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News Breaks
August 30, 2013
10:15 EDTN, CRM, reaches new 52-week high after raising outlook
Shares of enterprise cloud computing provider (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, 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 analysts’ consensus of 33c. FY14 revenue was raised to $4B-$4.025B from $3.96B-$4B, versus consensus of $3.99B. ANALYST REACTON: This morning,’s price target was raised at three separate firms, namely UBS, Credit Suisse, and RBC Capital. All cited the company’s better than expected Q2 results. PRICE ACTION: In early morning trading, 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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July 7, 2015
16:19 EDTORCLOracle seeks $200M in damages and injunction in Rimini lawsuit
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13:57 EDTCRMWorkday rises after being called 'better' buyout target for Microsoft
Workday (WDAY) shares are inching higher this afternoon after The Information said the company is "the better [acquisition] choice" for Microsoft (MSFT), were the tech giant to pursue an entry into customer and employee tracking software. WHAT'S NEW: The Information's Steve Nellis today said that while both "Salesforce (CRM) and Workday have enough revenue momentum to help Microsoft become a major seller" in the customer relationship/human capital management space, Workday is the "better choice for several reasons, including the fact that Salesforce’s products feel dated." WHAT'S NOTABLE: Today's report from The Information comes after Salesforce was upgraded to Buy from Hold at Brean Capital. Among other factors, Brean identifies Salesforce's product improvements as a positive for the company. Steve Nellis does not appear convinced, saying Workday has the edge in products. The upward move follows speculative reports and rumors in recent months that Microsoft has eyed a Salesforce takeover. PRICE ACTION: Shares of Workday are up about 1% to $77.41 this afternoon, while Salesforce has risen just under 0.5%.
12:14 EDTCRMWorkday should be bought by Microsoft, The Information's Nellis says
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11:19 EDTCRMBrean Capital ups Salesforce citing improved revenue outlook
Research firm Brean Capital upgraded (CRM) to Buy from Hold in a note to investors today, saying that the company is poised to obtain more revenue from its marketing and services products. Additionally, Salesforce should benefit from its newer products and the increased integration of its offerings, the firm contended. WHAT'S NEW: Pent-up demand for better ad management tools will drive sales of Salesforce's marketing products, according to Brean Capital analyst Sarah Hindlian. Meanwhile, the company's service cloud offerings will generate more revenue due to changes in customer service trends, Hindlian believes. Additionally, Salesforce's new products and the increased integration of its clouds will enable it sell all of its offerings more effectively, boosting its overall revenue and margins, she contended. Following the release of its newer products, Salesforce provides better coverage of the entire customer lifecycle, increasing its ability to sell all of its systems together, the analyst explained. Hindlian raised her fiscal 2017 and fiscal 2018 estimates for the company slightly above consensus levels, and set an $85 price target on the shares. OTHERS TO WATCH: Other companies offering cloud-based digital engagement solutions include eGain (EGAN), Zendesk (ZEN) and LivePerson (LPSN). PRICE ACTION: In late morning trading, Salesforce dropped 0.7% to $68.69.
10:00 EDTCRMOn The Fly: Analyst Upgrade Summary
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05:30 EDTCRMSalesforce upgraded to Buy from Hold at Brean Capital
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July 6, 2015
10:01 EDTNOn The Fly: Analyst Downgrade Summary
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07:19 EDTNNetSuite downgraded to Underweight from Neutral at Piper Jaffray
July 2, 2015
07:57 EDTORCLOracle weakness a buying opportunity, says Canaccord
Canaccord said the recent dip in Oracle is a good chance to buy the shares as their investment thesis remains unchanged. The firm noted the Q4 earnings disappointment and its recent sell-off and trimmed its estimates accordingly. Canaccord continues to expect a several point multiple expansion on its free cash flow based valuation as investors gain confidence in the company's transition to the Cloud. Canaccord reiterated its Buy rating and $50 price target on Oracle shares.
