Tech
VMware Beats the Street
Despite its strong guidance, VMware acknowledged that there are still clouds hanging over the tech sector.
"We still remain cautious about the speed and the pace of the economic recovery," said Peek, during a conference call after market close. "When you listen to the economic views of the largest companies in the industry there remains uncertainty." VMware, which competes with Microsoft(MSFT) and Oracle(ORCL), exited the third quarter with cash and equivalents of $2.2 billion. The company's cash haul, however, took a $356 million hit from its acquisition of SpringSource. The software maker's strong results should nonetheless spell good news for parent company EMC(EMC), which reports its own third-quarter results before the market opens Thursday. VMware shares rose 84 cents, or 1.89%, to $45.77 in extended trading. -- Reported by James Rogers in New YorkTheStreet Premium Services
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