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Stock Market & Financial Investment News

News Breaks
February 19, 2013
09:03 EDTEMC, CSCCSC names Dan Hushon Chief Technology Officer
CSC (CSC) named Dan Hushon chief technology officer. Hushon previously served as a distinguished engineer and chief technologist for EMC Corporation (EMC) and Sun Microsystems.
News For CSC;EMC From The Last 14 Days
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January 30, 2015
09:02 EDTEMCEMC valuation and capital return should support shares, says Brean Capital
Brean Capital believes EMC's valuation and capital return strategy should support its shares. The firm also sees robust free cash flow and expects its higher growth offerings to help revenue generation. Brean Capital reiterated its Buy rating but lowered its price target to $31 from $33 on EMC.
January 29, 2015
09:08 EDTEMCEMC announces restructuring plan with 'reduction in force'
EMC earlier today said its management approved a restructuring plan. The plan consists of a "reduction in force which will be substantially completed by the end of the first quarter of 2015 and fully completed by the end of 2015." The total charge resulting from this plan is expected to be approximately $130M-$150M, with total cash payments associated with the plan expected to be in the range of $120M-$140M.
07:00 EDTEMCEMC sees FY15 EPS $1.98, consensus $2.13
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06:58 EDTEMCEMC reports Q4 EPS 69c, consensus 68c
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January 28, 2015
12:41 EDTEMCEarnings Preview: Firm says EMC could unveil share repurchases, restructuring
EMC (EMC) is scheduled to report fourth quarter earnings before the open on Thursday, January 29, with a conference call scheduled for 8:30 am ET. EMC is a provider of IT infrastructure. EXPECTATIONS: Analysts expect the company to report earnings per share of 68c on revenue of $7.1B. The consensus range is 67c-70c for EPS and $7B-$7.2B for revenue. LAST QUARTER: EMC reported slightly lower than expected profit and slightly higher than expected revenue for the third quarter. Its fiscal 2014 guidance was roughly in-line. EMC said that it would adopt an aggressive stance during fiscal 2015, which started recently, when it comes to returning cash to shareholders. The company said that it would not comment on speculation that it had held talks about selling the company to HP (HPQ). On November 5, David Einhornís Greenlight Capital revealed that it had taken a "medium-sized" long position in EMC. RECENT NEWS: On January 12, EMC agreed to add two men backed by activist investor Elliott Management to its board. In return, Elliott, which had been pushing EMC to break itself up, entered into a limited standstill agreement with EMC. Under the framework of that deal, Elliott pledged to back EMCís other proposed directors at the company's next shareholder meeting, scheduled to take place on April 30. Elliott has a $1B stake in EMC. STREET RESEARCH: In a note to investors on January 26, Wells Fargo predicted that EMCís results could beat expectations, driven by catch-up spending on storage solutions after soft spending trends in the first half 2014, Wells stated. On other other hand, EMCís 2015 EPS guidance could miss expectations, as other analysts may not have adequately calculated the effects of the companyís acquisition, the firm stated. But EMC could increase the size of its share repurchases or announce a restructuring initiative that could offset any negative effects of the VCE deal on its EPS, Wells believes,. The firm views the stock as a core long-term holding, as it believes that the companyís current investments in new technologies will drive growth and earnings leverage, especially in 2016 and later In a note to investors on January 26, research firm Pacific Crest wrote that EMCís 2015 EPS guidance could miss expectations, due to all the costs generated by VCE and EMCís investments in next-generation technologies. However, EMCís share gains and profit growth should accelerate in 2016, making it a good stock for investors to buy opportunistically this year, the firm advised. It kept a $30 price target and Outperform rating on the stock. PRICE ACTION: EMC's stock is down 11.5% in the last month, but the shares are still up 7.7% over the last twelve months.
January 27, 2015
18:20 EDTEMCOn The Fly: After Hours Movers
UP AFTER EARNINGS: ABIOMED (ABMD), up 27%... Yahoo (YHOO), up 7.2% after reporting fourth quarter results and that it is planning a tax-free spin-off of remaining Alibaba (BABA) stake... Freescale Semiconductor (FSL), up 10%... Marten Transport (MRTN), up 6%... U.S. Steel (X), up 9.2%... Key Tronic (KTCC), up 4%... Juniper Networks (JNPR), up 4.4%... Western Digital (WDC), consensus 2.6%... Electronic Arts (EA), up 4.8%... VMware (VMW), up 1.7%... AT&T (T), up 1.9%... Apple (AAPL), up 5.1%. ALSO HIGHER: Cirrus Logic (CRUS), up 2.9%, Skyworks (SWKS), up 1.3%, NXP Semiconductors (NXPI), up 1.5%, and Qorvo (QRVO), up 1% following Apple's first quarter results... EMC (EMC), up 2.1% following VMware's fourth quarter results... Alibaba (BABA), up marginally following Yahoo results and tax-free spin-off plans... DOWN AFTER EARNINGS: Ethan Allen (ETH), down 13.1%... EZCORP (EZPW), down 7.1%... International Game Technology (IGT), down 2.9%... Open Text (OTEX), down 4.4%. ALSO LOWER: Synergy Resources (SYRG), down 3.7% after filing to sell $150M of common stock.
09:04 EDTEMCEMC January weekly volatility elevated into Q4 and outlook
EMC January weekly call option implied volatility is at 39, February is at 24, March is at 23; compared to its 26-week average of 24 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on January 29.
January 26, 2015
11:43 EDTEMCEMC to release Q4 results on January 29
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January 22, 2015
08:57 EDTEMCIxia slides after Oracle unveils Virtual Compute Appliance X5
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January 21, 2015
09:02 EDTEMCSciQuest names Beth Hendriks as Chief Technology Officer
SciQuest (SQI) announced that EMC (EMC) executive Beth Hendriks will be joining the company as its new chief technology officer. In this role, she will be responsible for enhancing the breadth and depth of the SciQuest Spend Management Suite while accelerating technology and user experience innovation. Hendriks joins SciQuest from EMC, where she served as senior director of engineering.
January 20, 2015
10:03 EDTCSCCSC awarded follow-on healthcare contract worth up to $90M
CSC announced that its company, DynPort Vaccine Company, received a follow-on contract to continue supporting the National Institute of Allergy and Infectious Diseases, part of the National Institutes of Health. Valued at up to $90M, the award is a 10-year Indefinite Delivery/Indefinite Quantity contract to support and conduct Phase 1 clinical trials of infectious disease therapeutics.

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