VMWare ACQUIRES New CEO and 4 Chip and Big Data Stocks on the Move
Intel Corporation (NASDAQ:INTC), who is going to issue its Q2 report later today, is acquiring Whamcloud, a supplier of advanced file system software for supercomputers. This is the latest in a number of moves showing Intel’s increasing supercomputer ambitions. The company’s coming release of Q2 results come amid analyst forecasts that net EPS dropped to $0.52 from $0.54 despite a 4.1 percent increase in revenue to $13.56 billion. Numerous analysts have trimmed their estimates lately due to concern regarding effects from the U.S. and Chinese economies, the Eurozone crisis, dropping PC sales, Intel’s mobile position, and elevated ultrabook prices. The shares traded up $0.19 (0.76%) recently at $25.32.
Don’t Miss: Microsoft’s Earnings SNEAK PEEK.
Broadcom Corp. (NASDAQ:BRCM) dropped in early Tuesday trading following electronics manufacturer Samsung’s report that it is purchasing CSR’s handset connectivity operations, including CSR’s mobile connectivity technology and patents. However, Deutsche Bank reported to investors that it thinks worries about share losses at the semiconductor maker are overblown and pointed out that the duration of the development and evaluation lifecycle necessary for handsets would make a move from Broadcom chips improbably in the near future. Shares of Broadcom dropped $1.37, or 4.45 percent, to $29.44 in late-morning trading. The shares traded down $1.44 (4.67%) recently at $29.37.
EMC Corporation (NYSE:EMC) exec Pat Gelsinger will take over for Paul Maritz as CEO of VMware, according to the Wall Street Journal’s report based on word from people close to the matter. Maritz will now be vice chairman at EMC, along with EMC CEO Joe Tucci staying in his position. EMC controls a majority stake in VMware. Shares of EMC traded down $0.48 (2.06%) recently at $22.81.
SanDisk Corp. (NASDAQ:SNDK) shares were 2 percent lower Monday afternoon. Baird analyst Tristan Gerra lowered the stock to neutral due to “continued weakness” in the NAND flash memory chip market and “weaker-than-expected” calls for solid states drives and NAND flash “content in Ultrabooks is tracking far below expectations.” SanDisk shares traded up $0.47 (1.45%) recently at $33.28.
VMware, Inc. (NYSE:VMW) may have a big shakeup soon that includes replacing CEO Paul Maritz and spin-off Cloud Foundry, its well-regarded open source cloud-building platform, unnamed sources report. Shares traded down $3.90 (4.62%) recently at $80.51.
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