June 30, 2015
12:59 EDTCRMSalesforce management to meet with UBS
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05:59 EDTORCLGartner: Worldwide IT spending on pace to decline 5.5% in 2015
Worldwide IT spending is on pace to total $3.5T in 2015, a 5.5% decline from 2014, according to the latest forecast by Gartner, Inc. Analysts attribute the decline to the rising U.S. dollar. In constant-currency terms, the market is projected to grow 2.5%. In Gartner's previous forecast in April, it had forecast IT spending to decline 1.3% in U.S. dollars and grow 3.1% in constant currency. "We want to stress that this is not a market crash. Such are the illusions that large swings in the value of the U.S. dollar versus other currencies can create," said John-David Lovelock, research vice president at Gartner. "However, there are secondary effects to the rising U.S. dollar. Vendors do have to raise prices to protect costs and margins of their products, and enterprises and consumers will have to make new purchase decisions in light of the new prices." Communications services will continue to be the largest IT spending segment in 2015 with spending at nearly $1.5T. However, this segment is also experiencing the strongest decline among the five IT sectors. In the device market, mobile phones continue to be the leading segment, with growth in Apple phones, especially in China, keeping overall phone spending consistent. However, overall smartphone unit growth will start to flatten. The PC and tablet market continues to weaken. The expected 10 percent increase in average PC pricing in currency-impacted countries is going ahead, delaying purchases even more than expected. Excessive PC inventory levels, especially in Western Europe, need to be cleared, which will delay Windows 10 inventory in the second half of the year. Within the data center systems segment, storage and network markets are both expected to see weaker growth in U.S. dollar terms as a result of the appreciation of the U.S. dollar. Reference Link
June 29, 2015
10:54 EDTORCLGoogle denied appeal by U.S. Supreme Court in Oracle copyright case
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June 28, 2015
16:00 EDTCRMFormer Salesforce CFO Graham Smith to depart June 30
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12:47 EDTCRMTech sector earnings 'melt away' when accounting for stock comp, Barron's says
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June 26, 2015
06:17 EDTORCLConcerns over AWS pricing overblown, says Piper Jaffray
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June 23, 2015
10:47 EDTORCLOracle new services round out cloud platform, says Cantor
Cantor Fitzgerald analyst Brian White believes Oracle's addition of 25 new cloud services rounds out the Oracle Cloud Platform. He says Oracle is now in a unique position to competitively deliver cloud solutions to enterprise customers and keeps a Buy rating on the stock with a $48 price target.
06:04 EDTORCLOracle says extending enterprise cloud portfolio
At a live event yesterday, Oracle (ORCL) Executive Chairman of the Board and CTO Larry Ellison announced new additions to the Oracle Cloud Platform, a comprehensive, integrated suite of services that make it easier for developers, IT professionals, business users and analysts to build, extend and integrate cloud applications. With more than 24 new cloud services, the Oracle Cloud Platform "extends Oracle's leadership with the world's broadest and deepest portfolio" of SaaS, PaaS and IaaS. Newly available Oracle Cloud services include, Oracle Database Cloud - Exadata, Oracle Archive Storage Cloud, Oracle Big Data Cloud, Oracle Integration Cloud, Oracle Mobile Cloud, and Oracle Process Cloud. The Oracle Cloud Platform helps customers build new applications, extend existing ones, and easily move existing on-premises workloads to the cloud with no application changes. The services are designed to maximize end user experience and productivity; enable developers to manage and analyze data, rapidly develop, test and deploy applications; enable architects to quickly integrate across on-premises and cloud applications; and enable business users to drive rich business insights and enterprise collaboration. With the Oracle Cloud Platform, customers and partners are able to take advantage of the industry-leading Oracle middleware and database software that thousands of global organizations already use to run their own businesses, all delivered via cloud. The extensive level of automation that has been engineered into the Oracle Cloud, results in faster time-to-value, greater innovation, and lower cost for customers. "Oracle is growing really fast. We sold $426M worth of business in SaaS and PaaS last quarter, a 200 percent increase over the same quarter last year. That's an industry record, no company has ever sold that much in just one quarter," said Ellison. "Oracle is the only company on the planet that can deliver a complete, integrated, standards-based suite of services at every layer of the cloud. Those technology advantages enable us to be much more cost-effective than our competitors. Our new Archive Storage service goes head-to-head with Amazon Glacier (AMZN) and it's one-tenth their price."

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