EMC Corp. shares declined the most since May 2012 after third-quarter profit fell short of analysts’ estimates and the company cut sales and earnings forecasts for the year amid a drop in U.S. government spending.
When Michael Dell took his company public in 1988, the personal-computer maker’s biggest competitors were International Business Machines Corp., Compaq Computer Corp. and Gateway 2000. The headstrong founder was later quoted joking that his daughter’s first words were to “kill IBM” and his other rivals.
Hewlett-Packard Co., facing investor frustration over sales-forecast cuts and jarring strategy shifts, is considering replacing Chief Executive Officer Leo Apotheker, two people familiar with the matter said.
Dell Inc. reported results that underscore the challenges facing the company amid a decline in personal-computer sales, whatever the outcome of a vote next month on Michael Dell’s $24.9 billion plan to go private.
The four largest U.S. railroad companies won their bid to reverse a ruling that turned a price- fixing lawsuit against them by shippers into a group lawsuit with potential damages of at least $10 billion.
Elliott Management Corp. took a significant stake in NetApp Inc., pressing the data-storage company to change its board and study options to boost shareholder value, people familiar with the situation said.