shares

While Cisco is increasing its stake in VMware, Intel is reducing it. The company plans to sell the bulk of those shares on Tuesday, according to a regulatory filing.

Intel disclosed that it had recently sold 1 million shares in the virtualization software maker and plans to sell another 3.75 million VMware shares on the open market “approximately” on Tuesday.

The chipmaker originally paid $23 per share for the stock in a private placement. VMware shares hit a record high of $125.25 on October 31, 2007, after going public in August that year at $29 per share.

Shares of VMware, which is majority-owned by EMC, fell nearly 4 percent before recovering to trade up 0.53 percent at $31.98 in morning trade on the New York Stock Exchange.

More info in this Reuters article.

These are troubled times for application virtualization and streaming startup Endeavors Technologies, who recently released its Application Jukebox and split the offer into 3 separate editions. Apparently, the company has been unable to secure a large funding round after exploring a number of possible options, resulting in a suspension of ordinary shares which have stopped trading on the London Stock Exchange.

David Lee, Chairman of Endeavors commented:

“The continued decline in institutional confidence has undermined our best efforts to satisfactorily conclude the proposed re-construction of the company and our inability to attract the relevant level of investment appropriate to the company’s phase of development is deeply disappointing. We are exploring all available options”

A further announcement is expected to be made in due course.

[Source: Virtualization.info]

Intel Cuts VMware Stake In Half

Endeavors Unable To Secure Funding, Suspends Shares