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Stock Market & Financial Investment News

News Breaks
January 8, 2013
10:36 EDTNTAP, BRCD, EMC, STECEMC weakens after analyst downgrades stock
IT infrastructure provider EMC (EMC) is falling after William Blair analyst Jason Ader downgraded the stock to Market Perform from Outperform in a note to investors earlier today. Last quarter, EMC had difficulty closing deals with large corporate customers, according to the analyst. As a result, the company's fourth quarter results are likely to be in-line with or below analysts' expectations, while its 2013 guidance is likely to be below the Street's outlook, wrote Ader. New data storage technologies are emerging, creating increased competition for companies that develop storage solutions, including EMC, Ader believes. The enhanced efficiency of some of these technologies is pressuring incumbent vendors, while the growth in spending on storage solutions has slowed significantly, the analyst wrote. In mid-morning trading, EMC fell 41c, or 1.70%, to $23.72. Other companies that develop storage solutions also dropped, with NetApp (NTAP) losing 2.74% to $32.33, Brocade (BRCD) giving back 1.45% to $5.42, and STEC (STEC) declining 1.80% to $4.92.
News For EMC;NTAP;STEC;BRCD From The Last 14 Days
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March 27, 2015
10:03 EDTEMCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AEGON (AEG) downgraded to Neutral from Buy at Goldman... Alkermes (ALKS) downgraded to Neutral from Buy at Citigroup... American Eagle (AEO) downgraded to Sell from Neutral at Goldman... ArcelorMittal (MT) downgraded to Sell from Neutral at Citigroup... Black Diamond (BDE) downgraded to Sell from Hold at Feltl... Diodes (DIOD) downgraded to Outperform from Strong Buy at Raymond James... EMC (EMC) downgraded at Pacific Crest... Epizyme (EPZM) downgraded to Neutral from Buy at Citigroup... FutureFuel (FF) downgraded Neutral at Roth Capital... GameStop (GME) downgraded to Neutral from Buy at B. Riley... MSC Industrial (MSM) downgraded to Neutral from Outperform at RW Baird... Pioneer Energy (PES) downgraded to Hold from Buy at Deutsche Bank... Power Integrations (POWI) downgraded to Market Perform at Raymond James... Precision Drilling (PDS) downgraded to Hold from Buy at Deutsche Bank... SanDisk (SNDK) downgraded to Hold from Buy at Evercore ISI... Semtech (SMTC) downgraded to Outperform from Strong Buy at Raymond James... Swiss Re (SSREY) downgraded to Hold from Buy at Jefferies... Vantiv (VNTV) downgraded at SunTrust... Vivendi (VIVHY) downgraded to Underperform from Outperform at Exane BNP Paribas... WESCO (WCC) downgraded to Neutral from Outperform at RW Baird... World Acceptance (WRLD) downgraded to Underperform from Neutral at Macquarie... Zurich Insurance (ZURVY) downgraded to Neutral from Buy at Goldman.
08:03 EDTEMCEMC downgraded at Pacific Crest
As noted earlier, Pacific Crest downgraded EMC to Sector Perform from Outperform. As reasons for the downgrade, the firm cited checks indicating weak Q1 enterprise storage demand, the company's desire to consolidate which could increase near-term execution risks, margin risks due to aggressive pricing, and changes in technology with which the company may not be able to cope.
05:56 EDTEMCEMC downgraded to Sector Perform from Outperform at Pacific Crest
March 25, 2015
08:54 EDTNTAP, EMCNetApp Arista among potential takeover targets for EMC, says RBC Capital
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March 23, 2015
15:36 EDTEMCEMC announces the Federation Business Data Lake.
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10:00 EDTEMC, NTAPOn The Fly: Analyst Downgrade Summary
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06:40 EDTEMC, NTAPEMC downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded EMC (EMC) to Neutral to Neutral saying the company is facing increasing pressure from next-gen storage vendors and public cloud providers. Piper notes that it continues to hear Pure Storage and other vendors such as Nimble Storage (NMBL) are making inroads into the installed base of EMC. It cut its price target for shares to $27 from $30. The firm also downgraded NetApp (NTAP) to Neutral this morning for similar reasons, but says EMC has a more defensible position than NetApp.
06:37 EDTNTAPNetApp downgraded to Neutral from Overweight at Piper Jaffray
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March 18, 2015
07:49 EDTEMCSenate Judiciary Committee to hold a hearing
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