VMware (NYSE:VMW) Incoming Chief Pat Gelsinger Plans to Boost Expansion – VMW, CTXS, IBM, MSFT Posted on August 28, 2012 by Thomas Vedder The Palo Alto, California-based VMware, Inc (NYSE:VMW) incoming chief executive officer Pat Gelsinger aims to boost expansion by expanding in software for managing computer networks and storage gadgets, boosting rivalry with Cisco Systems, Inc (NASDAQ:CSCO).
VMware’s $1.26 billion purchase of Nicira Inc is part of a strategy Gelsinger labeled the “software-defined data center.”
He reported in a keynote address on Monday at the corporation’s VMworld conference in San Francisco stated that his goal is to supply devices that allow businesses move to cloud computing by more readily shifting network capacity, storage and processing power to applications that need it.
UBS AG analyst Brent Thill reported that Gelsinger was looking to reignite expansion and position VMware to boost a greater share of corporate technology spending by branching out into software that controls additional parts of their data centers, comprising networking gear.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Citrix Systems, Inc (NASDAQ:CTXS) rose +0.22% to settle at $77.17, International Business Machines Corp (NYSE:IBM) moved down -1.05% to end at $195.69 while Microsoft Corporation (NASDAQ:MSFT) jumped +0.43% to finish on Monday at $30.69.
VMware, Inc (NYSE:VMW) on Aug, 27, 2012 increased +0.12% to the closing price of $92.32. The overall volume in the last trading session was 1.56 million shares. Its fifty two week range was $74.69-$93.25. The total market capitalization remained $39.37 billion.
VMW is ahead its 52 week low with +23.60% and lagging behind from its 52 week high price with -22.28%. VMW last month stock price volatility remained 2.98%. In its share capital VMW has 426.47 million outstanding shares among them 87.94 million shares have been floated in market exchange. VMW stock institutional ownership remained 66.50% while insider ownership included +31.34%.