EMC Buys Stock in VMware and 4 Chip and Big Data Stocks on the Move
Broadcom Corp. (NASDAQ:BRCM): Hyundai has showcased their new Connectivity Concept through the use of smartphones and Near Field Communication technology. Hyundai has stated that this new technology will be seen in future cars and will likely be ready by 2015. To see this technology through, Hyundai has entered into a joint agreement with Broadcom Corporation to power these connected cars.
ARM Holdings PLC. (NASDAQ:ARMH): In the near term, ARM Holdings could benefit from a fresh wave of bullish notes if their stock continues to outperform. Five out of twelve analysts still maintain “hold” or “strong sell” suggestions toward the outperforming equity. Plus, the consensus 12-month price target of $35.97 represents a discount to Monday’s closing price of $37.51.
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Rackspace Hosting, Inc. (NYSE:RAX): Piper Jaffray reaffirmed their overweight rating on shares of Rackspace Hosting, Inc. in a research note released on Wednesday morning. They currently have a $77.00 price target on their stock.
EMC Corporation (NYSE:EMC): The data storage products and services corporation EMC bought $3,213,344 worth of stock in VMware (NYSE:VMW) which specializes in virtualization and cloud infrastructure for major companies. This follows three purchases of over $6 million last week.
SanDisk Corp. (NASDAQ:SNDK): In a study of analyst recommendations at the major brokerages for the underlying components of the S&P 500, Marathon Oil Corp. (NYSE: MRO) has taken over the #128 spot from SanDisk Corp.