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Stock Market & Financial Investment News

News Breaks
August 30, 2013
10:15 EDTORCL, N, CRMSalesforce.com reaches new 52-week high after raising outlook
Shares of enterprise cloud computing provider Salesforce.com (CRM) hit a new 52-week high after the company beat second quarter estimates and raised its full year 2014 outlook. WHAT'S NEW: Last night, Salesforce.com reported second quarter adjusted earning per share of 9c and revenue of $957M. Those compare to consensus forecasts of 7c and $939.25M, respectively. The company also raised its 2014 guidance. FY14 adjusted EPS was raised to 32c-34c from 31c-33c, against analystsí consensus of 33c. FY14 revenue was raised to $4B-$4.025B from $3.96B-$4B, versus consensus of $3.99B. ANALYST REACTON: This morning, Salesforce.comís price target was raised at three separate firms, namely UBS, Credit Suisse, and RBC Capital. All cited the companyís better than expected Q2 results. PRICE ACTION: In early morning trading, Salesforce.com rose $5.63, or 13%, to $49.32 on very heavy volume. Earlier in the session, the stock made a new 52-week high of $49.58. OTHERS TO WATCH: NetSuite (N) and Oracle (ORCL) were both up about 1% following Salesforce's report.
News For CRM;N;ORCL From The Last 14 Days
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February 9, 2016
05:58 EDTCRMSalesforce upgraded to Hold from Underperform at Jefferies
Jefferies analyst John DiFucci upgraded Salesforce to Hold with the stock near around his unchanged price target of $30 following the 30% year-to-date selloff. Salesforce is seeing improved traction in the enterprise and continued solid mid-market performance, DiFucci tells investors in a research note. He views the stock as fairly valued at current levels. Salesforce closed yesterday down $4.40 to $54.11.
February 8, 2016
10:26 EDTCRMOptions with increasing implied volatility
Options with increasing implied volatility: WMB SPLK Z PANW CRM PAGP LGF SQQQ WDAY ETP
09:14 EDTCRMSoftware stocks should be bought aggressively after pullback, says Roth Capital
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07:30 EDTCRMSalesforce Q4 checks show strong deal momentum, says Deutsche Bank
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05:25 EDTCRMStocks with implied volatility movement; CRM FB
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February 5, 2016
16:12 EDTCRM, NOn The Fly: Top stock stories for Friday
Stocks began the session in negative territory and remained there throughout the day. The monthly jobs report showed job growth had slowed more that expected in January, along with indicating higher than expected wage inflation due to the minimum wage increases around the country. Also weighing on the market were the worse than expected forecasts from some companies with previously high-flying stocks, including professional social network operator LinkedIn (LNKD). The Nasdaq was the biggest decliner losing more than 3% of its value, though the S&P and Dow also finished with significant losses. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. Consumer credit surged $21.3B in December, topping the $16B increase that was expected. COMPANY NEWS: LinkedIn plunged 43.68% to $108.49 after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock. "Big Data" software provider Tableau (DATA) similarly issued full-year guidance significantly below expectations and also fell sharply, tumbling 49.57% to $41.27. A number of companies that sell software to businesses fell in the wake of their reports, including Splunk (SPLK), Qlik Technologies (QLIK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers following their earnings reports were packaged foods maker Post Holdings (POST), which gained 11.14% to $63.83, and meat producer Tyson Foods (TSN), which advanced Among the noteworthy losers was Lionsgate (LGF), falling 27% to $18.57 after its third quarter revenue and earnings declined, which the company attributed to the performance of its theatrical film slate. Lionsgate's post-earnings pullback also weighed on Starz (STRZA), which fell 22.2%. Bloomberg reported earlier in the week, citing sources, that Lionsgate had restarted talks to possibly acquire Starz. Also lower following their earnings reports were shares of Redbox parent Outerwall (OUTR), which fell 17.28%, and Hanesbrands (HBI), which slid 15.1%. INDEXES: The Dow fell 211.75, or 1.29%, to 16,204.83, the Nasdaq lost 146.42, or 3.25%, to 4,363.14, and the S&P 500 declined 35.43, or 1.85%, to 1,880.02.
