Ups And Downs: The Best And Worst Tech Stocks In The First Half Of 2017
Submitted by Rick Whiting on
VMware
CEO: Pat Gelsinger
Dec. 30, 2016: $78.73
June 30, 2017: $87.43
Change: +11.05%
VMware's stock suffered a significant decline in 2015 when the Dell-EMC acquisition deal was announced (EMC owned a majority stake in VMware). But the stock bounced back last year and has continued to rise in 2017.
On March 30 VMware announced a deal with Dell Technologies under which VMware is repurchasing $300 million of VMware Class A common stock held by a Dell subsidiary. The plan is part of a previously announced $1.2 billion buyback authorization that extends through fiscal 2018. Dell will use the proceeds to repurchase Dell tracking stock for VMware – part of Dell's EMC acquisition agreement.
On April 4 VMware announced the sale of its vCloud Air hybrid cloud service to hyper-scale cloud provider OVH. The same month VMware struck a deal to buy Wavefront, a big data startup that markets a real-time analytics platform for monitoring and managing IT system performance,