EMC Pre-Announces Third-Quarter Financial Results

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Cowen Cuts Price Target on VMware (VMW) Following Dell's Announced Acquisition of EMC

October 12, 2015 3:56 PM EDT

Cowen reiterated an Outperform rating on VMware (NYSE: VMW), and cut the price target to $87.00 (from $90.00), following Dell's announced acquisition of EMC. As part of the deal, Dell will pay EMC shareholders with VMW "tracking stock", or stock that will follow the 19% of... More

Mizuho Securities Downgrades VMware (VMW) to Neutral Following Dell/EMC Deal

October 12, 2015 10:38 AM EDT

Mizuho Securities downgraded VMware (NYSE: VMW) from Outperform to Neutral with a price target of $75.00 (from $95.00) after Dell agreed to acquire EMC.

Analyst Abhey Lamba commented, "We are downgrading the stock to Neutral from Buy, and cutting our PT to $75 from $95. We think... More

EMC Corp. (EMC) Prelim. Q3 Revenue, EPS Misses Estimates

October 12, 2015 7:13 AM EDT

EMC Corp. (NYSE: EMC) announced preliminary third-quarter 2015 results: consolidated revenue is expected to be between $6.05 and $6.08 billion. GAAP earnings per weighted average diluted share is expected to be approximately $0.25. Non-GAAP earnings per weighted average diluted share is expected to be approximately $0.431.

*** The Street sees revenue of $6.25 billion and EPS of $0.45.

Zane Rowe, EMC... More