13:34 EDTCRMSalesforce increases as shares trend to 20-month low
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12:12 EDTN, CRMOn The Fly: Top stock stories at midday
Stocks began the day lower and have seen little in the way of buying since the open. As the market digested the monthly jobs data and watched the price of oil turn negative, the selling that had taken a two day break was renewed. The Nasdaq is the biggest loser, falling over 2%, while the Dow is down about 1%. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. A report on Consumer Credit growth in December is due out at 3 pm ET. COMPANY NEWS: The shares of LinkedIn (LNKD) plunged 40% after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock... Also tumbling in the wake of its quarterly report was "Big Data" software provider Tableau (DATA), which fell 47% after its full-year guidance came in significantly below expectations. Tableau blamed its guidance miss on weaker IT spending trends, as well as competition, and a number of other companies that sell software to businesses also fell following its report, including peer Splunk (SPLK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers was Cempra (CEMP), which gained about 5% after it said that its solithromycin drug met primary and secondary objectives in its Phase 3 study. Also higher were Tyson Foods (TSN) and Post Holdings (POST), which gained 10% and 11.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Vertex (VRTX), which fell 5% after the FDA said that it cannot currently approve a label expansion for Kalydeco in children with residual function mutations. Also lower were Lion's Gate (LGF), YRC Worldwide (YRCW), and Redbox-parent Outerwall (OUTR), which were down 33%, 30%, and 17%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 171.21, or 1.04%, to 16,245.37, the Nasdaq was down 110.39, or 2.45%, to 4,399.17, and the S&P 500 was down 27.10, or 1.41%, to 1,888.35.
11:21 EDTNTableau guidance weighs down enterprise software space
The shares of Tableau (DATA) are tumbling after the company reported stronger than expected fourth quarter earnings and revenue, but its full-year guidance came in significantly below expectations. A number of analysts responded to the news by cutting their price targets on the developer of software used to analyze data. WHAT'S NEW: Tableau reported Q4 earnings per share of 33c, versus the consensus outlook of 16c, and the company's revenue came in slightly above expectations. However, the company provided fiscal 2016 EPS guidance of 22c-35c, versus the consensus outlook of 62c. Moreover, its 2016 revenue guidance came in at $830M-$850M ,versus the consensus outlook of $871M. Tableau said it expects 2016 to be "another investment year," adding that the productivity of its sales force declined last year. Tableau blamed its guidance miss on weaker IT spending trends and competition. ANALYST REACTION: Tableau's Q4 results missed the expectations of some investors, wrote Jefferies analyst John DiFucci, who cut his price target on the name to $65 from $92. Qlik Sense, a free desktop product offered by Tableau's competitor, Qlik Technologies (QLIK), may be negatively impacting Tableau, DiFucci believes. Meanwhile, Tableau's execution risk is increasing as the size of its deals rise, added the analyst, who kept a Hold rating on the shares. DiFucci noted that a softening spend environment was given as a reason for Tableau's disappointing guidance, but said he continues to hear of a decent spending environment in the field. However, Stifel analyst Tom Roderick wrote that Tableau's results show that the global economic slowdown has begun to negatively impact IT spending. Calling the company a victim of the large growth it has generated in the past, the analyst believes that the company's competitive position is still strong. He cut his price target on the name to $100 from $145 but kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Tableau tumbled 46% to $44.41. Other companies that sell software to businesses also fell, with "Big Data" peer Splunk (SPLK) plunging 24% to $35.84, Qlik falling 18% to $20.51, NetSuite declining 12.5% to $61.40 and Workday (WDAY) dropping 14.5% to $55.47.
February 3, 2016
08:42 EDTCRMSalesforce should be bought at current levels, says JMP Securities
JMP Securities says its checks indicate that Salesforce had a strong Q4, leaving the company poised to deliver strong fiscal 2017 results. The firm adds that the promotion of Keith Block, who headed all customer-facing activities, to COO suggests that the company's business momentum is strong. It keeps a $90 price target and Outperform rating.
08:09 EDTCRMSalesforce shares will eventually reflect top tier position, says Canaccord
Canaccord said Salesforce remains a top tier company and its shares will eventually reflect it with a much higher stock price. The firm continues to believe the company can grow revenues more than 20% and earnings more than 25% per year. Canaccord reiterated its Buy rating and $95 price target on Salesforce shares.
