Wednesday, August 15, 2007

VMware rockets as market tumbles - The Boston Globe

Weird that more of the value hasn't been reflected in EMC's stock.  At market close yesterday, EMC (which retained 90% of VMWare's stock) mkt cap = $38.5B, while VMWare mkt cap = ~$16.8B.

Shares in software company VMware Inc. shot up 75.8 percent in their first day of trading yesterday, defying the overall market slide and notching the biggest opening-day gain of any stock in 2007.

The surge, coming on a day when the Dow Jones Industrial Average fell 1.57 percent, gave a lift to the technology sector and to VMware's majority owner, EMC Corp. of Hopkinton, which spun off 10 percent of the company in a stock offering that raised about $1 billion.

It was the largest initial public offering in technology since Internet search provider Google Inc. went public three years ago.

VMware rockets as market tumbles - The Boston Globe

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