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ECT News Community   »   E-Commerce Times Talkback   »   Re: VMware Takes a Beating on CEO Switch, Lower Revenue Outlook



Re: VMware Takes a Beating on CEO Switch, Lower Revenue Outlook
Posted by: Anonymous 2008-07-08 11:02:22
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Shares of VMware plunged 25 percent Tuesday after the software maker replaced cofounder and CEO Diane Greene and warned that revenue would fall short of prior estimates. VMware, which is controlled by data-management provider EMC, has fallen mightily since a blockbuster partial spinoff last year. After its initial public offering in August, VMware stock tripled from its $29 opening price in the first month -- the biggest technology IPO since Google went public in 2004. But since hitting a 52-week high of $125.25 in October, the shares have lost nearly 70 percent of their value.


Something was smelling fishy earlier today ...
Posted by: robinwauters 2008-07-08 11:04:21 In reply to: Anonymous
There was something in the air before the US woke up:

http://virtualization.com/news/2008/07/08/emc-vmware-spinout/

Our take on Diane Greene’s departure:

http://virtualization.com/news/2008/07/08/diane-greene-vmware-paul-maritz/
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