49.05 0.00 (0.00%)
After hours: 4:41PM EDT
|Bid||48.02 x 1000|
|Ask||49.35 x 1300|
|Day's Range||48.78 - 49.63|
|52 Week Range||41.58 - 70.55|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...
Editor's note: InvestorPlace's Earnings Reports to Watch is updated weekly. Please check back next week for our latest earnings picks.The earnings calendar turns to retail next week. And that might not be a good thing for the sector.To be sure, Walmart (NYSE:WMT) did post a strong Q2 report on Thursday, with raised full-year guidance leading WMT stock to rally 6%. But that followed a disastrous report from Macy's (NYSE:M), which cut its outlook and saw its stock plunge to a post-financial crisis low.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat split isn't a surprise to anyone who has followed the retail industry in recent years. Those companies with the scale to manage through a quickly changing environment have been able to at least survive, if not thrive. (Walmart stock, for instance, has roughly doubled from late 2015 lows.) Smaller operators, with few exceptions, have taken a beating. * 10 Best Stocks to Buy and Hold Forever Earnings reports next week seem unlikely to change that trend. But specialty retailers like Gap (NYSE:GPS) and department store operators Kohl's (NYSE:KSS) and Nordstrom (NYSE:JWN) will do their best to fight the tide. Meanwhile, three more leaders in the sector will try and keep pace, while a struggling tech giant attempts a turnaround of its own. Broad markets will struggle with their own external challenges, but retailers, in particular, have a big week ahead. Home Depot (HD)Source: Shutterstock Earnings Report Date: Tuesday, Aug. 20, before market openFiscal second-quarter earnings from Home Depot (NYSE:HD) will be closely watched. After all, Home Depot sits at the intersection of several of the fears rattling the market right now. Investors are worried that a recession is coming: Any weakness in consumer demand could be reflected in Home Depot sales.Increased -- and then delayed -- tariffs have amplified those cyclical concerns. Home Depot said after Q1 that it was working to mitigate the impact of those duties, but still forecast a potential impact of $1 billion annually.HD stock already has pulled back about 8% amid those worries. Any weakness in Tuesday morning's report could add to the declines.Meanwhile, rival Lowe's Companies (NYSE:LOW) follows on Wednesday. If both reports disappoint, that would be a signal that even two of the country's strongest retailers aren't immune to external factors. And that would be a big problem for the rest of retail, and maybe even the rest of the market. Target (TGT)Source: Mike Mozart via Flickr (Modified)Earnings Report Date: Wednesday, Aug. 21, before market openFor Target (NYSE:TGT), Wednesday morning's report will help answer which side of the retail divide the company sits. Is Target a real competitor to the likes of Walmart and Amazon (NASDAQ:AMZN)? Or is it not quite large enough, or strong enough, to completely determine its own destiny?Trading in TGT stock over the past few quarters shows that investors haven't quite figured out which side to take. Target stock touched $90 less than a year ago and was at $60 three months later. A 25% rally so far this year shows some confidence, while an ~8% drop in recent weeks (not coincidentally similar to that of HD stock) reflects the rising external risks.And so this seems like an important, and maybe even crucial, earnings report for Target. Walmart's blowout quarter sets the bar high. Target has tariff and macro issues of its own. The stock is cheap enough that it can rise if margins keep expanding. But it's expensive enough that it can fall if they don't. * 10 Cheap Dividend Stocks to Load Up On In short, the question is whether Target is a retail leader? Wednesday's report will help answer that question. VMWare (VMW)Source: Sundry Photography / Shutterstock.com Earnings Report Date: Thursday, Aug. 22, after market closeKey earnings reports next week go beyond the retail space. Software developer VMWare (NYSE:VMW) has an important report on Thursday afternoon. And it won't just impact VMW stock.VMWare earnings will move shares of Dell Technologies (NASDAQ:DELL) whose majority stake in VMWare is worth more than its current market capitalization. (Dell has earnings of its own, but VMWare numbers will be the big mover.) Meanwhile, the company's reported interest in Pivotal Software (NYSE:PVTL) could be a topic of conversation on the post-earnings conference call.But the Pivotal deal and Dell's potential plans for its VMW stake are just noise. VMWare simply has to stem the bleeding. The stock has dropped by 30% just since May. Here, too, cyclical fears are a factor, but soft fiscal first-quarter earnings in late May didn't help the cause. At 20x forward earnings, VMWare stock can rally if the company can deliver. At the moment, however, that seems like a big if.As of this writing, Vince Martin is long shares of Gap, Dell and is short call options in VMWare. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post 3 Earnings Reports to Watch Next Week appeared first on InvestorPlace.
