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Stock Market & Financial Investment News

News Breaks
November 27, 2012
12:52 EDTSTX, WDC, HPQ, DELLPC sector stocks retreat after firm warns on emerging markets
A number of stocks related to PCs are sliding after research firm CSLA warned that PC sales in emerging markets are slowing more than it had previously expected. In a note to investors this morning, CLSA analyst Nicolas Baratte reported that sales of computer notebooks and netbooks in emerging markets dropped 1% in the third quarter compared with the same period in 2011. Sales of PCs to emerging market companies sank 7%, and worldwide sales of desktops tumbled 10% in the third quarter, the analyst added. Furthermore, the analyst expects PC sales in developed markets to decline by 9% in 2012 and continue dropping in coming years. On a positive note, Baratte expects PC sales in emerging markets to begin growing again during the current quarter, before jumping 9% in 2013. The analyst continues to have a cautious view of Hewlett Packard (HPQ), Dell (DELL), Seagate Technology (STX), and Western Digital (WDC), and he added that Dell and Hewlett Packard seem to be unable to recover from sizable share losses in the PC market. Baratte maintains Underperform ratings on Seagate, Western Digital, and Hewlett-Packard, and an Outperform rating on Dell. Meanwhile, a decision by Seagate CFO Patrick O'Malley to sell 57,280 shares of the company's stock may also be weighing on Seagate in particular and the sector in general. O'Malley sold the shares on November 21, but the transaction was revealed in an SEC filing last night. In early afternoon trading, Seagate fell 4.59% to $26.09, Western Digital gave back 2.67% to $34.85, Dell slid 1.61% to $9.78, and Hewlett-Packard dropped 1.65% to $12.53.
News For STX;WDC;HPQ;DELL From The Last 14 Days
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September 19, 2014
07:19 EDTHPQNew America Foundation to hold a discussion
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September 17, 2014
12:01 EDTSTXSeagate signs strategic agreement with Baidu
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September 15, 2014
15:46 EDTHPQCenturyLink said to have lined up financing for Rackspace, says Betaville blog
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10:22 EDTHPQHP management to meet with Oppenheimer
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08:27 EDTSTXSeagate revenue upside guidance reinforces bullish stance, says Brean Capital
Brean Capital noted Seagate's raised revenue guidance, citing good strength across all drives segments. The firm said they now see new upside to its September quarter and that Seagate could see an incrementally strong December quarter versus the company's original flat forecast, given its current cloud momentum. Brean has a Buy rating with a $70 price target on the stock.
07:19 EDTHPQ, STXSNIA to hold a conference
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September 12, 2014
15:29 EDTHPQHP exploring sale of Snapfish photo service, Reuters reports
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15:26 EDTHPQHP exploring sale of Snapfish photo service, Reuters reports
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12:59 EDTSTXSeagate price target raised to $65 at FBN Securities after FY17 guidance issued
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10:10 EDTSTXSeagate raises September quarter view at analyst day, says Brean Capital
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05:45 EDTSTXSeagate to host conference call
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September 11, 2014
18:30 EDTHPQHP, Russia plead guilty, sentenced for bribing Russian government officials
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16:10 EDTHPQHP acquires open source cloud software maker Eucalyptus
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11:17 EDTHPQEMC seen as potential target after said to mull VMware stake sale
EMC (EMC) is considering selling its 80% stake in cloud computing infrastructure provider VMware (VMW), The New York Post reported today, citing unnamed sources. Calling The New York Post "surprisingly accurate" on M&A news, UBS said the likelihood of change at EMC has increased and it has become a potential takeover target. WHAT'S NEW: EMC is exploring the possibility of selling its stake in VMware, which could be acquired by HP (HPQ), according to one source, The Post reported. EMC could also look to sell other assets, the newspaper quoted a second unnamed source as saying. ANALYST REACTION: UBS analyst Steven Milunovich wrote that he is more convinced in the wake of the Post story that "something is up" at EMC. Although EMC has denied in the past that it would consider selling or spinning off VMware, the company could change its tune, the analyst stated. HP could buy VMware or all of EMC, while Oracle (ORCL) and Cisco (CSCO) are also potential buyers of EMC, Milunovich believes.The analyst kept a $33 price target and Buy rating on shares of EMC. WHAT'S NOTABLE: Activist investor Elliott Management, a hedge fund, has taken a $1B stake in EMC and wants the company to spin off VMware, The Wall Street Journal reported in July. Early last month, research firm FBR Capital wrote that an EMC spin-off of VMware could enhance shareholder value for both companies and make VMware a top acquisition candidate by a larger technology company. The firm kept an Outperform rating on EMC at that time. PRICE ACTION: In late morning trading, EMC was little changed at $29.50, down from its earlier high of $29.89. VMware fell 0.7% to $96.75, down from its earlier daily high of $97.86.
10:30 EDTHPQUBS sees increasing likelihood of change at EMC
UBS calls the New York Post "surprisingly accurate on M&A" after the paper reported that EMC (EMC) is considering the sale of its stake in VMware (VMW). The firm believes the likelihood for change at the company is rising. In addition, UBS says the industry should consolidate, and it views EMC as a potential target. UBS thinks Cisco (CSCO), Oracle (ORCL) and HP (HPQ) might be interested parties in owning part or all of EMC. The firm believes an HP, EMC merger would make sense. UBS has a Buy rating on EMC with a $33 price target.
07:07 EDTHPQEMC to explore selling VMware stake, NY Post reports
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September 10, 2014
08:31 EDTHPQRiverbed names Mike Nefkens, Steffan Tomlinson to board of directors
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08:02 EDTSTXSeagate says has shipped 10 millionth solid state hybrid hard drive
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September 9, 2014
14:04 EDTHPQHP price target raised to $43 from $40 at Argus
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07:17 EDTHPQThe Wireless Association to hold a conference
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