The Buzz

All markets and investing news all the time

Stupid Stock Move of the Day! EMC down?

May 24, 2012: 12:21 PM ET

Storage company NetApp (NTAP) is down 13% Thursday, making it the worst performer in the S&P 500. The company announced earnings after the bell Wednesday and its guidance spooked investors. Rival EMC (EMC) has plunged more than 5% on the news as well.

I don't understand the logic behind EMC's fall though. Many tech investors think EMC is gaining market share from NetApp. So the weaker guidance may not be a sign of corporate IT departments cutting back on storage, it's a sign that they may be shifting more to EMC.

A woman calling herself MinervasMomma over on StockTwits seems to think the move makes sense. She tweeted that "$NTAP implied that $EMC was weaker than they." But hedge fund manager Nicholas Pollari appears to agree with me. I also think it's interesting that EMC just acquired Syncplicity, a company that competes with Dropbox in the cloud-based storage market.

Posted in: , ,
  • Minding your Ps and HPQs

    A whole lot of tech news after hours. A quick recap for you. Pandora reported a smaller-than-expected loss. The online music company also said that revenues topped forecasts. Shares of Pandora (P) surged more than 13% after hours. This is very interesting. The company has been a bit of a disappointment since it went public last year. To be honest, I know more people (me included) who complain about the MORE

    - May 23, 2012 5:02 PM ET
Fear & Greed
Sponsored by

To view my watchlist

Not a member yet?

Sign up now for a free account
Stupid Stock Move of the Day
#StupidStock Move of the Day! $CUBA now up 42%? Raise your hand if you heard of this fund before today. Oh wait. Algos don't have hands.
Powered by WordPress.com VIP.
Follow

Get every new post delivered to your Inbox.

Join 242 other followers