Tech Five: EMC shares surge off Dell deal
(Corrections and clarifications: This story was updated to the correct day Netflix reports quarterly earnings. It is on Wednesday).
It's a busy Monday, with the largest technology deal ever officially confirmed. The week doesn't slow down as several big tech names report earnings, while another might reveal layoffs.
Let's look at tech stocks to watch Monday:
EMC. Shares are up more than 4% in pre-market trading after personal computer company Dell and private equity firm Silver Lake confirmed it will acquire the data storage company for $67 billion, the biggest tech deal ever. The move would make the Dell the third-biggest enterprise tech company by revenue, behind Hewlett-Packard and IBM.
Twitter. The social network is expected to report a huge round of layoffs this week. The company had 4,200 employees as of June. Last week, Twitter confirmed co-founder and interim CEO Jack Dorsey would assume the top role permanently.
Netflix. The streaming giant reports third quarter earnings after the markets close Wednesday. Analysts project Netflix will report revenue of $1.75 billion with earnings of 8 cents a share.
Intel. The chip maker reports quarterly earnings after the markets close on Tuesday. Intel is expected to report earnings of 59 cents a share off revenue of $14.23 billion.
Hewlett-Packard. The PC maker and SanDisk on new memory chips they predict will be 1,000 times faster than flash memory.
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