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VMW

VMware, Inc.

5/26/2013, 2:08 AM ET

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Tuesday, May 21, 7:07 PM VMware (VMW, EMC) officially launches its vCloud Hybrid Service, which allows clients to pair on-premise workloads with a VMware-run public cloud infrastructure. VMware claims the service supports more than 90 OS', has high-availability options, and allows public and on-premise workloads to be jointly managed. VMware also says it will offer SAP software, including Hana, "as a subscription service on premise and in the cloud." vCloud Hybrid competes with Amazon Web Services, Microsoft's Azure (perhaps the most direct rival), and Rackspace's OpenStack offerings. ITWorld calls it "ideal for a significant set of enterprise applications," but adds it's "no Amazon killer," given AWS' focus on low cost and ease-of-use. 3 Comments [Tech]
Thursday, May 16, 12:16 PM Cisco JV partner EMC (EMC +4.5%) joins the list of companies rallying in response to Cisco's FQ3 beat and guidance. Cisco mentioned on its earnings call integrated hardware solutions such as Vblock (offered by the Cisco/EMC VCE JV) are driving demand for its UCS servers - Cisco's UCS unit saw 77% Y/Y rev. growth. All in all, it's a good day for enterprise IT names, who are happy to receive some good earnings news after getting plenty of bad news (I, II, III, IV). HPQ +1.7%. IBM +1.3%. ORCL +1.3%. VMW +2.6%. TIBX +4.1%. CTXS +3.9%. CRM +3.8%. JIVE +4.1%. NTGR +2.7%. CVLT +2.6%. INFA +3%. (others rallying: I, II) 1 Comment [Tech, On the Move]
Monday, May 13, 12:53 PM FBR has upgraded Cisco (CSCO +0.3%) to Market Perform ahead of Wednesday's FQ3 report. Less than 2 months after downgrading Cisco and Juniper (JNPR -0.5%) on a belief software-defined networking (SDN) will drastically lower switch/router demand, the firm says talks suggest SDN overlay solutions - Cisco, Juniper, and VMware (VMW) are pushing them - are gaining traction relative to products requiring big hardware changes, and that this should limit near-term sales pressure. Though rivals doubtlessly disagree, Cisco has been arguing its SDN solution can offer superior intelligence, thanks to its integration with Cisco hardware. (switch competition) 1 Comment [Tech]
Thursday, May 9, 12:45 PM Four downgrades are levied on Rackspace (RAX -26.3%) following yesterday's Q1 revenue miss, accompanied by worrying business metrics. Slowing growth and a slumping EBITDA margin (due to price cuts) are problems that will get worse as Microsoft and Google ramp their cloud offerings, argues CLSA, which has cut shares to Sell. The firm adds checks indicate "mid-tier to large firms" are increasingly migrating from hosting to cloud services, and expects OpenStack to be immaterial to RAX's bottom line for the next 1-2 years. Stephens, making a contrarian upgrade to Overweight, thinks "new contract wins are on the horizon," as Rackspace targets enterprises. EQIX -2.2%. COR -4.2%. INXN -3.3%. VMW -2.5%. (transcript) 1 Comment [Tech, Earnings, On the Move]
Tuesday, May 7, 11:41 AM EMC (EMC -0.4%) and VMware (VMW -0.5%) plan to cut 1,800 jobs in a restructuring expected to be finished this year, EMC discloses in its Q1 10-Q. EMC proper expects to cut 1,004 positions (yes, they're that precise), and VMware 800. In January, VMware said it planned to cut 900 jobs in a restructuring; recent asset sales might have lowered that figure. Also: Topeka's Brian White expects EMC to refresh its mid-range VNX storage line at this week's EMC World conference, as well as intro new technology for pooling storage and server resources. (EMC ViPR) Comment! [Tech]
Wednesday, May 1, 11:27 AM VMware (VMW, EMC) continues its housecleaning, selling the assets for its WaveMaker Java cloud app development tool business to startup incubator Pramati (likely for a small sum). The deal comes 2 years after VMware bought WaveMaker, arguing it complements its SpringSource Web app tool unit (now part of the Pivotal Initiative), and 2 months after it unloaded online PowerPoint rival SlideRocket, as it tries to focus on its core virtualization/infrastructure management businesses amidst intensifying competition. Comment! [Tech, M&A]
