Feeds
The board of Data Domain asked Thursday that shareholders defer a decision on EMC Corp.'s offer to buy the company for $1.8 billion in cash until it can review the bid.
EMC Corp.'s first-quarter profit dropped 23 percent on weakness in data-storage spending, which until recently had been fairly resilient to the recession and is forcing the company into more cost cuts. But CEO Joe Tucci predicted that slumping information technology spending "has reached or is very near the bottom" and should rebound in the second half of this year.
EMC Corp.'s first-quarter profit dipped 14 percent on acquisition-related charges, but the data storage vendor managed to post a double-digit revenue gain amid a slow U.S. economy.
EMC Corp.'s majority ownership of VMware Inc. gave EMC's long-stagnant shares a boost last year, but the relationship soured Tuesday as VMware's slowing growth obscured a strong EMC earnings report.
EMC Corp., which is enjoying a resurgence in its stock after spinning off fast-growing software maker VMware Inc., got another boost after reporting a hefty increase in its third-quarter profit — news that sent EMC's shares to a new six-year high of $24.61.
EMC Reaches Agreement To Buy IomegaEMC Corp. reached a deal to buy data-storage firm Iomega Corp. for $213 million in cash, scuttling a deal Iomega had made previously with a group of Chinese companies.
EMC reworks for DeWalt's exitEMC Corp has performed a minor shuffle of its executives to plug the gap that will open when the company's executive VP David DeWalt leaves his post shortly.
Log In | Register
