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VMware Inc. (VMW) Rose Sharply On Revenue Forecast

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3/14/2013 7:31 AM ET

VMware Inc. (VMW) announced Wednesday that its annual revenue growth could be as high as 20 percent by 2016. The company also announced along with EMC Corp. (EMC: Quote) that they are planning to create a new company called Pivotal, which would be 69 percent owned by EMC and 31 percent owned by VMware.

VMware climbed for the majority of the morning Wednesday and ended the day with a gain of 6.08 at $81.37 on above average volume. The stock rose to a month and a half high.

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by RTT Staff Writer

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