VMWare Shares Rise and take EMC Corp. with them (VMW, EMC)

VMware, Inc. (NYSE:VMW) shares are up 13% today and EMC Corporation (NYSE:EMC) is chasing right after them with its stock up 5%.  VMware (VMW) just had an incredible quarter and the analysts are jumping for joy, tack on that EMC owns around 80% of VMware not to mention controlling almost all of the voting stock rights -- the two together are a double whammie.

VMware (VMW) just reported Q4 2009 results that impressed the Street and then some, total sales for the company came in at $608 million and operating margins of 25.9%. VMW also posted strong non-GAAP EPS of $0.31, above the estimate of $0.28 and consensus projection of $0.26. Total license sales rose by 27% sequentially, the analysts say.

Better yet, EMC Corp.'s (EMC) just reported Q4 2009 profit increased 58%, helped by growth in its technology services business after the recession and a restructuring charge led to weak results a year ago. EMC Corp. also forecast 2010 earnings of $1.12 a share on revenue of $16 billion, topping Wall Street estimates.

Then there's that wonderful cloud computing project the companies are working on, read more on that -- EMC sees IT spending recovery, plans further cloud storage push in 2010.

The upgrades for VMW and EMC are just starting to come in, here's the links to Google Finance for both stocks: