Seeking Alpha

Nimble Storage, Violin Memory higher after SanDisk/Fusion-io

  • SanDisk's $1.1B deal to acquire PCIe server flash module leader Fusion-io is giving a lift to hybrid storage array vendor Nimble Storage (NMBL +3.7%) and flash array vendor Violin Memory (VMEM +2.5%).
  • Nimble also might be benefiting from an upgrade to Outperform from Macquarie. Shares failed to get a boost on Friday from an upgrade to Strong Buy from Raymond James. Both moves follow the end of Nimble's lockup expiration last Wednesday.
  • Struggling Violin was reported in February to have held buyout talks with several firms. Activist investor The Clinton Group, which once had been calling for a sale, struck a deal with management in April.
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