By Allison Prang

Shares of Dell Technologies Inc. and VMware Inc. rose in Wednesday morning trading after The Wall Street Journal reported on Tuesday that Dell could spin off its stake in VMware.

The Journal reported Dell was looking at its options and could sell its about $50 billion VMware stake or potentially buy the rest of the company. Dell could also not do anything, the Journal said.

Class C shares of Dell Wednesday rose 8% and VMware's Class A shares rose 5.7%.

Write to Allison Prang at allison.prang@wsj.com