Shares in Dell Technologies (DELL) spiked 14% in pre-market trading on a report that the PC maker is mulling a spinoff of its roughly $50 billion stake in cloud computing software maker VMware Inc. (VMW)The stock surged to $55.90 in pre-market trading. Meanwhile, VMware shares rose 8.8% to $162.39.Dell is exploring the possibility of divesting the stake or taking other steps that could include buying the rest of the cloud-software giant, the Wall Street Journal reported. The companies are working with outside advisers on a number of scenarios.However, the report also stated that the evaluation deliberations are at an early stage and that no decision is imminent adding that any move is "unlikely" before 2021.Dell’s 81% stake in VMware has been valued at $50 billion, while the PC maker’s own market capitalization stood at $36 billion as of Tuesday.Commenting on the report, five-star analyst Daniel Ives at Wedbush, said that the...
The U.S. National Highway Traffic Safety Administration (NHTSA) said Tuesday it had opened an investigation into 63,000 Tesla Model S cars after reports of media control unit failures that led to loss of the use of a touchscreen. The complaints said the media control unit failures allegedly fails prematurely due to memory wear-out. NHTSA said Tesla used the same unit in 159,000 2012-2018 Model S and 2016-2018 Model X vehicles built by Tesla through early-2018....
