Why EMC (EMC) Stock Hit a One-Year High Today

NEW YORK (TheStreet) -- Shares of EMC  (EMC)  hit a 52-week high of $30.16 in morning trading Monday after the Wall Street Journal reported the data-storage company was considering options that include a merger deal.

EMC has been under pressure from hedge fund Elliott Management, as the activist investor has tried to convince EMC to break up in order to boost its stock. EMC is also dealing with the expected retirement of its longtime CEO Joe Tucci, who has suggested he would step down by early 2015. No successor has been named.

EMC discussed a merger with Hewlett-Packard (HPQ) for nearly a year but those talks recently ended, according to the Journal. EMC has also spoken with Dell, which could purchase assets such as EMC's core storage business rather than attempt a complete takeover of the data storage company.

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Other possible merger partners include Cisco Systems  (CSCO) and Oracle  (ORCL) , the Journal reports.

The stock was up 1.12% to $29.86 at 11:05 a.m. 

Separately, TheStreet Ratings team rates EMC CORP/MA as a "buy" with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:

"We rate EMC CORP/MA (EMC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. 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, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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