Since 1988 it has more than doubled the S&P 500 with an average gain of +23.96% per year. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. and Morningstar, Inc.Ĭopyright 2023 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606Īt the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. Forbes Media, LLC Investor's Business Daily, Inc. Each of the company logos represented herein are trademarks of Microsoft Corporation Dow Jones & Company Nasdaq, Inc. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Want a peek at this exclusive information? Click here> Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. These moves have double and triple-digit profit potential. If you're looking for profitable long-term investments, you may be interested to see what Zacks Research is recommending to our private members. The stocks you see in today's headlines may not be in the news tomorrow or next week. HPE will gain not only gain the latest flash-storage technology, but also Nimble’s new product, Nimble Cloud Volumes, the enterprise-grade storage service, to compete in the cloud-services industry. Nimble will be able to grow their customer bases with HPE’s backing against their rival, Pure Storage ( PSTG Quick Quote PSTG - Free Report). This acquisition could give both companies the push they need. Due to competitors like ( AMZN Quick Quote AMZN - Free Report), the cloud-base storage service is beating out the demands for older storage services that HP still provides. This was the largest drop in quarterly revenue since the company split into two companies in 2015. The company posted a 10% drop in their first quarter earnings while storage sales fell 13%. While Nimble will benefit from Hewlett Packard’s large operation and presence in the technology world, Nimble also allows HPE to tap into new markets and strengthen competitiveness in their existing markets. The company posted a $36.4 million net loss, compared to a net loss of $32.4 million in the same period a year ago. The company reported a 30% increase in revenues to $117 million year-over-year however, Nimble struggled to make a profit. Nimble released their fourth quarter earnings in 2017 today along with the acquisition news. “As proud as we are of what we have accomplished, we face a challenge of scale and significant exposure as a standalone storage company,” said Vasudevan in a statement. Suresh Vasudevan, CEO of Nimble Storage, expressed excitement about the buyout, as they will gain exposure and larger clientele that the company needs. According to research firm International Data Corp., the flash storage industry is expected to rise to nearly $20 billion in 2020. The flash storage device technology tends to be more reliable and requires less energy to operate because there are no moving parts. The technology company makes flash-optimized storage devices and a combination of hard disk and flash drives. skyrocketed by 46% to $12.58 today after Hewlett Packard Enterprise ( HPE Quick Quote HPE - Free Report) announced their $1 billion acquisition of Nimble.įounded in 2007, Nimble is headquartered in San Jose, CA.
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