Looking forward to full-year 2014, EMC reiterated its revenue guidance of $24.575 billion, and raised its EPS guidance to $1.91 share from $1.90 a share. The guidance is in-line with the Capital IQ Consensus Estimate of revenue of $24.75 billion and earnings of $1.91 a share for the year.
The company said it plans to buy back $3 billion worth of shares in 2014, up from its previous plan of buying back $2 billion worth. EMC spent $600 million on buybacks in the second quarter, and $390 million in the first quarter.
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TheStreet Ratings team rates EMC CORP/MA as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate EMC CORP/MA (EMC) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."