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EMC Corporation (EMC)

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  • Jul. 23, 2013, 5:30 PM
    Notable earnings before Wednesday’s open: ABC, AOS, ARMH, ARW, ATI, BA, CAT, CFR, CKSW, CP, CVE, DAL, DPS, ECA, ELN, EMC, EVR, F, GD, GNTX, ICON, LAD, LCC, LL, LLY, MCO, MDCO, MSA, MSI, MTH, NDAQ, NOC, NOR, NYCB, OC, OCR, PCH, PEP, PLD, PVR, PX, RAI, RCI, RDN, RES, RLGY, SAVE, STX, TEL, TMO, TROW, TUP, WLP, WYN
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  • Jul. 23, 2013, 5:17 PM
    EMC +3.6% AH after VMware beats Q2 estimates and issues in-line Q3 and 2013 guidance. The numbers are being very well-received by investors in light of low expectations. EMC delivers its own Q2 report tomorrow morning.
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  • Jul. 11, 2013, 10:24 AM
    EMC (EMC +0.2%) confirms its rumored acquisition of ScaleIO. The price tag for the all-cash deal is undisclosed, but prior reports put it at $200M-$300M. EMC says ScaleIO's software, which allows storage found within servers to be pooled, managed, and moved around like the storage found within arrays, will be added to its flash memory product unit. The unit currently offers flash cards, caching software, and (thanks to the XtremIO deal) all-flash storage systems. Will EMC also encourage using ScaleIO's software with server hard drives, or will it hold off due to fears of cannibalizing storage array sales? (Lazard's take)
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  • Jul. 10, 2013, 6:30 PM
    EMC/VMware (EMC, VMW) roundup: 1) EMC has refreshed its Data Domain and Avamar deduplication products. New mid-range Data Domain systems are said to offer major performance/capacity improvements over existing hardware, and Avamar has been updated to better support Data Domain and virtualization environments. RBC recently reported Amazon's S3 service is pressuring Data Domain. 2) FBN (Outperform) says its end-of-Q2 storage channel checks were better than expected. EMC's Q2 results are due on July 24. 3) Craig-Hallum has cut its VMware estimates. Echoing others on the Street, CH thinks license growth is pressured by market saturation and competition from Amazon, Microsoft's Hyper-V, Cisco's Intelligent Automation and Cloupia, and OpenStack.
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  • Jul. 8, 2013, 9:22 AM
    EMC's RSA security hardware/software unit is buying Aveksa, a developer of tools for managing/controlling access to corporate apps and data, whether on-premise or in the cloud. EMC touts Aveksa's ability to help automate decisions on app/data access based on business context, and its ability to complement RSA's efforts to dynamically set security policies. Both software firms such as Symantec, and next-gen firewall vendors such as Palo Alto Networks, have also been developing tools for managing app access. Sources tell the Times of India the deal's price was above $225M. RSA's sales rose 12% Y/Y in Q1 to $232.3M.
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  • Jul. 3, 2013, 4:10 PM
    Some downbeat EMC reports: 1) A source tells The Register EMC's strategy for object storage is "confusing, flawed, and inefficient … and causing internal fireworks." In addition to its Centera and Atmos lines, EMC's growing Isilon scale-out NAS storage family supports object storage, as does its new ViPR platform for managing EMC and non-EMC hardware/services. 2) RBC reports a software update for EMC's mid-range VNX line has been delayed, and that the company's Data Domain deduplication hardware business (has been growing fast) is "facing incremental headwind" from Amazon's (AMZN) S3 storage service. 3) Network World reports VMware (VMW) sales exec Mike Clayville has left to become Amazon's enterprise cloud sales chief, making him the latest in a line of execs to depart (previous).
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  • Jun. 21, 2013, 2:59 PM
    "We give EMC credit for embracing technology shifts that appear to be disruptive to its legacy businesses," says Lazard's Edward Parker, commenting on reports the storage giant is buying ScaleIO, a company whose software-defined storage (SDS) platform does away with arrays from the likes of EMC, NetApp, IBM, and H-P (provided it makes sense for a deployment). Parker observes there are both array-supporting and array-free approaches to SDS, and that EMC already has the former covered via ViPR. He also notes the storage industry generally has a motto of "if it ain't broken, don't fix it," which could slow the pace at which array-free solutions are adopted.
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  • Jun. 19, 2013, 7:28 PM
    EMC is buying Israeli storage software startup ScaleIO for $200M-$300M, TechCrunch and Geektime report. ScaleIO's software allows storage found inside servers to be pooled and managed like storage arrays on a SAN. This can lead to both cost savings and (esp. when flash memory is used) performance gains. Acquiring ScaleIO would be the latest in a string of moves from EMC to lower its traditional focus on array sales. Last month, EMC announced ViPR, a software platform for managing storage hardware/services from both EMC and rivals, and in March, the company showed off new server flash cards and caching software.
