Boston, MA 07/22/2014 (wallstreetpr) – A leading data storage, solutions and services provider in IT sector, EMC Corporation (NYSE:EMC) is facing a tough choice. EMC’s fifth largest shareholder, Eliott Management Corporation with around 2% stake is persuading EMC to spin off VMware, Inc. (NYSE:VMW). EMC is a holder of nearly 80% of VMW, having market capitalization worth $41 billion.
According to Eliott Management, EMC’s VMW unit is acting as an impediment to the stock’s performance of the company thereby giving it a substantial boost. Presently, EMC is operating three business including data storage system, VMware and Pivotal. EMC core business is facing rough winds owing to the high demand of cloud-based storage and flash storage systems. EMC Corporation (NYSE:EMC)’s sales and net income have also declined. Thus, in the current situation, Eliott is also hopeful of increased interest of tech giants in the company in case of a favorable split-off.
Wal-Mart Stores, Inc. (NYSE:WMT): Cut Down on Prices
Wal-Mart Stores, Inc. (NYSE:WMT) has revealed its aggressive plans to cut its piece during 2014 back-to-school season. The company is scheduled to add its inventory to its online store for attracting the target customers. WMT’s Executive Vice President for general merchandise, Steve Bratspies, highlighted the company’s plan to reduce prices of around 10% more items. WMT is expecting its online sales to grow by 30% to 75K in recent. Bratspries remarked, “Prices is going to be extremely important for us as it’s about the best prices on large assortment.”
One of the leading charter owners of containerships, Seaspan Corporation (NYSE:SSW) has recently revealed the news of release of its 2Q2014 results. The company is geared up to unveil its financial results for the second quarter on July 28, 2014 after market close. Additionally, SSW will also host a conference call to discuss its financial results for its shareholders and interested parties. The call is schedule to begin at 9:00 a.m. on 29 July, 2014.
