Moody's Places Dell's Ratings Under Review Following Move to Acquire EMC (EMC)

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

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

EMC's (EMC) Senior Unsecured Rating Placed on Review by Moody's Amid Dell Offer

Moody's Investors Service ("Moody's") placed EMC Corporation's (NYSE: EMC) A1 senior unsecured rating under review for downgrade following today's announcement that it will be acquired by Dell Inc. (Ba2 CFR, rating under review for upgrade) for $24.05 per share in cash in addition to tracking stock linked to a portion of EMC's economic interest in the VMware, Inc. for a total transaction value of about $67 billion. Moody's expects to conclude the review upon the close of the... More

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

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

OpCo Thinks That Everybody but Citrix Benefits from the Dell/EMC Deal

Oppenheimer analyst, Ittai Kidron, thinks the Dell/EMC deal could have a far reaching impact on the storage and networking industries, affecting both large and small players. His thesis revolves around the following 4 points:

When it comes to storage, Cisco (NASDAQ: CSCO), a serial acquirer has pursued a partnership strategy but that may change. Cisco now needs to... More

S&P Affirms Corp. Credit Rating on Dell Amid Move to Acquire EMC (EMC)

Standard & Poor's Ratings Services today said it affirmed its 'BB+' corporate credit rating on Dell Inc. The outlook is stable.

At the same time, we placed our 'BBB' rating on the senior secured credit facilities of Dell International LLC, a wholly-owned subsidiary of Dell, on CreditWatch with negative implications. We also placed our 'BB+' rating on Dell's senior unsecured notes on CreditWatch with negative implications. Details of the financing terms, including the amount of total debt issuance, the amounts of secured compared to unsecured debt, and the amounts to be issued at each borrowing entity (with possible... More