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VMware Gains on Faster Sales Growth Outlook: San Francisco Mover
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VMware Inc. rose the most in eight months after Chief Executive Officer Pat Gelsinger forecast accelerating revenue growth, easing investor concern that he’s not moving swiftly enough into new businesses.
VMware’s stock advanced 8.1 percent to $81.37 at the close in New York, the biggest gain since July 18. EMC Corp., VMware’s majority owner, also issued an outlook for annual sales growth of at least 8 percent, lifting its shares by 1.8 percent to $24.90.