It's no shocker, but Thursday has been another volatile trading session. Following Wednesday's action -- where the Dow Jones Industrial Average fell 800 points and the Nasdaq Composite tumbled 3% -- it was a mixed session in the stock market today. It wasn't exactly the rebound that bulls were hoping to muster given the massive declines experienced a day prior.The stock market got off to a quick rally on the day, took an afternoon spill and then regained its footing. The SPDR S&P 500 ETF (NYSEARCA:SPY) rallied roughly 0.4%, the PowerShares QQQ ETF (NASDAQ:QQQ) was mostly flat and the SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) finished higher by about 0.6%.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Movers in the Stock Market TodayShares of Pivotal Software (NYSE:PVTL) erupted almost 70% to just over $14 after it was announced that VMWare (NYSE:VMW) intends to acquire the company at $15 per share. The interesting thing is that VMW -- which is down about 7% on the announcement -- is trying to get Dell Technologies (NYSE:DELL) to exchange its B shares for A shares.General Electric (NYSE:GE) stock fell quite a bit on the day, although recovered off its lows. Shares finished lower by over 11% after a whistleblower called GE "meritless" for hiding financial problems. Accounting issues are never a good sign, and it's no wonder investors sold the stock as a result. However, management has already disputed the claim, calling it market manipulation. * 10 Stocks Under $5 to Buy for Fall Cisco Systems (NASDAQ:CSCO) took it on the chin Thursday, falling over 8% after disappointing quarterly results. While earnings and revenue results came in ahead of expectations, guidance came up a bit short. The stock blew through all sorts of significant support levels, leaving CSCO stock flailing in no man's land. Macro headwinds continue to create problems for U.S. companies and Cisco is the latest one.Alibaba (NYSE:BABA) initially jumped 5% in early Thursday trading. However, the stock closed higher by about 3% after a late-session jump. The action comes after Alibaba reported a top- and bottom-line beat and showed strength in its underlying business. Analysts liked the quarter too, praising the results and maintaining price targets significantly above current levels.(Here's how to trade Alibaba, by the way).What Canopy Growth (NYSE:CGC) investors would give to have the same post-earnings reaction as Alibaba. Shares are getting crushed Thursday, down about 15% after an earnings and revenue miss. A loss of $3.70 per share took investors by huge surprise, thanks to extinguishing warrants with Constellation Brands (NYSE:STZ).However, management did not provide an adjusted earnings result, causing concern and confusion among investors. Revenue came up short too. It was a lose-lose report and now shares are at their lowest point since the start of 2019.The demand for bonds remains intense, as the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) continues to press higher. The ETF hit a new 52-week high on Thursday and the upside volatility continues to cause investor concern in the equity market in the short term. Key Levels to Watch Above is a chart of the SPY ETF, representing the S&P 500. With Thursday's afternoon decline, the August lows near $281.72 were almost tested. Buyers stepped in early enough to prevent it, but many traders are hesitant to buy without the SPY not testing the 200-day moving average.A test of the 200-day would "clear the air" for a lot of investors, so to speak. It would also give investors a pullback down to the 38.2%. Seeing how SPY reacts to this level would help investors gauge what type of environment we're working with.The 20-day is now below the 50-day moving average, indicating that the short-term trend is now more bearish. If the August lows hold, see if the SPY can reclaim the 100-day moving average (not shown above) at $239.40.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks Under $5 to Buy for Fall * 5 Stocks to Avoid Amid the Ongoing Trade War * 7 5G Stocks to Buy Now for the Future The post Stock Market Today: GE, Cisco and Canopy Make Wild Moves appeared first on InvestorPlace.
Investment company MSD Capital (Current Portfolio) buys Dell Technologies Inc during the 3-months ended 2019Q2, according to the most recent filings of the investment company, MSD Capital. Continue reading...
M&A news for Thursday includes VMware (NYSE:VMW) announcing that it is looking at a deal to acquire Pivotal Software (NYSE:PVTL).Source: Sundry Photography / Shutterstock.com The M&A news surrounding the two companies has PVTL stock taking off. However, it looks like the talks are still in the early stages. The information from VMware doesn't provide much in the way of details, but Dell Technologies (NYSE:DELL), which controls both companies, has a little more to say.Currently, Dell Technologies wants a deal that values shares of PVTL stock at $15 each. This represents a roughly 81% premium over the stock's closing price on Wednesday. It would also value the company at around $4 billion. The two are also working on an exchange rate for Class B shares of PVTL stock for Class A shares of VMW stock, Reuters notes.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHere's what VMware has to say about the M&A news."VMware regularly evaluates potential partnerships and acquisitions that would accelerate our strategy. Pivotal is a long-term strategic partner and we're already successfully collaborating to help enterprises in their application development and infrastructure transformation." * 10 Stocks Under $5 to Buy for Fall VMware goes on to note that this M&A news doesn't mean that there is going to be a deal. Instead, it says that its Board of Directors will continue to work with the best interest of VMW shareholders in mind. It also won't be providing anymore updates unless it reaches an agreement with Pivotal Software.PVTL stock was up 68%, VMW stock was down 6% and DELL stock was down 4% as of Thursday afternoon. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks Under $5 to Buy for Fall * 5 Stocks to Avoid Amid the Ongoing Trade War * 7 5G Stocks to Buy Now for the Future As of this writing, William White did not hold a position in any of the aforementioned securities.The post M&A News: Pivotal Software (PVTL) Stock Skyrockets on VMware Deal Talk appeared first on InvestorPlace.
Both Pivotal and VMware are controlled by Dell Technologies—and the deal would have the effect of simplifying Dell’s ownership structure at a time when the value of Dell’s VMware stake vastly exceeds Dell’s market cap.
Pat Gelsinger, CEO of VMware, thinks four "tech superpowers" will transform the world. Those who adapt to them will thrive in the next wave of business.
Pivotal shares jumped 63% to $13.60, while shares of VMWare were down about 3% at $148.25 in extended trading. Dell is the controlling stockholder for both the companies. Dell's shares dropped 1.65% to $47.80 in after-market trading on Wednesday.
VMware plans to acquire Pivotal, which has struggled since its 2018 IPO, for an 81 percent premium over its recent stock price.
Pivotal Software Inc. shares soared more than 70% higher in after-hours trading Wednesday as its corporate parents looked to acquire the struggling software company for a large premium. Pivotal, which went public as a spinoff from VMware Inc. and EMC and is now majority owned by Dell Technologies Inc. , is discussing being acquired by VMware for $15 a share, according to a filing with the Securities and Exchange Commission. VMware confirmed the filing with a news release Wednesday afternoon, acknowledging "ongoing discussions between special committees at VMware and Pivotal around a potential transaction." The transaction includes discussions with Dell -- which owns nearly 65% of Pivotal and more than 80% of VMware -- about converting its class B Pivotal shares to class A shares. Pivotal shares have been in a severe tailspin since the company's last earnings report, falling 57.9% in the past three months, and closed Wednesday at $8.30. In the extended trading session Wednesday, Pivotal shares were going for more than $14.
Shares of Pivotal Software, Inc. jumped in after-hours trading Wednesday after it was disclosed that VMware, Inc. is in talks to acquire all of its Class A shares for $15 each. Dell said in the filing that it is in discussions with VMware as well to determine an exchange ratio to convert all the Class B shares of Pivotal it holds to Class A shares. In a statement, VMware confirmed talks are underway, but said it would have no further comment unless and until an agreement is reached.
