Channel Beat: VMware Stocks Slide Amid Co ncerns Around Dell-EMC

LOGO1It’s been a rough week for VMware — shares have dropped more than 18 percent after the news that Dell plans to buy EMC.

EMC CEO Joseph Tucci told investors and partners VMware remains “vital” and said VMware cash will not be used toward financing the deal with Dell. Tucci also referenced what he called “conspiracy theories” around VMware. One VMware partner said his sales were down double digits last quarter.

HP is calling it quits on its public cloud business — the company will shut down HP Helion Public cloud in January 2016.

HP in a blog post this week said it will “sunset” its public cloud program. The move comes after months of relative silence from HP in an area where it was once bullish and aggressive. HP will continue its efforts in private and hybrid cloud offerings, while offering support for AWS and Office 365. 

IBM third-quarter earnings beat analysts’ expectations, but fell short of the company’s own target.

IBM cited the company’s transformation into the cloud era as a hurdle that IBM continues to overcome — cloud revenue grew by 65 percent through the first three quarters of the fiscal year. Overall revenue for the quarter was $19.3 billion.