Disappointed Investors Drive VMware Stock Down 30 Percent
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Shares of software-maker VMware, a high-flying stock that soared after an impressive public offering in 2007, were down more than 30 percent Tuesday, as investors responded to weak fourth-quarter earnings.
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Stocks turned sharply negative as shares of financial services companies slid with traders citing rumors of more financial problems at Countrywide Financial.
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Showing just how hot the virtualization market has become, Intel has taken a minority stake in VMware, now owned by enterprise storage company EMC. Intel is investing $218.5 million for 2.5 percent of all outstanding VMware common stock, and will gain control of one board seat.
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EMC Corp. of Hopkinton is selling a $218.5 million stake in its VMware Inc. software subsidiary to chip maker Intel Corp. The move comes as EMC prepares to raise up to $949 million by selling about 10 percent of VMware to the public.
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Technology stocks sank Friday after Intel Corp., the world&#39;s largest chipmaker, disappointed investors by slashing its revenue forecast.
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Not a good Q2 Red Hat was grilled by Wall Street today on plans its for JBoss after profits took a nose-dive in Q2.â¦
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Business & money: Investors ploughed money into metal on back of concerns about dollar weakness and US slowdown
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Great news -- your stock just got downgraded!
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Stocks fell on Friday after Microsoft Corp.'s  chief executive said analysts' revenue forecasts for the Vista operating system were overly aggressive and weak housing data prompted economic worries.
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Investors are dumping tech stocks with abandon. As for Overland Storage, it is a buyer.
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Technology shares fell on Friday as  Microsoft Corp. MSFT.O dragged on the Nasdaq after the  software maker's revenue forecast late on Thursday lagged  analysts' expectations. Blue chips were little changed.
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Big valuation, leaky moat, and a large shareholder fleeing. Any takers?
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Just three months ago, investors of technology stocks watched values plummet after some 20 software companies warned Wall Street that sales would remain lackluster in what turned out to be a brutal second quarter.
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U.S. tech stocks fell on Monday as investors worried that Microsoft Corp.'s new Vista operating system may not be enough to sustain the recent rally in the company's share price.
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Stocks fell for a third straight session on Friday as concern over rising defaults in the subprime mortgage industry sent financial shares to their worst decline in a month.
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Piper Jaffray downgraded the software maker's stock to  "market perform" from "outperform."
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The maker of corporate data storage equipment, forecast better-than-expected 2008 revenue, but its shares fell after the VMware unit missed growth estimates.