NetApp February call volatility at 123 into Q3 and outlook NetApp February call option implied volatility is at 123, March is at 45, April is at 35; compared to its 26-week average of 39 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today after the market close.
EMC 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.