Storage vendor NetApp (NTAP) tanked Tuesday following the announcement it will pay $870 million in cash to acquire SolidFire. SolidFire provides businesses with storage systems that are based on flash-memory chips rather than spinning disk drives. Flash is seen as the future of storage, with that transition well underway. EMC (EMC), Hewlett-Packard Enterprise (HPE), Cisco Systems (CSCO) and other industry giants have been investing heavily in
Microsoft (MSFT) continued its reign as the king of cash among companies in the S&P 500, holding the largest amount of cash and short-term marketable securities at the end of the third quarter at $99.3 billion. Microsoft also held that spot in Q2. Following Microsoft in Q3 is General Electric (GE), close behind at $99.1 billion, followed by Alphabet (GOOGL) at $72.7 billion, then Cisco Systems (CSCO), according to Factset Research. Alphabet is the
F5 Networks (FFIV) stock rose a day after its chief executive resigned and its former longtime CEO John McAdam returned to run the company on an interim basis. Manny Rivelo, a former Cisco Systems (CSCO) executive, stepped down as CEO due to personal conduct matters unrelated to the operations or financial of the company, F5 Networks said late Monday. One analyst speculated that the management shuffle could open the door for F5 to “seek a