From the beginning of June to late July, NVIDIA (NASDAQ:NVDA) was on the comeback trail. Nvidia stock went from $134 to $179 during this period.Source: Shutterstock Yet lately things have come undone. Of course, the overall market has been bearish and the situation with U.S.-China relations have deteriorated quickly. So yes, the Nvidia stock price has come under lots of pressure.In fact, for the past 12 months, the return is an awful -39%. This is certainly in stark contrast to the prior years when Nvidia could do no wrong.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo what now? Perhaps NVDA is an opportunity here? Well, on Thursday the company will report its results for the second quarter after the market closes, and this will certainly be an important one. * 15 Growth Stocks to Buy for the Long Haul Here's what the Street is looking for: * Revenues are forecasted to drop by 18% to $2.55 billion (keep in mind that the company's own estimate is for a range of $2.5 billion to $2.6 billion). * Earnings are expected to come to $1.14 per share.Even with the estimated decline on the top-line, NVDA still may have a challenge in beating the forecast. The data center business appears to still be languishing, especially given the impact from rival Advanced Micro Devices (NASDAQ:AMD). The gaming business also continues to have problems.Here's what Instinet analyst David Wong wrote:"With data-center (GPU) sales growing just 4% QoQ in the October 2018 quarter, then falling 14% sequentially in the January 2019 quarter and a further 7% QoQ in the April 2019 quarter (April 2019 down 10% YoY), we expect another YoY decline in data-center segment revenues in the July 2019 quarter and possibly again in the October 2019 quarter." Nvidia Stock Quarterly HighlightsNVDA definitely had an active quarter. Here are some of the notable announcements: * The company said that partners like Dell Technologies (NYSE:DELL), HP (NYSE:HPQ), Lenovo and BOXX will release ten new NVIDIA RTX Studio laptops and professional-grade mobile workstations. They will highlight new capabilities like real-time ray tracing, advanced AI and ultra-high-resolution video editing. * At the SIGGRAPH conference, NVDA announced that top software developers, such as Adobe (NASDAQ:ADBE) and Autodesk (NASDAQ:ADSK), have created over 40 applications for the RTX technology. * NVDA launched various new GPUs, including GeForce RTX 2060 SUPER, GeForce RTX 2070 SUPER and GeForce RTX 2080 SUPER, allowing for next-generation games. What's more, this core RTX technology will be used in the eagerly awaited game, Cyberpunk 2077 (it won over 100 awards at E3 2019). * The company entered a strategic alliance with Volvo Group for the development of autonomous trucks. * NVDA announced a breakthrough in AI language understanding, which should make it easier for businesses to engage with customer conversations. The company's AI platform can train one of the most sophisticated models, called BERT, in less than an hour -- making inferences in just over 2 milliseconds. Bottom Line on Nvidia StockThere's no doubt that NVDA has been prescient in leveraging its GPU expertise into markets beyond gaming, such as the data center and AI. The result is that the company has become a mega powerhouse in the chip industry.But the problem is that the competition is starting to take a toll. For example, companies like Qualcomm (NASDAQ:QCOM), Intel (NASDAQ:INTC), Alphabet (NASDAQ:GOOGL, NASDAQ:GOOG) and Amazon.com (NASDAQ:AMZN) are creating their own AI chips. There are also a myriad of startups, like Graphcore, that are gunning for the opportunity.In the meantime, the situation with US-China relations appears to be far from resolved. This is particularly troublesome for NVDA because it has about 23% exposure to China.So in light of all this, it's probably best to hold off on the stock ahead of this week's earnings report.Tom Taulli is the author of the book, Artificial Intelligence Basics: A Non-Technical Introduction. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 15 Growth Stocks to Buy for the Long Haul * 5 More Cloud Stocks With Plenty of Potential * 5 Clean Energy ETFs to Buy for 2019 The post It Looks Like a Tough Quarter for Nvidia Stock Ahead of Earnings appeared first on InvestorPlace.
NetApp Inc. this year paid its median employee just shy of $200,000 — a level that puts it on par with some of Silicon Valley's biggest companies and represents a 26 percent jump, year-over-year.
Forty-six large companies account for 22% of the office space in Austin. This means that Austin’s fate is more vulnerable to the national economy than ever before, and to the whims of tech behemoths such as Google, Apple, Dell Technologies and IBM.
