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Stock Market & Financial Investment News

News Breaks
August 5, 2014
08:47 EDTWDC, CVLT, STX, NTAP, DTLK, NMBL, EMCIT storage sector looks set to rebound in 2H14, says Pacific Crest
Pacific Crest believes that positive supply chain commentary from a number of companies including Seagate (STX), Datalink (DTLK) and Western Digital (WDC), along with positive results from the firm's CIO survey, suggest that the storage sector will recover in the second half of 2014. The firm remains upbeat on EMC but sees more upside in NetApp (NTAP), CommVault (CVLT), and Nimble Storage (NMBL). The firm keeps Outperform ratings on EMC, NetApp, CommVault, and Nimble Storage.
News For EMC;NTAP;CVLT;NMBL;STX;WDC;DTLK From The Last 14 Days
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October 22, 2014
06:59 EDTEMCEMC expects to repurchase aggregate of $3B in FY14
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06:58 EDTEMCEMC sees FY14 EPS $1.90, consensus $1.91
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06:55 EDTEMCEMC reports Q3 EPS 44c, consensus 46c
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October 21, 2014
20:00 EDTEMCEMC said to buy out most of Cisco VCE joint venture stake, Bloomberg reports
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18:06 EDTEMCEMC to hold press conference on 'new' development tomorrow, Bloomberg says
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16:02 EDTDTLKDatalink sees Q4 adjusted EPS 27c-32c, consensus 32c
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16:02 EDTDTLKDatalink reports Q3 adjusted EPS 19c, consensus 19c
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15:35 EDTEMCNotable companies reporting before tomorrow's open
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14:37 EDTEMCEMC October weekly 27.5 straddle priced for 4% move into Q3
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14:34 EDTEMCEarnings Preview: EMC reports after HPQ merger talks said to end
EMC Corporation (EMC) is expected to report third quarter earnings before the bell on Wednesday, October 22, with a conference call scheduled for 8:30 am ET. EMC provides software, hardware and IT services to business customers through its three federated businesses: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure, which is represented by EMC’s majority equity stake in VMware (VMW). VMware is expected to report on its own third quarter results after the bell on Tuesday, October 21, with a conference call scheduled for 5:00 pm ET. EXPECTATIONS: For EMC, analysts are looking for earnings per share of 46c on revenue of $6.0B. The consensus range is 44c-49c for EPS and $5.91B-$6.16B for revenue, according to First Call. Along with its last earnings report, EMC raised its FY14 adjusted EPS view to $1.91 from $1.90 and guided to FY14 revenues of $24.58B. Analysts consensus for FY14 EPS and revenue currently stand at $1.91 and $24.55B. For VMware, analysts are looking for earnings per share of 83c on revenue of $1.5B. The consensus range is 81c-85c for EPS and $1.48B-$1.52B for revenue, according to First Call. LAST QUARTER: EMC reported Q2 adjusted EPS of 43c, which matched the consensus expectation. EMC's revenue of $5.9B came in slightly ahead of the $5.83B consensus projection. EMC also accelerated its 2014 share buyback plan, stating that it now expects to repurchase an aggregate of $3B of the company's common stock in 2014. VMware reported Q2 EPS of 81c, versus consensus of 79c, on revenue $1.46B, versus consensus of $1.44B. NEWS: VMware held its "VMWorld 2014" conference from August 24-28, during which the company updated its 2015 guidance. VMware's guidance for revenue growth in the mid teens percentage level and margin expansion of up to one percentage point is positive, RBC Capital analyst Matthew Hedberg wrote in a note to investors on August 26. The same day Cowen analyst Gregg Moskowitz wrote that VMware's FY15 revenue guidance would "likely weigh modestly" on the stock, even though he was not surprised by the outlook. Less than two weeks ago, Elliott Management sent a letter to the board of directors of EMC Corporation detailing its recommendations on the right path forward for EMC, in which Elliott holds a stake. Elliott believes that EMC’s Federation structure obscures enormous value at the company and that the board and management should pursue pathways to recognize this value, including a separation of VMware from Core EMC and/or various M&A opportunities, Elliott wrote. In response, EMC said its directors regularly review and evaluate the company's strategy with a view towards enhancing shareholder value. "Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," the company said. Last week, HP (HPQ) announced the resumption of its share repurchase program after Reuters reported the company's merger talks with EMC had ended. HP had suspended the buyback program due to "possession of material non-public information." The tech giant said that day that it is "no longer in possession of such information." During September, Re/code reported, citing sources familiar with Oracle's plans, that the company was not interested in acquiring EMC. Meanwhile, Cisco (CSCO) CEO John Chambers also said last month at a Wall Street Journal breakfast that his company is not among the potential merger partners for EMC. Chambers said a deal between the two companies would have been done a "year or two ago" were it to happen, according to Reuters. STREET RESEARCH: On the day after its last earnings report, Brean Capital raised its price target on EMC to $33 from $30, citing the company's aggressive capital return strategy, encouraging core Storage dynamics and potential pent up demand. Tigress Financial, however, downgraded EMC to Buy from Strong Buy, citing valuation. Additionally, VMware estimated that its total available market would reach more than $60B in 2017, versus its estimate last year of a $50B+ total addressable market by 2016, Moskowitz noted. PRICE ACTION: In afternoon trading, EMC shares are up 1% to $27.22, while VMware is fractionally higher at $87.79. Over the last three months, EMC shares have declined almost 4%, while VMware's stock is down about 5.5% in that same time frame.
October 20, 2014
09:59 EDTEMCEMC weekly volatility elevated into Q3 and outlook
EMC October weekly call option implied volatility is at 52, November is at 29, December is at 26, January is at 25; compared to its 26-week average of 21 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 22.
08:34 EDTDTLKDatalink sees Q3 EPS 18c-19c, consensus 19c
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08:32 EDTDTLKDatalink acquires Bear Data Solutions for $18.5M
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October 19, 2014
12:14 EDTWDCWestern Digital looks like inexpensive big data play, Barron's says
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October 15, 2014
12:36 EDTEMCOn The Fly: Midday Wrap
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09:20 EDTEMCOn The Fly: Pre-market Movers
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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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