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Stock Market & Financial Investment News

News Breaks
August 22, 2014
11:26 EDTORCL, CRM, N, CALDSalesforce.com rallies following beat and raise quarter
Shares of cloud computing solutions provider Salesforce.com (CRM) are advancing after the company posted better than expected second quarter results, and raised its fiscal 2015 outlook. WHAT'S NEW: Last night, Salesforce.com reported Q2 adjusted EPS of 13c and revenue of $1.32B, topping analysts’ consensus estimates of 12c and $1.29B, respectively. Q2 operating cash flow came in at $246M, up 34% year-over-year. WHAT’S NOTABLE: For FY15, Salesforce.com raised its EPS view to 50c-52c from 49c-51c, compared to consensus of 51c. It also boosted its FY15 revenue outlook to $5.34B-$5.37B from $5.3B- $5.34B, versus consensus of $5.34B. CEO Marc Benioff said, "Salesforce.com continues to be the fastest growing top 10 software company with 38% year-over-year growth in revenue, and more than 30% year-over-year growth in deferred revenue and operating cash flow in the second quarter." On the company’s Q2 earnings conference call, Benioff noted that Europe was performing "beyond expectations," and that the company was just now beginning to realize the enormous potential of international opportunities. The company plans to introduce a "major new product" at the upcoming Dreamforce event. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Deutsche Bank raised its price target for Salesforce.com shares to $70 from $65, saying the company's set-up for the second half looks better following its Q2 results. The firm reiterated its Buy rating on the stock. Another firm, UBS, also raised its price target on the shares to $76 from $73. The firm sees stronger tailwinds in the second half including its large enterprise deal pipeline, upcoming event catalysts, and deals in SMB. UBS has a Buy rating on the stock. Oppenheimer thinks the company's guidance for the remainder of the year can still rise further. The firm believes that the company's success in marketing and platform products could enable its revenue to beat expectations going forward. It kept a $71 price target and Outperform rating on the shares. PRICE ACTION: In late morning trading, Salesforce.com rose $4.60, or about 8.25%, to $60.31 on over three times its average daily trading volume. Including today’s advance, the stock has gained approximately 37% over the past twelve months. OTHERS TO WATCH: Other companies in the cloud-based solutions space include Callidus Software (CALD), NetSuite (N), and Oracle (ORCL).
News For CRM;CALD;N;ORCL From The Last 14 Days
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August 20, 2015
19:02 EDTCRMOn The Fly: After Hours Movers
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18:44 EDTCRMSalesforce CEO says will be fourth largest software company by next year
Says continues to sign record number of large deals with key customers. Says has clear trajectory to $10B in revenue and expects to go through that as well. Marc Benioff is speaking on CNBC.
18:00 EDTCRMSalesforce says Q2 'best quarter ever' for company
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16:43 EDTCRMSalesforce reports Q2 subscription and support revenues $1.52B
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16:42 EDTCRMSalesforce reports deferred revenue on balance sheet of $3.03B as of July 31
Deferred revenue on the balance sheet as of July 31 was $3.03B, an increase of 29% year-over-year, and 33% in constant currency. Unbilled deferred revenue, representing business that is contracted but unbilled and off balance sheet, ended the quarter at approximately $6.2B, up 24% year-over-year.
16:26 EDTCRMSalesforce up 3.5% to $70.20 after raising FY16 outlook
16:10 EDTCRMSalesforce CEO says on pace to reach $7B run rate later this year
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16:09 EDTCRMSalesforce sees FY16 operating cash flow growth approximately 24%-25% YoY
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16:07 EDTCRMSalesforce raises FY16 adjusted EPS view to 70c-72c from 69c-71c
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16:06 EDTCRMSalesforce sees Q3 adjusted EPS 18c-19c, consensus 18c
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16:05 EDTCRMSalesforce reports Q2 adjusted EPS 19c, consensus 18c
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15:41 EDTCRMSalesforce August 69 straddle priced for 8.1% movement into Q2
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14:42 EDTCRMNotable companies reporting after market close
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14:17 EDTCRMSalesforce technical comments ahead of earnings
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12:32 EDTCRMEarnings Watch: Salesforce shares up fractionally since last earnings report
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11:49 EDTORCLOptions with increasing implied volatility
Options with increasing implied volatility: SRPT ACHN VIAV ZG RAD DIS ORCL SPY XLF OEX
10:00 EDTNOn The Fly: Analyst Initiation Summary
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09:25 EDTCRMSalesforce August volatility increases into Q2 and outlook
Salesforce August call option implied volatility is at 116, September is at 45; compared to its 52-week range of 25 to 59, suggesting large price movement into the expected release of Q2 results today.
08:32 EDTORCLOracle agrees to acquire Maxymiser
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07:11 EDTNNetSuite initiated with a Neutral at Susquehanna
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