Intel had snatched away
VMware CEO Pat Gelsinger to replace Bob Swan and fix the troubled chip giant is weighing heavily on shares of both VMware and
Dell Technologies, which has an 80.6% stake in the company.
Last year, Dell (ticker: DELL) confirmed press reports that it was considering spinning off its VMware stake to current Dell holders. In such a transaction, VMware (VMW) would likely pay a large cash dividend back to Dell that the PC maker would then use to reduce its substantial debt load.
Now, with VMware losing its iconic leader, there are concerns on Wall Street about VMware’s valuation. Keep in mind that the value of Dell’s stake in VMware is almost equal to Dell’s entire market capitalization.
https://www.wsj.com/articles/barbara-novick-blackrocks-most-powerful-woman-is-finally-retiring-11610546400 WSJ News Exclusive Barbara Novick, BlackRockâs Most Powerful Woman, Is Finally Retiring Co-founder who led money managerâs lobbying efforts plans to transition from vice chairman to senior adviser role on Feb. 1 Vice Chairman Barbara Novick played a key role in getting BlackRock heard by regulators last year. By Jan. 13, 2021 9:00 am ET
One of BlackRock Inc.âs most well-known co-founders, Barbara Novick, is taking a stab at retirement for the second time.
Ms. Novick led the firmâs public-policy efforts, building a lobbying machine that allowed BlackRock to avoid the same regulations as banks and fueling its rise into the worldâs largest money manager with $7.8 trillion under management. She tried to leave last year but stayed on as the coronavirus pandemic unnerved markets. She says this time it
The independent broker-dealer is counting on two relatively new affiliation channels to appeal to wirehouse advisors who either want help running their businesses or don’t want to run a business at all.
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People walking outside a Walmart a store in Washington, D.C. Nicholas Kamm/AFP via Getty Images
Walmart stock is rising following the news that the retail giant is pushing into fintech with its latest partnership, the latest in a string of moves diversifying away from its core business.
Walmart (ticker: WMT) announced on Monday that it would create a fintech start-up with Ribbit Capital, a backer of Robinhood and Credit Karma. The new company, which will be majority owned by Walmart, aims to “deliver tech-driven financial experiences tailored to Walmart s customers and associates.”
Walmart was up 1.5%, to $149.44, in trading Tuesday.
Nopparat Khokthong/Dreamstime.com
IAC/InterActiveCorp shares were trading higher Tuesday after the internet holding company announced a strong financial update, and Wall Street responded with positive commentary on the stock.
IAC (ticker: IAC) has been issuing monthly financial updates on all of its business lines, and the December update included positive signs from several of its businesses.
Most important, the company said that revenue at Vimeo, a provider of cloud-based video editing tools, rose 57%, accelerating from 54% growth in November and 49% in October. Subscribers were up 24% for the second straight month, increasing from 22% in October, 21% in September and 19% in August.