New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 16, 2014
16:25 EDTEMC, PX, RHT, FEICPraxair, FEI Co., Red Hat, EMC should benefit from reinvestment, Barron's says
Praxair (PX), FEI Company (FEIC), Red Hat (RHT), EMC (EMC) should benefit from shifting corporate spending to reinvestment from repurchases, Barron's contends in a feature article. Reference Link
News For PX;FEIC;RHT;EMC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
May 27, 2015
07:52 EDTEMCEMC deal has mixed implications, says Oppenheimer
After EMC agreed to buy privately held Virtustream, Oppenheimer says it's positive on Virtustream's high-end cloud workload focus and how it solidifies EMC's hybrid view. However, the firm says that Virtustream is too focused on SAP applications, and it is concerned that the deal could make some of EMC's partners increasingly view it as a competitor. The firm keeps an Outperform rating on EMC.
May 26, 2015
20:50 EDTPXBernstein to hold a conference
Subscribe for More Information
10:38 EDTEMCEMC to expand in cloud with purchase of Virtustream for $1.2B
Subscribe for More Information
08:16 EDTEMCEMC volatility low into acquiring Virtustream in deal valued at $1.2B in cash
Subscribe for More Information
08:15 EDTEMCEMC to host conference call
Subscribe for More Information
08:04 EDTEMCEMC to acquire Virtustream in deal valued at $1.2B in cash
EMC Corporation announced it has entered into a definitive agreement to acquire privately-held Virtustream. When the transaction closes, Virtustream will form EMC's new managed cloud services business. Virtustream's cloud software and Infrastructure-as-a-Service portfolio will be delivered directly to customers and through partners. EMC Federation service provider partners will receive access to Virtustream's xStream cloud management software platform and be enabled to adopt and deliver their own branded services based upon it. The all-cash transaction is expected to close in the third quarter of 2015, subject to customary closing conditions, is valued at approximately $1.2B, and has been approved by the boards of directors of both EMC and Virtustream and the requisite Virtustream stockholders. The transaction is expected to have no material impact to EMC financial results in 2015 and is expected to be additive to revenues and accretive to EPS in 2016.
08:02 EDTEMCEMC to acquire Virtustream in deal valued at $1.2B in cash
May 21, 2015
11:39 EDTEMCNetApp hits 52-week low after results, outlook miss expectations
Shares of storage company NetApp (NTAP) are falling after the company’s fourth quarter results and first quarter outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Yesterday, NetApp reported Q4 adjusted earnings per share of 65c and revenue of $1.54B, trailing analysts’ consensus estimates of 72c and $1.59B, respectively. The company raised its quarterly dividend 9% to 18c per share. It also announced a “realignment” that will be implemented through the end of 3Q16. As part of the realignment, NetApp expects to reduce worldwide headcount by approximately 500 employees. The company expects to incur aggregate charges of approximately $25M-$35M for employee terminations and other costs associated with the realignment. WHAT’S NOTABLE: Looking ahead to Q1, NetApp forecast adjusted EPS of 20c-25c and revenue of $1.275B-$1.375B, well below the consensus of 60c and $1.46B, respectively. On the company’s conference call, management said it sees a return to a growth trajectory in second half of FY16. OEM revenue ended at less than 10% of FY15 net revenues and normalized to a level of revenue that the company will no longer discuss separately, management stated, adding that the company is well positioned for the era of cloud computing. They expect to reduce the company’s share count by another 5%, and see operating margins back in range in the second half of the year. ANALYST REACTION: This morning, JP Morgan, Cantor, Summit Research and Needham all downgraded NetApp following its Q4 report. JPMorgan went to Underweight on NetApp, citing the "tough" Cluster ONTAP product transition after the company's Q1 revenue guidance missed expectations. The firm cut its price target for shares to $29 from $35. Cantor Fitzgerald's Brian White downgraded NetApp to Hold from Buy, citing execution issues with the product transition and secular challenges for the storage market, and cut his price target for shares to $35 from $43. Last night marked the seventh time in eight quarters that NetApp missed estimates, Summit Research noted. PRICE ACTION: In late morning trading, NetApp fell $4.17, or about 12%, to $31.16 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $30.90. Including today's pull back, the shares have lost approximately 10% over the past 12 months. OTHERS TO WATCH: Other companies in the in the storage space include EMC Corporation (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
May 19, 2015
08:06 EDTRHTRed Hat announces OpenStack shared file system service
Red Hat announced a technology preview of Red Hat Gluster Storage with capabilities from the OpenStack community’s new Manila project. Expanding the options for hybrid cloud storage, Red Hat Gluster Storage now provides enterprises with a scale-out shared file system service for OpenStack cloud infrastructures.
May 18, 2015
07:27 EDTEMCJPMorgan to hold a conference
Subscribe for More Information
May 15, 2015
17:33 EDTEMCPoint72 Asset Management gives quarterly update on stakes
Subscribe for More Information
16:51 EDTEMCGreenlight Capital gives quarterly update on stakes
Subscribe for More Information
12:13 EDTEMCThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
08:31 EDTPXPraxair announces price increases effective June 1
Subscribe for More Information
May 14, 2015
09:32 EDTPXPraxair signs long-term supply agreement in India
Praxair announced it has signed a long-term contract with Gerdau in India for the supply of gaseous oxygen to the company’s blast furnace in Tadipatri, Andhra Pradesh. Gerdau is the largest long steel producer in the Americas and one of the leading suppliers of special long steel in the world. Praxair will build, own and operate an 80 tons per day non-cryogenic vacuum-pressure-swing-adsorption plant, which is expected to start up in 2016. Gerdau’s steel facility has an installed capacity to produce 300,000 tons of special steel per year, primarily for automotive, defense, railways and related industries.
May 13, 2015
07:21 EDTRHT, EMCCredit Suisse to hold a conference
4th Annual Disruptive Technology Conference is being held in San Francisco on May 13-14 with webcasted company presentations to begin on May 13 at 10:35 am; not all company presentations may be webcasted. Webcast Link

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use