In my 10X Innovation Summit, I address most of the practicalities of buying stocks with 10X profit potential. The topic I would like to explore now is what happens AFTER you buy. In other words: when to sell a stock, if you want the maximum profit from your investing ideas.Let me show you how by example.Since 10X gains are usually derived from huge, world-changing megatrends, we'll look back at one of the biggest in recent memory: the rise of the internet.InvestorPlace - Stock Market News, Stock Advice & Trading TipsImagine it's the early 1990s, when the internet was first being introduced. The more you learn about it, the more possibilities you discover.You start to see how one day we'll be doing just about EVERYTHING online -- work, shopping, socializing, education…you name it. And you become eager to invest in this phenomenon. * 8 of the Most Shorted Stocks in the Markets Right Now As one of the few to understand the Internet Revolution in its very early days, you would know the select few stocks to buy.You'd buy some Cisco Systems (NASDAQ:CSCO), which supplied the actual gear these networks run on -- basically, the "plumbing" of the internet.You'd buy some Microsoft (NASDAQ:MSFT) stock, too. After all, in the 1990s, no one gets on the World Wide Web without their personal computers (PCs). Maybe you'd also pick up shares of another PC manufacturer: Dell Computer (NYSE:DELL).Within a few years, you'd have joined the ranks of the "dot-com millionaires."$1,000 in CSCO stock would be worth $1,264,000 after less than 10 years! With MSFT stock and DELL stock in the mix, too, you'd end up with several million dollars.But there's just one catch: None of these stocks went straight up. In fact, no stock does -- especially in its early stages.Here's how CSCO stock would have looked a year into your investment:Not many people would have stuck around after that sheer drop in March 1991 -- when several months of gains were erased in days.But then, not many people would have enjoyed the meteoric rise CSCO then saw over the next four years:As you see, that initial drop ended up just being a blip. (It wasn't even the sharpest correction CSCO stock ended up making, on its way to glory.) But no one knew that at the time!No one but you. Because you knew exactly WHY you were investing in CSCO. Namely, to cash in on the Internet Revolution. And that was just getting started. Therefore, you knew CSCO stock was just getting started, too, as a money-making investment.So, if you'd cashed in after one year, you'd have made a modest profit on CSCO stock.But if you'd cashed in a few years later - once the internet was becoming more fully adopted in businesses and households - that's how you'd have turned $1,000 into $1,264,000.The biggest winners tend to work just like that. Another example I give in the 10X Innovation Summit of when to sell a stock (and when NOT to) was Amazon (NASDAQ:AMZN).Believe it or not, AMZN is sitting on a 2,700% gain! (I bet you can believe it, since Amazon has just about taken over the whole world, at this point.) But like CSCO, no one just woke up one morning to 2,700% profits on AMZN. It took 10 years.Sure, AMZN stock had plenty of good years, on the way to that 2,700% gain -- but it had bad years along the way, too.Here's me during my 10X Innovation Summit presentation, showing the last 10 years of AMZN's returns. As you see above, if you invested in AMZN, you had to take the good with the bad. And you had to have faith that, in the end, you'd come out 10X ahead. (In this case, you'd have made much more than that!)But letting your investment ride can be one of the hardest things to do.Just ask Peter Lynch, a legend on Wall Street who once managed Fidelity's mammoth mutual fund Magellan.One of Lynch's most famous quotes had to do with what he regretted most in his career: "I always sold stocks way too early."I'm sure you can relate. I certainly can.I felt the same way about my investment in Intuitive Surgical (NASDAQ:ISRG) stock. When to Sell a Stock: My "Peter Lynch Moment"Intuitive Surgical was one of the first stocks I bought for clients, back in 2004. It wasn't widely known, but the company was a pioneer in the brand-new field of surgical robotics. So, it fit a major theme for me: next-generation healthcare. We bought around $15 per share - and within a few weeks, it was at $20!I went ahead and sold ISRG, and we took that profit to the bank. And you know what? My clients were happy with that. It was a 30%+ return in a short time. But guess what? ISRG stock is up to $525 today. (And that's even after a 3-for-1 stock split.)I wished I'd been less focused on possibly losing the gains we had…and more focused on why ISRG was a good investment, long-term. If I had - if we'd held on through the financial crisis, the Obamacare controversy, and everything else - we'd now have a 10,400% profit!But I know better now. And I make sure my readers know better, too.If you'd bought AMZN on my recommendation -- and held on -- you'd have made 1,498% in the end!You'd have made 1,024% on Ross Stores (NASDAQ:ROST) the same way, plus 1,407% on Boston Beer Company (NYSE:SAM), 1,495% on Advanced Micro Devices (NASDAQ:AMD) and 2,040% on Ulta Beauty (NASDAQ:ULTA)!I say this not to brag, although I definitely am proud of these results. But I just want to show you that 10X gains really are possible.Here's how: A smart investor does not worry about "picking stocks." They worry about picking trends! And once you get to know that trend inside and out -- the major players, and the smaller imitators who are just hanging on for the ride -- the right stocks reveal themselves. Then you know when to sell a stock…only once your idea has fully played out.Go ahead and check out the replay of my 10X Innovation Summit for an actionable look at the hottest trends now. I even give away my most recent stock pick for FREE.Matthew McCall is the founder and president of Penn Financial Group, an investment advisory firm, as well as the editor of Investment Opportunities and Early Stage Investor. He has dedicated his career to getting investors into the world's biggest, most revolutionary trends BEFORE anyone else. The power of being "first" gave Matt's readers the chance to bank +2,438% in Stamps.com (STMP), +1,523% in Ulta Beauty (ULTA), +1,044% in Tesla (TSLA), +611% in Liquefied Natural Gas Limited (LNGLY), +324% in Bitcoin Services (BTSC), just to name a few. If you're interested in making triple-digit gains from the world's biggest investment trends BEFORE anyone else, click here to learn more about Matt McCall and his investments strategy today. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 of the Most Shorted Stocks in the Markets Right Now * 7 Charts That Should Concern Marijuana Stock Investors * 8 Monthly Dividend Stocks to Buy for Consistent Income The post Cisco Systems (CSCO), Amazon (AMZN), and When to Sell a Stock appeared first on InvestorPlace.
