EMC Corp., the world’s biggest maker of storage computers, forecast first-quarter profit that trailed analysts’ estimates as the company plans to take charges tied to the elimination of about 1,000 jobs.
VMware Inc. rose the most in more than four years after the software maker reported second-quarter sales and profit that exceeded analysts’ projections, helped by customers’ renewal of multiyear licenses.
Just three years ago, EMC Corp. was considered takeover bait. How things have changed: Since then, the world’s biggest maker of storage computers has made 15 acquisitions and its mergers team is figuring out how to use $5.65 billion in cash to bulk up in security technology.
VMware Inc., the biggest maker of software that lets computers run multiple operating systems, gave a forecast for second-quarter sales that fell short of analysts’ projections as business customers trim spending.