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August 22, 2014
11:26 EDTN, CALD, ORCL, rallies following beat and raise quarter
Shares of cloud computing solutions provider (CRM) are advancing after the company posted better than expected second quarter results, and raised its fiscal 2015 outlook. WHAT'S NEW: Last night, 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, 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, " 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 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, 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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March 30, 2015
07:50 EDTORCLOracle upgraded to Outperform from Sector Perform at RBC Capital
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March 27, 2015
07:06 EDTORCLOracle has best chance of success in cloud, says Cantor
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March 26, 2015
14:41 volatility at low end of historic range April call option implied volatility is at 27, May is at 28, August is at 30; compared to its 26-week average of 33 according to Track Data, suggesting decreasing price movement.
March 25, 2015
14:25 EDTORCLOracle volatility at low end of history range as shares near 15-year high
Oracle April and May call option implied volatility is at 17, September is at 18; compared to its 26-week average of 22 according to Track Data suggesting decreasing price risk.
14:14 EDTORCLOracle EVP says Ellison has lost voice, Bloomberg reports
Bloomberg cites Oracle EVP Bob Weiler commenting on Chairman Larry Ellison. Bloomberg reported earlier that Ellison cancelled his planned presentation at the company's Industry Connect conference.
13:57 EDTORCLOracle Chairman Ellison cancels presentation, Bloomberg reports
Oracle Chairman Larry Ellison cancelled his planned presentation at the company's Industry Connect conference, Bloomberg reports.
March 23, 2015
11:22 EDTORCLOptions with decreasing implied volatility
Options with decreasing implied volatility: FOLD NKTR RUSL XONE GES CTRP WSM NLY ADBE ORCL
March 20, 2015
16:33 EDTORCLStocks end week higher after market reads Fed statement as dovish
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11:35 management to meet with Oppenheimer
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10:18 EDTORCLOptions with decreasing implied volatility
Options with decreasing implied volatility: NKTR FOLD RUSL RSX ORCL GES CTRP SLXP WSM SPXS
March 19, 2015
10:42 EDTORCLOptions with decreasing implied volatility
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07:17 EDTCALDStephens to hold a conference
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March 18, 2015
16:26 EDTORCLOn The Fly: Closing Wrap
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12:38 EDTORCLOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday ahead of the conclusion of the Federal Reserve's latest rate setting meeting and the central bank's accompanying announcements. The averages began the session in negative territory and have been range-bound throughout the morning. The Dow was down triple digits once again, making 8 consecutive days that the blue chip index has seen a triple digit move. ECONOMIC EVENTS: In the U.S., the DOE petroleum inventory reports showed a 9.6M barrel rise in crude stocks in the week of March 13, versus expectations for a 4.4M build. The day's big economic news is yet to come, with the Fed's FOMC meeting announcement due at 2:00 pm EDT and Fed Chair Yellen holding a press conference a half hour later. Elsewhere, Prime Minister Benjamin Netanyahu unexpectedly defeated his main challenger in Israel’s election and his Likud party appears set to capture more parliament seats. COMPANY NEWS: Shares of FedEx (FDX) slid 2.5% after the shipping giant reported earnings that beat estimates, but revenue that fell short of the consensus forecast, for its third fiscal quarter. FedEx noted that it expects to deliver "record" yearly earnings for the current fiscal year and next fiscal year as well... Oracle (ORCL) shares rose 2.5% after the company's third quarter profits matched expectations and it raised its quarterly dividend 25%. MAJOR MOVERS: Among the notable gainers was Vitesse Semiconductor (VTSS), which jumped 37% after the company agreed to be acquired for $5.28 per share in cash by Microsemi (MSCC). Also higher was Retrophin (RTRX), which rose 28% after the company said it will exercise its right to purchase from Asklepion Pharmaceuticals all worldwide rights, titles, and ownership of Cholbam after the FDA approved the drug for the treatment of pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects and for patients with peroxisomal disorders. Among the noteworthy losers was Willbros Group (WG), which dropped 55% and was downgraded to Underperform at DA Davidson after announcing its earnings report will be delayed and the company is in potential non-compliance with debt covenants. Also lower following their earnings reports were Nektar Therapeutics (NKTR), which fell 15% after the company's Phase III BEACON metastatic breast cancer study missed its primary endpoint. INDEXES: Near midday, the Dow was down 105.02, or 0.59%, to 17,744.06, the Nasdaq was down 12.45, or 0.25%, to 4,924.99, and the S&P 500 was down 7.69, or 0.37%, to 2,066.59.
10:02 EDTORCLOracle moves higher post-earnings, levels to watch
Shares are up 4.4% to $44.76 at time of writing, just off the high of the day at $44.94. At that price next resistance is at the 52-week high at $46.71. Support is at $44.30, the opening price of the day.
09:23 EDTORCLOn The Fly: Pre-market Movers
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07:42 EDTORCLOracle remains a favorite large-cap value stock, says Canaccord
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07:25 EDTORCLOracle sentiment should improve following Q3 results, says UBS
UBS noted Oracle reported solid Q3 results, including growth in cloud, infrastructure, and hardware. The results came despite foreign exchange headwinds and the firm now sees investor sentiment improving, resulting in a higher share price. UBS reiterated its Buy rating and raised its price target to $48 from $47 on Oracle shares.
07:01 EDTORCLOracle reported solid results, executing well, says Cantor
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06:04 EDTORCLOracle implied volatility of 30 at upper end of index
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