EMC Corp. (EMC) reported another outstanding quarter, reporting $0.23 / diluted share vs. $0.17 by analyst estimates. The quarter includes a $0.06 / share gain on the sale of shares of VMWare to Cisco. Adjusting for the sale brings EMC’s quarter in line with expectations. EMC has authorized an increase in their buyback program from $1B to $2B, or roughly 100 million shares at the current price. The following is their press release: (more…)
Thursday, October 25, 2007
Wednesday, October 10, 2007
EMC Corp Fired Up
To be honest, I’m running out of adjectives to describe what a great run EMC Corp has had. Today, EMC closed at a new 52 week high of $22.57. This is significant in that next week is options expiration week. With $22.50 being a strike price, I would expect EMC to have some sort of support at this level until they report earnings in a couple of weeks. After earnings I would expect EMC to rocket past $23.
Current position in EMC: 17 Nov 22.5 Calls & 1 Happy Dance