Investor PM: Tech stocks run in place
The Nasdaq slipped Tuesday, unable to continue the previous session's stellar 5 percent gain. The tech-heavy index did manage to close above the 2,300 mark, down 8.
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EMC co-founder to sell $400M in shares
The co-founder of storage maker EMC and his wife have filed to sell 10.1 million shares of stock in the company, according to documents filed with the Securities and Exchange Commission on Monday.
Investor PM: EMC, Sun drag Nasdaq down 3 percent
Sun Microsystems and EMC led the Nasdaq down 3 percent Tuesday after a Goldman Sachs analyst said the companies are unlikely to meet growth targets. The Nasdaq shed 75.
Investor Midday: Sun, EMC depress techs
Sun Microsystems and EMC led the Nasdaq lower at midday Tuesday after a Goldman Sachs analyst said the companies are unlikely to meet growth targets. The Nasdaq shed 49.
New EMC president former Wang CEO
EMC Corp. EMC (NYSE:EMC), which makes enterprise storage systems, named Joseph M.
Hitachi Data Systems taps new CEO
Hitachi Data Systems has named Shinjiro Iwata as its new chief executive and declared its intention to displace EMC as the top storage company by 2004. Iwata, a 29-year veteran of HDS parent company Hitachi, spent four years at HDS, where he helped to create the alliance with Hewlett-Packard that propelled the company's high-end storage systems into mainstream use.
EMC slices research budget
Storage maker EMC plans to cut back on research and development spending, as it tries to pare costs and stem mounting losses. EMC, one of the dominant technology companies in recent years, has struggled mightily amid the technology slowdown, while pricing pressures have mounted from competitors such as IBM and Hitachi Data Systems.
Sun and EMC downgraded due to spreading weakness
Sun Microsystems Inc. and EMC Corp. are being punished for the bad performance of their peers.
EMC cuts growth targets
Data storage giant EMC said Wednesday its first-quarter earnings will fall short of Wall Street estimates amid a slowdown in information technology spending. The company also cut its growth projections for 2001.
Software stocks buried on warnings
Software stocks were leveled as the markets absorbed a landslide of profit warnings from the likes of Ariba, Broadvision, Epiphany, Documentum, Inktomi and MicroStrategy. A slew of e-business software companies warned after the bell Monday night, making Tuesday a dark day as Wall Street analysts slashed earnings targets and ratings on the entire sector.