMCEMC rises after VMware separation urged by Elliott Management
Shares of EMC Corp. (EMC) are higher in pre-market trading after investor Elliott Management, affiliates of which collectively own or have economic exposure to about 2.2% of the common stock and equivalents of EMC, sent a letter to the company's board detailing the firm's recommendations, including a separation of VMware (VMW) from Core EMC. Shares of EMC are up about 1% to $28.39 following Elliott's public disclosure of its letter to the company's board.
08:54 EDTEMCElliott Management urges separation of VMware from EMC
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08:31 EDTEMCElliott Management sends letter to EMC board
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October 7, 2014
08:09 EDTEMCHP undisclosed info seen pointing to life in EMC talks, Bloomberg reports
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07:03 EDTEMCEMC valuation of $39 per share achievable, says RBC Capital
RBC Capital valued each of EMC's business lines separately following recent spin-offs in the tech space and concluded that fair valuation of $39 per share is achievable. RBC believes shares are positioned to break out of a long held trading range and that now is an appropriate time for the company to look at strategic alternatives with CEO Joe Tucci retiring in February 2015. The firm has an Outperform rating on EMC with a $33 price target.
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