NEW YORK (TheStreet) -- Shares of EMC (EMC) are dropping 1.46% to $27 as the world's biggest provider of products and services for mass storage and analysis is often a target for cyberspies, Bloomberg reports.
The company holds the secrets of banks, technology companies, casinos, power plants, militaries, and governments, which is what attracts potential intruders to the company.
Devices protecting EMC's 60,000 computers register 1.2 billion "events," or hacker activity, every day. Out of those events, 60 to 80 are considered "serious enough," Bloomberg added.
In an era where hacking happens frequently, companies like EMC are looking for ways to heighten security and monitor hacker activity.
Separately, TheStreet Ratings team rates EMC CORP/MA as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate EMC CORP/MA (EMC) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. 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 and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and relatively poor performance when compared with the S&P 500 during the past year."
Highlights from the analysis by TheStreet Ratings Team goes as follows: