New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 22, 2014
11:26 EDTN, CALD, ORCL, CRMSalesforce.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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
February 26, 2015
09:35 EDTCRMActive equity options trading on open
Subscribe for More Information
09:25 EDTCRMOn The Fly: Pre-market Movers
Subscribe for More Information
07:55 EDTCRMSalesforce.com price target raised to $80 from $75 at Credit Suisse
Subscribe for More Information
07:43 EDTCRMSalesforce.com price target raised to $80 from $70 at Canaccord
Canaccord raised its price target on Salesforce.com to $80 from $70 following its Q4 report, citing increased guidance, margin expansion, and an increase in large deal transactions. Canaccord reiterated its Buy rating on Salesforce.com shares.
07:42 EDTCRMSalesforce.com price target raised to $79 from $70 at Stifel
Stifel increased its price target on Salesforce.com after the company reported in-line results but higher than expected billings. The firm thinks the company's margins are continuing to expand and it keeps a Buy rating on the stock.
07:06 EDTCRMSalesforce.com guidance conservative, says Pacific Crest
Subscribe for More Information
07:05 EDTCRMSalesforce.com price target raised to $80 from $70 at Deutsche Bank
Deutsche Bank raised its price target for Salesforce.com shares to $80 after the company posted 37% constant currency billings growth in Q4. It reiterates a Buy rating on the stock.
06:38 EDTCRMSalesforce.com price target raised to $78 from $71 at Citigroup
Subscribe for More Information
February 25, 2015
18:24 EDTCRMOn The Fly: After Hours Movers
Subscribe for More Information
16:09 EDTCRMSalesforce.com FY16 EPS 67c-69c, consensus 69c
Subscribe for More Information
16:07 EDTCRMSalesforce.com sees Q1 EPS 13c-14c, consensus 15c
Subscribe for More Information
16:06 EDTCRMSalesforce.com reports Q4 EPS 14c, consensus 14c
Subscribe for More Information
15:12 EDTCRMSalesforce.com technical notes ahead of results
Shares have been trading in a range largely bound between $55 at the low and $65 at the high for the last several months. There is a bullish bias within the range. The two extremes of the range may be helpful for understanding where price could go post-earnings. A move up to and above the high at $65 would mean a potential breakout to the 52-week high and life high at $67. That high was set nearly a year ago to date. A breakout above $67 would set up a run to $70. The $70 area would be the top of the long-term price channel, projected forward in time. If the news is not as bullish as traders appear to expect, a move down to the $55 area would be possible. Support prior to that range low is at $58.92, the 50-day moving average, which could be a downside objective on a less severe disappointment. A breakdown below $55 would see next support at $52.74.
15:05 EDTCRMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include salesforce.com (CRM), consensus 14c... Avago Technologies (AVGO), consensus $1.94... L Brands (LB), consensus $1.80... Workday (WDAY), consensus (6c)... BioMarin (BMRN), consensus (59c)... Concho Resources (CXO), consensus 84c... Antero Resources (AR), consensus 28c... Medivation (MDVN), consensus $1.34... Transocean (RIG), consensus 77c... Sprouts Farmers Market (SFM), consensus 9c... SINA Corporation (SINA), consensus 18c.
14:52 EDTCRMSalesforce.com February weekly 62 straddle priced for 7.2% movement into Q4
07:12 EDTCRMSalesforce.com February weekly volatility elevated into Q4 and outlook
Subscribe for More Information
February 23, 2015
06:20 EDTCRMSalesforce.com February weekly volatility elevated into Q4 and outlook
Salesforce.com February weekly call option implied volatility is at 76, March is at 35, April is at 33, May is at 30; compared to its 26-week average of 33 according to Track Data, suggesting larger near term price movement into the expected release of Q4 results after the market close on February 25.
February 20, 2015
12:49 EDTCALDCallidus Software management to meet with Craig-Hallum
Subscribe for More Information
February 19, 2015
17:42 EDTCRMSalesforce.com CEO sold 125K shares for $7.39M, Barron's says
Subscribe for More Information
11:04 EDTORCLOracle unveils new big data solutions
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use