February 2, 2016
16:52 EDTCRMSalesforce announces new core Salesforce editions for Sales Cloud, Service Cloud
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14:28 EDTCRMSpeculation of Salesforce customer loss likely inaccurate, says JPMorgan
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14:14 EDTCRMSalesforce shares defended at JPMorgan
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09:46 EDTCRMSalesforce puts active amid speculation of a potential customer loss
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09:41 EDTCRMRumor: Salesforce active amid speculation of a potential customer loss
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09:02 EDTCRMSalesforce names Keith Block as COO
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05:41 EDTORCLStocks with implied volatility movement; ORCL COP
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February 1, 2016
13:42 EDTCRMEarnings Watch: Alphabet to report Q4 results under new corporate structure
Alphabet (GOOG, GOOGL) is expected to report fourth quarter earnings after the market close on Monday, February 1 with a conference call scheduled for 4:30 pm ET. Alphabet is a multinational conglomerate that serves as the parent company of Google, Calico, GV, Google Capital, and Nest Labs. EXPECTATIONS: Analysts are looking for earnings per share of $8.09 on revenue of $20.77B. The consensus range is $7.32-$8.59 for EPS, and $20.33B-$21.68B for revenue, according to First Call. LAST QUARTER: Alphabet reported third quarter EPS of $7.35 against estimates of $7.21, on revenue of $18.7B against estimates of $18.53B. Google reported Q3 aggregate paid clicks up 23%, paid clicks on Google websites down 5%, aggregate cost-per-clicks down 11%, and cost-per-click on Google websites down 4%. The company also reported Q3 Sites revenue up 16% to $13.08B and Q3 Total advertising revenue up 13% to $26.78B. During its Q3 earnings report, the company said it will begin to disclose the Google business as a single segment in Q4. It also announced that the board authorized the company to repurchase $5.1B of Class C shares in Q4. GOOGLE SEGMENT: Alphabet announced that it will report Google as a single segment within its company beginning in Q4. It stated, "The new operating structure is being introduced in phases. For financial reporting purposes, we expect the reorganization will result in disclosing our Google business as a single segment and all other Alphabet businesses combined as Other Bets beginning in the fourth quarter of 2015." Within Alphabet, the Google segment now has 6 products with over 1B users, including Search, Maps, YouTube, Chrome, Android and Google Play. Gmail is also closing in on the mark with its 900M user base. RBC Capital believes that the disclosure of segment results by Google in conjunction with its Q4 results will cause the stock to rerate. The firm believes that the segment results will highlight the high profits of core Google, supporting an increase in the stocks' sum of the parts valuation. NEWS AND STREET RESEARCH: In the past quarter, Alphabet had a strong holiday season with ChannelAdvisor reporting Google Shopping was up 31.7% over the entire holiday period. Specifically, Google Shopping was up 35.9% on Thanksgiving, up 40.3% on Black Friday, up 25.7% on Cyber Saturday, and up 18.6% on Cyber Monday. Alphabet announced the redesigned launch of Google+ in November, the exploration of Fiber in Chicago and Los Angeles, and announced plans to open its first retail store in New York City. The company also targets the China launch of the Google Play app store in 2016, according to multiple reports. Lenovo (LNVGY) CEO Chen Xudong confirmed that Google Play is expected to come to China at some point this year. The company is expected to make its self-driving car company under the Alphabet structure as a stand-alone business. Ford (F) and Google are in discussions over self-driving cars, with the currently negotiated contract likely to "last a long time." According to a Reuters report, Google expects fewer software failiures in self-driving cars as it learns from its mistakes. Google tested solar-powered Internet drones and expects consumer package delivery via drone to begin in 2017. Google is also in talks with the NFL for streaming rights for London games next year. STREET RESEARCH: Oppenheimer said cloud providers like Alphabet may have a huge opportunity in the coming years. The firm said Alphabet may look for a major partner like Salesforce (CRM) to drive its cloud business. Cantor said Google ad revenue growth should continue to be strong and BMO Capital said Alphabet's outlook has improved as valuation has become more reasonable. Bernstein said the Street continues to underestimate the resilience and growth potential of Alphabet's search ad business and YouTube. Barron's, in particular, was extremely positive on YouTube, saying its revenue per viewer could potentially double in five years. It added it could be twice as valuable as Netflix (NFLX). JMP Securities was also bullish on the company, saying Alphabet benefitted from a relatively strong holiday season for online advertising. Ahead of its Q4 earnings report, JMP Securities expects the company to report "relatively strong" results. PRICE ACTION: Google shares have gained about 6% over the last three months. In Monday afternoon trading ahead of the Q4 report, Google shares are up almost 2%
08:08 EDTCRMSalesforce to hold a company event
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