(Bloomberg) -- Google’s cloud-computing unit unveiled an expanded partnership with software maker VMware Inc., as the Alphabet Inc. division seeks to catch up to rivals that have similar deals.The pact will help VMware, which makes virtualization and networking tools, satisfy customers who want to move VMware-based workloads from their corporate servers to Google’s public cloud, the companies said Monday in interviews with executives. VMware and Google are expected to formally announce the tie-up on Tuesday.Google’s annualized sales for its cloud-computing business will be $8 billion this year, the company said last week during its earnings call. That figure includes internet-based computing and storage, as well as Google’s suite of productivity apps for word processing, spreadsheets and other office needs. Cloud revenue generated by market leaders Amazon.com Inc. and Microsoft Corp. dwarf Google’s expected performance this year, boosting the need for partnerships with common corporate vendors like VMware, which has tens of millions of enterprise workloads running on its software.This “means customers can bring all their existing VMware tools, policies, practices from a private cloud on premise to Google Cloud,” Thomas Kurian, the unit’s chief executive officer, said in an interview. “Customers were asking us to make it easy to protect their investments in VMware.”Kurian said customers also can access Google’s artificial intelligence, machine learning and analytics tools, as well as deploy their apps to all the regions where Google has data centers, beginning in the U.S. The Information reported earlier Monday that Google and VMware were discussing a cloud partnership.Most companies have used virtualization software to combine different workloads on servers, which help save money and run corporate networks more efficiently. As many of those companies move tasks from their data centers to the public cloud, VMware, which is more than 80% owned by Dell Technologies Inc., has sought to keep its software relevant and customers have looked for ways to ease the transition.“We don’t go into a customer and tell them what public cloud they should use,” Sanjay Poonen, the chief operating officer of VMware, said in an interview. “Customers have picked GCP for reasons particular to the strength of their platform, like AI. Since Thomas has taken over we have seen more interest in Google Cloud Platform.”Google and Palo Alto, California-based VMware have been discussing the partnership for months, and sought to make their integration available as soon as possible. The software was engineered by CloudSimple rather than VMware, which put together its tie-up for Amazon Web Services.“We wanted to get the fastest route to the market,” Kurian said.VMware will also not directly sell the software integration with Google, unlike the dynamic in its partnership with Amazon, which VMware has described as its key cloud ally since its 2016 deal. Starting later this year, customers will be able to buy the product in Google’s cloud marketplace, and Google and CloudSimple will field any customer service inquiries should something go awry. VMware’s tie-in with Microsoft Azure, announced in April, is structured in a similar way.Besides virtualization software, VMware customers will also be able to run networking tools through Google’s cloud. Previously, the companies’ software collaborated on a few less comprehensive tasks.Kurian described the VMware partnership as his company’s third step into hybrid-cloud functionality, which lets organizations run and store data in their own servers as well as facilities run by large cloud providers. He ruled out the possibility that Google could follow AWS and Microsoft by offering hardware for customers to put in their data centers, describing it as “the surest way to create friction.”(Updates with additional details on partnership in 11th paragraph. VMware corrected an earlier version of the story to say CloudSimple is the only third party involved in engineering the Google-VMware integration.)\--With assistance from Gerrit De Vynck.To contact the reporters on this story: Nico Grant in San Francisco at email@example.com;Dina Bass in Seattle at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Dell Technologies Inc (NYSE: DELL ) shares have been under pressure in the past three months, but one Wall Street analyst said Monday near-term headwinds will ultimately subside, clearing the way for long-term ...