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Stock Market & Financial Investment News

News Breaks
January 24, 2014
08:31 EDTAVT, EMC, NTAPNetApp EMC have positive read throughs from Avnet results, says Wells Fargo
Wells Fargo reports that Avnet (AVT) said it had benefited from strong year-end enterprise IT demand, particularly in software and storage. The firm thinks the strong storage trends identified by Avnet bode well for NetApp (NTAP), EMC (EMC), and other storage vendors. The firm keeps a Market Perform rating on NetApp and an Outperform rating on EMC.
News For NTAP;EMC;AVT From The Last 14 Days
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January 29, 2016
07:10 EDTAVTAvnet remains well positioned despite macro impact, says Brean Capital
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January 28, 2016
11:18 EDTAVTOptions with increasing put volume
Options with increasing put volume: DRII SNE LH CAVM KSS UCO ILMN JBLU AVT SWK JNPR RRC CL HES
07:10 EDTAVTAvnet sees Q3 adjusted EPS 93c-$1.03, consensus $1.12
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07:08 EDTAVTAvnet reports Q2 adjusted EPS $1.22, consensus $1.25
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06:26 EDTEMCEMC upgraded to Buy on arbitrage opportunity at Mizuho
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January 27, 2016
16:10 EDTEMCEMC upgraded to Buy from Neutral at Mizuho
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13:47 EDTEMCVMware tanks after providing lower guidance amid Cloud transition
Shares of virtualization software maker VMware (VMW) are falling after providing guidance, confirming layoffs and announcing executive changes. WHAT'S NEW: After the close of trading on Tuesday, the software company that is 80% owned by EMC (EMC) and provides software for corporate data centers, announced fourth quarter financial results while confirming earlier reports of layoffs and announcing a new chief financial officer. VMware, along with parent company EMC, is in the midst of a proposed acquisition by Dell. The company's Q4 earnings per share and revenue came in at $1.26 and $1.87B, respectively, slightly better than analysts were expecting; however, the company's view for fiscal year 2016 EPS and revenue of $4.07-$4.16 and $6.8B-$6.9B, respectively, were well below the $4.20 and $7.21B analysts are expecting. VMware also guided first quarter EPS to 83c-85c, also below analysts' 92c consensus. Along with its results, the company confirmed earlier reports that it intended to reduce its workforce by 800 and plans to take a charge of between $55M-$65M related to this action over the course of the first half of 2016. The company also announced that its CFO Jonathan Chadwick is leaving and will be replaced by EMC CFO Zane Rowe. WHAT'S NOTABLE: On its quarterly conference call discussing its earnings, VMware company referred to its growth in "emerging" products and businesses including NSX and User Computing and Virtual SAN, all of which grew strongly over the quarter. The company said it hopes its newer products are picking up the slack due to the declining growth in its mature "compute products." Pat Gelsinger, VMware's chief executive officer, "We recognize that our blockbuster compute products are reaching maturity and will represent a decreasing portion of our business going forward." The company is upgrading its Cloud strategy to better compete with leaders like Amazon (AMZN) and Microsoft (MSFT), which provide Cloud services via the internet and make the corporate data center that VMware focuses on less necessary. ANALYSTS' VIEWS: Summit Research analyst Srini Nandury downgraded VMware to Hold and lowered his price target for the shares to $40 from $80 following the company's quarterly results. The company's business will get worse before it gets better, Nandury told investors in a research note. Another downgrade came from research firm Baird's analyst Jayson Noland, who cut his rating on VMware to Neutral and lowered his price target to $60 from $80. Noland said the core vSphere business is facing incremental public cloud headwinds and substantial uncertainty related to the Class V common stock being issued to finance the EMC acquisition. Providing a more constructive view was UBS who said the current valuation levels of VMware offer a significant opportunity for patient investors. The firm noted the company will temper spending and focus on leveraging public clouds, which should provide a tailwind to both capital and operating expenditures. UBS reiterated its Buy rating and $72 price target on VMware. PRICE ACTION: Shares of VMware are down approximately 40% since the Dell-EMC deal was announced last October and are down over 9% to $44.84 in afternoon trading. OTHERS TO WATCH. Other companies in the cloud computing space include Amazon, Microsoft and Citrix Systems (CTXS).
09:29 EDTEMCFacebook data center project supported by telco heavyweights, FT reports
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09:15 EDTEMCEMC says 'highly confident' in contractual terms of Dell deal
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08:56 EDTEMCEMC CEO says 'very committed' to partnership with Cisco
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07:07 EDTEMCEMC says not providing 2016 outlook given pending merger
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07:07 EDTEMCEMC CFO says confident in exceeding cost reduction goal
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07:06 EDTEMCEMC CEO says progress on closing Dell transaction on track
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07:05 EDTEMCEMC reports Q4 EPS 65c, consensus 65c
Reports Q4 revenue $7B, consensus $7.12B. EMC generated $1.9B in operating cash flow and $1.5B in free cash flow in the fourth quarter, and ended the quarter with $14.8B in cash and investments.
January 26, 2016
16:25 EDTEMCEMC names Denis Cashman CFO
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16:24 EDTEMCVMware appoints Zane Rowe as CFO
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15:20 EDTEMCEarnings Watch: EMC reports as questions linger on Dell deal
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14:32 EDTEMCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
13:41 EDTEMCEMC volatility elevated into Q4 and outlook
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06:00 EDTEMCEU to decide on Dell, EMC deal by February 29, Reuters reports
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