NetApp calls active on renewed takeover chatter NetApp March 34 weekly and March 36 calls are active on total call volume of 7,800 contracts (1,500 puts). March call option implied volatility is at 38, April and May is at 34; compared to its 26-week average of 35 according to Track Data. Active call volume suggests traders taking positions large price movement following renewed takeover chatter.
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.