Dell to Buy EMC for $67 B, VMware Plunge

Mukesh Buch
12 Oct, 2015
New York City

Boeing agreed to acquire the Germany-based Peters Software. Dell agreed to acquire EMC for about $67 billion. PTC agreed to buy Vuforia from Qualcomm. Staples agreed to extend the review period for Office Depot. VMware plunged on weak forecast.

[R]12:15 PM New York – Boeing agreed to acquire the Germany-based Peters Software. Dell agreed to acquire EMC for about $67 billion. PTC agreed to buy Vuforia from Qualcomm. Staples agreed to extend the review period for Office Depot. VMware plunged on weak forecast.[/R]

Tollbooth Index increased 26.33 or 0.3% to 10,584.28.

Earnings Review

Boeing Co ((BA)) rose 7 cents to $139.76 after the aerospace company agreed to acquire the Germany-based early-stage pilot-training software developer Peters Software without disclosing terms.

Dell Inc, the privately held computer maker today agreed to acquire the data storage company EMC Corp in a deal valued at about $67 billionin cash and stock.

PTC Inc ((PTC)) gained 11 cents to $34.78 after the software developer agreed to acquire the Vuforia unit, including the developer ecosystem from Qualcomm Connected Experiences, Inc. a subsidiary of Qualcomm Inc for about $65 million.

The transaction is expected to close by the end of December.

Staples, Inc ((SPLS)) rose 3 cents to $12.39 after the office products retailer agreed with the Federal Trade Commission to extend the review period for takeover of Office Depot Inc for about $6.3 billion.

The deal is now expected to be finalized by December 8.

SunCoke Energy Inc ((SXC)) tumbled 27.6% or $2.69 to $7.06 after the high-quality coke producer said revenues in the third-quarter ending in September declined 40.1% from a year ago to $336.9 million.

Net loss in the quarter widened to $23.5 million or 36 cents per diluted share compared to $3.6 million or 5 cents from the same quarter last year.

VMware, Inc ((VMW)) plunged 11% or $8.65 to $70 after the virtualized infrastructure solution provider forecasted revenues for the third-quarter ending in September to jump to $1.67 billion and net income per diluted share to soar 35% to 60 cents.