Vmware Management Changes - 21-07-2016
- VMware (VMW) stock jumped Tuesday as a beat-and-raise quarter eased worries over management changes, amid parent EMC's (EMC) sale to privately held Dell.
EMC shareholders are meeting Tuesday to vote on Dell's $60 billion offer, and approval is expected.
VMware President Carl Eschenbach, CFO Jonathan Chadwick, and Martin Casado, a vice president, all recently left the company.
Late Monday, VMware reported Q2 earnings and sales that exceeded analysts' estimates, and it also raised its forecasts. VMware stock ended trading up 9.1% on the stock market today, at a nine-month high above 68.
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