Irreverence
Cisco not buying EMC
posted on 07 August 2008 13:45
No news is bad news - for stock speculators
In a TV interview Cisco CEO John Chambers said Cisco is not looking to buy EMC, thus dashing the hopes of EMC stock speculators.
EMC's stock price rose last week as speculators purchased options based on thoughts that EMC could be bought or be about to spin-off VMware.
Cisco was the supposed acquirer and it's just removed itself from the field. So our option gamblers are left hoping for a VMware spin-off, something wich EMC CEO Joe Tucci has not ruled in but not ruled out either.
[Chris Mellor.]
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