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Stock Market & Financial Investment News

News Breaks
August 22, 2014
11:26 EDTCRM, CALD, N, ORCLSalesforce.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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September 19, 2014
10:48 EDTORCL, CRMOracle tumbles after Q1 earnings miss estimates, Ellison steps aside as CEO
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10:06 EDTORCLOn The Fly: Analyst Downgrade Summary
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09:19 EDTORCLOn The Fly: Pre-market Movers
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07:57 EDTORCLOracle shares still attractive, says Stifel
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07:39 EDTORCLOracle downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded Oracle to Hold following the company's Q1 results citing the deceleration of its core database business. The firm points out database license sales were again negative in the quarter. Deutsche lowered its price target for shares to $42 from $48. The stock is trading down 3% to $40.30 in pre-open trading.
06:16 EDTORCLOracle downgraded to Hold from Buy at Deutsche Bank
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September 18, 2014
18:25 EDTORCLOn The Fly: After Hours Movers
HIGHER: Concur (CNQR), up 19.5% after SAP (SAP) announced that it will acquire the company for $129 per share... Navidea Biopharmaceuticals (NAVB), up 9.8% after confirming FDA orphan designation for Lymphoseek... Molycorp (MCP), up 6.1% after Oaktree Capital reported a 9.1% passive stake in the company... JetBlue (JBLU), up 4.6% following CEO transition announcement... Wendy's (WEN), up 2.15% after Trian reported a 24.39% stake in the company... Sears Holdings (SHLD), up 2.6% after Fairholme Capital reported a 24% stake in the company... AMD (AMD), up 1% after announcing that it expanded an IP partnership with Synopsys (SNPS). DOWN AFTER EARNINGS: Red Hat (RHT), down 3%... Oracle (ORCL), down 2.4% following first quarter earnings miss and CEO transition... Tibco Software (TIBX), down 5.5%. ALSO LOWER: Quest Resource (QRHC), down 13.4% after filing an automatic common stock and warrant shelf... Eagle Rock (EROC), down 4.5% after filing to sell 53.34M common units for limited partners... Chatham Lodging (CLDT), down 3.3% after filing to sell 5M shares of common stock... Glu Mobile (GLUU), down 2.3% after filing to sell 9.98M shares of common stock for holders... Blackstone Mortgage (BXMT), down 1.6% after filing to sell 8M shares of common stock.
17:23 EDTORCLOracle sees Q2 adjusted EPS 66c-70c, consensus 74c
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16:07 EDTORCLOracle says rolling out database cloud service next week
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16:06 EDTORCLOracle reports Q1 Software plus Cloud revenue up 6% to $6.6B
Oracle reports Q1 total Software plus Cloud revenue was up 6% to $6.6B. Software-as-a-service and Platform-as-a-service cloud revenue was up 32% to $337M. Infrastructure-as-a-service cloud revenue was up 26% to $138M. Hardware systems revenue was down 8% to $1.2B. Reports Q1 non-GAAP operating margin was 44%.
16:04 EDTORCLOracle adds $13B to buyback authorization
Oracle announced that its Board of Directors authorized the repurchase of up to an additional $13.0B of common stock under its existing share repurchase program in future quarters. Oracle's Board also declared a quarterly cash dividend of 12c per share of outstanding common stock. This dividend will be paid to stockholders of record as of the close of business on October 8, with a payment date of October 29.
16:03 EDTORCLOracle adds $13B to buyback authorization
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16:02 EDTORCLOracle drops 3.7% after earnings miss, Ellison steps down as CEO
16:02 EDTORCLOracle reports Q1 adjusted EPS 62c, consensus 64c
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16:01 EDTORCLOracle CEO Larry Ellison steps down from post, named executive chair, CTO
Oracle's Board of Directors announced that it has elected Larry Ellison to the position of Executive Chairman of Oracle's Board and appointed him the company's Chief Technology Officer. Jeff Henley, who has served as Oracle's Chairman for the last 10 years, was appointed Oracle's Vice Chairman of the Board. The Oracle Board also promoted both Safra Catz and Mark Hurd to the position of CEO, Oracle Corporation. All manufacturing, finance, and legal functions will continue to report to Oracle CEO, Safra Catz. All sales, service and vertical industry global business units will continue to report to Oracle CEO, Mark Hurd. All software and hardware engineering functions will continue to report to Oracle Chairman and CTO, Larry Ellison.
16:00 EDTORCLOracle CEO Larry Ellison steps down from post, named executive chair, CTO
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15:15 EDTORCLNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Oracle (ORCL), consensus 64c; Red Hat (RHT), consensus 38c; TIBCO Software (TIBX), consensus 18c.
14:58 EDTORCLOracle September 41.5 straddle priced for 3.4% move into Q1
14:54 EDTORCLOracle technical comments ahead of results
In the past three months the stock has underperformed, falling by over 3%. The trading in shares has been relatively volatile, but within a narrow range largely contained by $40 at the low and $42 at the high. If the news is stronger than expected, particularly where outlook is concerned, there could be a run to the 52-week high at $43.19. That high is very close to the life highs for the shares at $46.18. We could see a range open up between the 52-week high and the life high if news exceeds expectations. If the news fails to meet investor expectations, a test down to the $40 area would appear very likely. A break below $40 would see next support at $38.34 and then at $37.08. The stock can be volatile around earnings, but gaps tend to be relatively small unless estimates are broken in extreme fashion, in either direction.
12:58 EDTORCLEarnings Preview: Morgan Stanley views Oracle's Q1, Q2 estimates as 'achievable'
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