|January 8, 2013|
|10:36 EDT||BRCD, EMC, STEC, NTAP||EMC 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
|July 1, 2015|
|06:01 EDT||NTAP||Stocks with implied volatility below IV index mean; MU NTAP|
Stocks with implied volatility below IV index mean; Micron (MU) 38, NetApp (NTAP) 23 according to iVolatility.
|June 30, 2015|
|06:04 EDT||NTAP||Stocks with implied volatility below IV index mean; MU NTAP|
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|June 29, 2015|
|14:53 EDT||NTAP||Bankers see suitors being cool to NetApp amid competition, dealReporter says|
Two industry bankers said NetApp’s worsening performance and rising competition are leading to little or no strategic interest from potential suitors, reported dealReporter, according to contacts.
|10:02 EDT||EMC||HP deal for EMC 'more than a distinct possibility,' says Raymond James|
Noting that shares of both HP (HPQ) and EMC (EMC) have been stagnant, Raymond James analyst Brian Alexander repeated that he believes shareholders of both would earn substantial returns from a deal between the two and that he thinks an HP acquisition of EMC is "more than a distinct possibility." Alexander previously said in a note to investors on June 4 that he believed HP will ultimately buy EMC, including VMware (VMW). Assuming EMC is acquired for $32-$34 at various combinations of debt/stock, accretion for HP ranges from 39%-52%, Alexander calculates. Raymond James has a Market Perform rating on HP, a Strong Buy rating on EMC and an Outperform rating on VMware.
|June 25, 2015|
|07:03 EDT||NTAP||NetApp did little to alleviate investor concerns, says Piper Jaffray|
Piper Jaffray analyst Andrew Nowinski says NetApp's tech talk with new CEO George Kurian did little to alleviate investor concerns since no new initiatives were revealed. New management is continuing to execute the "failed strategy" that prior management initiated, Nowinski tells investors in a research note. He views shares as fairly valued and keeps a Neutral rating on NetApp.
|June 20, 2015|
|16:10 EDT||NTAP||NetApp participates in a conference call with UBS|
UBS IT Hardware Analyst Steve Milunovich hosts CEO George Kurian, who will discuss NetApp's technology, strategy and direction on a conference call to be held on June 24 at 1 pm. Webcast Link