NetApp (NTAP) reports results on Tuesday May 21, as shares hover near a 52-week high. The company is working with Goldman Sachs to increase shareholder value. Options include returning cash, proposing a new director, and cutting jobs in the units that are underperforming.
NetApp rose 7% last week after a nearly 5% position was taken by Elliott Associates. The position suggests that a push will be made to change the board. Elliott Associates was responsible for pushing for the privatization of BMC Software. BMC was sold to Bain Capital and Golden Gate Capitall for $46.25 per share.
Written by Chris Lau