Wednesday, April 24, 3:59 PM "With Hyper-V and OpenStack becoming more competitive, the core virtualization market increasingly saturated and the macro-economy not showing any signs of robust growth, we continue to remain on the sidelines," writes Craig-Hallum on VMware (VMW -5.9%). Given VMware's light revenue forecasts and Microsoft's boasts of Hyper-V share gains, concerns about virtualization growth seem well-placed. The big question is whether the vCloud Suite, Nicira, and other infrastructure management solutions will compensate. Credit Suisse argues these offerings will fuel a recovery, but Bernstein is concerned they'll impact margins. (GE/Pivotal) (transcript) Comment! [Tech]
Wednesday, April 24, 11:20 AM GE is investing $105M to obtain a 10% stake in EMC (EMC +0.9%) and VMware's (VMW -4.7%) Pivotal big data/app development tool spinoff ahead of an IPO; given the valuations assigned to peers, GE might've gotten a good deal. GE and Pivotal are also forming an R&D partnership "aimed at accelerating GE's ability to create new analytic services and solutions," with an eye towards industrial, energy, and healthcare applications. The announcement comes as VMware declines due to soft guidance marked by slumping license growth. EMC is faring better after reaffirming guidance in spite of a Q1 miss. Comment! [Tech, On the Move]
Tuesday, April 23, 4:17 PM Though VMware's (VMW) Q1 results beat estimates, Q2 guidance is for revenue of $1.21B-$1.24B, below a $1.26B consensus. 2013 guidance is for revenue of $5.12-$5.24B vs. a $5.21B consensus. License revenue is expected to grow 6%-9% in 2013, compared with total revenue growth guidance of 11%-14%. License revenue rose only 1% Y/Y in Q1, whereas total revenue (lifted by services) rose 13%. VMW -6.2% AH. EMC -2.3%. CC at 5PM ET (webcast). (PR) Comment! [Tech, Earnings, On the Move]
Tuesday, April 23, 4:03 PM VMware (VMW): Q1 EPS of $0.74 beats by $0.04. Revenue of $1.19B (+13% Y/Y) beats by $0.01B. Shares -7.8% AH. (PR) Comment! [Earnings, Breaking News, Tech, On the Move]
Tuesday, April 23, 12:10 AM Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI Comment! [Earnings]
Monday, April 22, 5:35 PM Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI Comment! [Earnings]
Monday, April 22, 8:03 AM CLSA gives VMware (VMW) a 2-notch downgrade to Underperform just a day before the virtualization giant delivers its Q1 report; the firm's PT has been lowered to $75 from $101. Between VMware's light guidance and soft results from Oracle, SAP, Red Hat, and IBM, expectations have fallen some. UBS offered a more upbeat take last week. Microsoft delivered strong results for its Server & Tools unit last week, but also claimed its Hyper-V virtualization platform was gaining share. Comment! [Tech]
Monday, April 15, 1:03 PM VMware (VMW +0.3%) trades slightly higher on a down day, and manages to lift parent EMC (EMC +0.3%) in the process, after UBS says its Q1 checks indicate license revenue (a major concern following the company's light Q1/2013 guidance) will beat expectations. The firm maintains a Buy and $115 PT. VMware reports after the close on April 23, and EMC the following morning. Comment! [Tech, On the Move]
Tuesday, April 9, 12:30 PM Groupon (GRPN -1%) hires Sri Viswanath, until recently the head of VMware's (VMW) mobile R&D efforts, to be its SVP of engineering and operations. The hiring comes as Groupon invests heavily in creating a broad assortment of local commerce tools/services for merchants, as its mainstay daily deals business continues to slump. (PR) Comment! [Tech]
Thursday, April 4, 4:38 PM F5 (FFIV) resumes trading and is currently at $75.85, down 16.1% AH in response to its FQ2 warning, which (in the wake of Oracle's results) is bound to heighten concerns about U.S./European enterprise IT demand. Rivals and peers are off in sympathy: CSCO -2.3%. RVBD -3.7% CTXS -3.7%. JNPR -5.1%. VMW -2.2%. EMC -0.9%. RHT -1.7%. Comment! [Tech, On the Move]

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