NEW YORK (TheStreet) -- Shares of EMC (EMC) continue to fall 3.05% to $28.81 in afternoon trading Thursday after Cisco (CSCO) CEO John Chambers said his company is not interested in acquiring the data storage company.
Chambers said any deal for EMC would have happened "a year or two ago" but is not at play right now. The CEO made the remarks at a "Viewpoints" breakfast hosted by the Wall Street Journal.
EMC has discussed a merger with Hewlett-Packard (HPQ) for nearly a year but those talks recently ended, according to the Wall Street Journal; however, a source told Barron's on Monday that a deal could still happen.
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, according to the Journal. Another possible merger partner is Oracle (ORCL) .
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."