EMC Corporation (NYSE:EMC) down by 1.29%, Synovus Financial Corp (NYSE:SNV)

Posted by Lynn Eisler May 14, 2013 0 Comment 2224 views


EMC Corporation (NYSE:EMC): Monday’s trading session saw EMC Corporation (NYSE:EMC) shares headed 1.29% downward. The opening price of $23.26 touched an intraday high of $23.37 per share before setting down to $23.01. A total of around 16.87 million shares exchanged hands in the Monday trading session, which stood below the average volume of 23.01 million, measured over a period of 30 days.

EMC Corporation is focused on Hybrid Cloud-Computing and operates in two main categories: VMware Virtual Infrastructure and EMC Information Infrastructure. Almost 72% of its revenue in 2012 which amounted to $15.6 billion was derived from the Information Storage segment. On the other hand, VMware Virtual Infrastructure came up second with revenue of almost $4.6 billion. Very recently the company announced the latest upgrade across its portfolio called Documentum, to improve customers’ productivity and cloud-governance.

With innovations such as EMC and EMC Healthcare Integration portfolio,  Documentum Quality and Manufacturing, EMC Documentum Electronic Trial Master File, , EMC is reaching out to customers in the life sciences, energy as well as the healthcare industry.

Synovus Financial Corp (NYSE:SNV): Monday’s trading session saw Synovus Financial Corp (NYSE:SNV) shares headed 2.93% upward. The opening price of $2.72 touched an intraday high of $2.82 per share before setting down to $2.71. A total of around 10.66 million shares exchanged hands in the Monday trading session, which stood above the average volume of 9.88 million, measured over a period of 30 days.

On 5/10/13, Synovus Financial Corp (NYSE:SNV)’s 8.25% tMEDS traded ex-dividend, for its $0.5156 quarterly dividend. This will be payable on 5/15/13. As a percentage of the company’s recent $25.60 share price, this dividend works out to around 2.01%, so there is a possibility that all else being equal, Synovus shares will trade 2.01% lower. The current yield is around 8.05%, on an annualized basis, which compares to the 5.07% average yield in the “Financial” preferred-stock category.

As of last close, Synovus Financial Corp (NYSE:SNV) was trading at a premium of 2.44%, to its liquidation-preference amount, opposed to the 5.17% average premium of in the “Financial” category.

 


About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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