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  • Jun. 13, 2013, 9:49 AM
    Pac Crest lifts EMC (EMC +0.9%) to Outperform and raises its PT to $30 just a day after Craig-Hallum upgraded shares to Buy. EMC has been treading water over the last two weeks after shooting higher on May 30 in response to its new dividend/buyback hikes.
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  • Jun. 12, 2013, 9:12 AM
    EMC +1.3% following an upgrade to Buy from Craig-Hallum. The firm, which is raising its PT to $30 from $26, struck a less positive tone on EMC earlier this year.
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  • Jun. 11, 2013, 2:26 PM
    NetApp (NTAP +0.3%) unveils Clustered Data ONTAP, a version of its proprietary storage OS that has been in development for years, and is aimed at the growing market for "scale-out" storage deployments (often used to support cloud services) in which resources from multiple systems are pooled and jointly managed. NetApp claims the OS supports 99.999% (five-nines) reliability, can scale to support an enormous 69PB storage spread out over 24 controller nodes, and can be closely integrated with VMware and Microsoft's virtualization software. It competes with EMC's thriving Isilon unit, which announced a big update for its OS last month.
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  • Jun. 10, 2013, 7:16 PM
    Storage hardware sales are holding up only a little better than server sales: IDC estimates sales of standalone arrays fell 0.9% Y/Y in Q1, a reversal from growth of 2.3% and 4.7% in Q4 and 2012. Total storage sales (inc. server-attached gear) fell 3.2% after rising 0.7% in Q4.  In the standalone market, IDC thinks #1 EMC had a 30.4% share (+140 bps Y/Y), #2 NetApp (NTAP) 14.9% (+80 bps), #3 IBM 10.9% (-50 bps thanks to a rough quarter), and #4 H-P (HPQ) 9.3% (-100 bps and also not faring well). Also: IDC thinks storage software sales rose 3.2% Y/Y in Q1. #1 EMC's share is pegged at 23.9%, #2 IBM's at 16.8%, and #3 Symantec's (SYMC) at 14.7%. CommVault (CVLT) and Veeam gained more share, growing 23% and 35% Y/Y.
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  • Jun. 7, 2013, 5:25 PM
    EMC (EMC -0.1%) sold $5.5B worth of debt today to help finance its new dividend and aggressive buyback program. Much like the recent debt offerings of other tech blue-chips, the deal terms were favorable: EMC sold $2.5B worth of 5-year notes at a 1.875% yield, $2B of 7-year notes at 2.65%, and $1B of 10-year notes at 3.375%. Last week, the storage giant raised its buyback authorization by $5B to a remaining $5.5B, and promised to spend $3.5B of it by Q2 2014.
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  • Jun. 5, 2013, 4:38 PM
    VMware (VMW, EMC) +1.6% AH after COO Carl Eschenback tries to use a BofA/Merrill conference talk to reassure investors on edge over EMC's cash flow guidance and downbeat sell-side commentary. Eschenbach has reiterated VMware's Q2/2013 guidance and operating cash flow targets (the latter might be below consensus), is optimistic about a 2H demand pickup, and claims the vCloud Suite is seeing good momentum. Shares fell 2.5% in regular trading following Deutsche's downgrade.
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  • Jun. 3, 2013, 4:20 PM
    Though VMware's (VMW -2.4%) management has declared the cash flow guidance recently provided by parent EMC inaccurate (due to differences in accounting), subsequent talks with management "imply that they are not entirely comfortable with Street numbers," says Nomura's Rick Sherlund, following up on his Friday note. Management's remarks suggest op. cash flow growth will match op. income growth - Sherlund had been forecasting the former would grow 15%, and believes the consensus for the latter was 24%. He doesn't know whether the shortfall is due to "high receivables or working capital," or demand issues, but thinks the lack of clarity makes for an "awkward situation." Investors don't seem thrilled either.
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  • May. 31, 2013, 12:51 PM
    VMware's (VMW +1.1%) guidance is unchanged, claims Nomura's Rick Sherlund after talking with management about yesterday's EMC cash flow forecasts, which included VMware forecasts that were well below consensus. Sherlund points out EMC and VMware recognize cash flow differently, and says channel checks point to a roughly in-line Q2. But he is concerned about a dearth of specialists and partners to push VMware's huge vCloud Suite (covers virtualization, data center management, and cloud management software), which underpins the company's efforts to grow in the face of slowing vSphere virtualization software demand.
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Company Description
EMC Corp supports the businesses and service providers to transform information technology (IT) operations to an as a service model (ITaaS). It operates in three segments: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure.
Sector: Technology
Country: United States