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Stock Market & Financial Investment News

News Breaks
February 12, 2014
10:42 EDTCRM, WDAY, NTAP, CSODCornerstone OnDemand weak after results, analysts remain upbeat
Shares of cloud computing company Cornerstone OnDemand (CSOD) are dropping after the company reported in-line revenue and lower than expected profit. A number of analysts, however, were upbeat about the company following its results. WHAT'S NEW: Cornerstone OnDemand, which provides cloud-based management talent management solutions, reported a fourth quarter earnings per share loss, excluding some items, of 3c. Analysts' consensus estimate was 0c. The company provided slightly lower than expected first quarter revenue guidance, and its fiscal 2014 profit guidance came in significantly below expectations. On the other hand, the company's fiscal 2014 revenue guidance was ahead of the consensus outlook. Cornerstone stated that its momentum remains strong, noting that its bookings jumped 51% last quarter, versus the same period a year earlier. The company added that it had been able to significantly grow its sales to midmarket companies last year, while expanding its service into new industries, such as automotive, energy, and consumer products. ANALYST REACTION: In a note to investors, Pacific Crest analyst Brendan Barnicle wrote that Cornerstone's billing growth should enable the company to grow over the long-term. Moreover, the company's decision to increase investments in its business seem warranted, added the analyst. He increased his price target on the stock to $60 from $55 and kept an Outperform rating on the shares. Also upbeat on Cornerstone was JMP Securities analyst Patrick Walravens. Cornerstone's revenue guidance was "solid," and its "rapid growth" can continue, wrote the analyst, who hiked his price target on the shares to $70 from $56 and kept an Outperform rating on the stock. OTHERS TO WATCH: Other companies that provide cloud-based solutions include Workday (WDAY), salesforce.com (CRM), and NetApp (NTAP). PRICE ACTION: In mid-morning trading, Cornerstone fell 64c, or 1.1%, to $57.70.
News For CSOD;WDAY;CRM;NTAP From The Last 14 Days
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August 20, 2015
05:55 EDTNTAPStocks with implied volatility above IV index mean; NTAP ATML
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August 19, 2015
18:34 EDTNTAPOn The Fly: After Hours Movers
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18:08 EDTNTAPNetApp advances after Q1 results and current quarter guidance top estimates
Share of computer data software and systems provider NetApp (NTAP) are advancing after reporting first quarter results that surpassed analyst expectations and provided better than expected guidance for the second quarter. WHAT'S NEW: NetApp reported Q1 profit and revenue that surpassed analysts' average estimates. The company reported Q1 earnings per share of 29c on revenue of $1.34B. Analysts were expecting EPS of 23c on revenue of $1.32B. Looking ahead to Q2, the company expects to report EPS of 55c-60c on revenue of $1.4B-$1.5B. Consensus estimates for Q2 were 46c for EPS and $1.39B for revenue at the time of the report. NetApp CEO George Kurian said, "The IT industry as a whole is going through fundamental change as enterprises transform themselves with digital capabilities. Data is at the heart of these transformations and where NetApp has a profoundly important role to play with our differentiated vision for data management." WHAT'S NOTABLE: On the company's Q1 earnings call, the CEO noted the transformation of IT environments. Customers are reducing their spend on traditional storage "which has put pressure on our ONTAP 7 mode business," Kurian noted. The CEO also pointed out that customers are slowing investment in the capacity expansion of their traditional storage environments. These dynamics put pressure on product revenue despite strong growth in other parts of the business, the CEO said. NetApp sees fiscal year 2016 revenue to be lower by 5% year-over-year as FX headwinds continue along with limited top line predictability. ANALYST TAKE: On August 17, Summit Research analyst Srini Nandury downgraded NetApp to Sell, saying dynamics in the storage industry as well as the company's Cluster ONTAP product transition will make revenue growth "elusive in the near-term." Weaker storage spending and continued problems with getting customers to upgrade to Cluster ONTAP could drive consensus estimates lower from current levels, Nandury told investors in a research note. PRICE ACTION: Shares of NetApp are up 6.75% in after-hours trading, but off their earlier after-hours high.
17:44 EDTNTAPNetApp sees FY16 revenue to down about 5%
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16:05 EDTNTAPNetApp spikes over 15% after reporting Q1 results, guidance
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16:03 EDTNTAPNetApp sees Q2 EPS 55c-60c, consensus 46c
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16:02 EDTNTAPNetApp reports Q1 EPS 29c, consensus 23c
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15:53 EDTNTAPNetApp August 29.5 straddle priced for 5.3% movement into Q1
14:48 EDTNTAPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include L Brands (LB), consensus 68c... NetApp (NTAP), consensus 23c... Synopsys (SNPS), consensus 59c... Popeyes Louisiana Kitchen (PLKI), consensus 44c... Semtech (SMTC), consensus 24c.
14:16 EDTNTAPNetApp technical comments ahead of earnings
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13:30 EDTNTAPOptions with increasing put volume;
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12:53 EDTNTAPEarnings Watch: Analysts mostly bearish on NetApp ahead of Q1 earnings
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08:01 EDTCRMSalesforce outlook has improved, says Oppenheimer
After conducting checks, Oppenheimer is more confident in Salesforce's business momentum. The firm thinks the company's business performed well at the end of Q2, as it closed a large number of big deals. Oppenheimer is upbeat on the outlook for Wave and says that a Fortune 500 company appears to be planning to increase its spending on the Salesforce1 platform. The firm says that the Fortune 500 company's decision has multiple positive implications for Salesforce. It reiterates an Outperform rating on the shares.
06:31 EDTCRMSalesforce commercial business momentum moderating, says Jefferies
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August 18, 2015
13:36 EDTNTAPNetApp August volatility elevated into Q1 and outlook
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10:58 EDTCRMSalesforce August volatility elevated into Q2 and outlook
Salesforce August call option implied volatility is at 96, September is at 44; compared to its 52-week range of 25 to 59, suggesting large price movement into the expected release of Q2 results on Aug 20.
08:01 EDTCRMSalesforce dip post earnings should be bought, says Canaccord
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August 17, 2015
10:09 EDTNTAPOn The Fly: Analyst Downgrade Summary
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09:14 EDTCRMSalesforce checks decent heading into Q2 results, says Brean Capital
Brean Capital said checks look decent for Salesforce.com heading into Q2 results. The firm expects difficult foreign exchange and macro headwinds but sees ongoing demand for Service Cloud with some large deals closing during the quarter. Brean Capital expects the shares to continue to perform well in the second half of the year and reiterated its Buy rating and $85 price target on Salesforce.com shares.
06:04 EDTNTAPNetApp downgraded to Sell from Hold at Summit Research
Summit Research analyst Srini Nandury downgraded NetApp (NTAP) to Sell saying dynamics in the storage industry as well as the company's Cluster ONTAP product transition will make revenue growth "elusive in the near-term." Weaker storage spending and continued problems with getting customers to upgrade to Cluster ONTAP could drive consensus estimates lower from current levels, Nandury tells investors in a research note. Further, the analyst believes NetApp continues to lose high sales performers to competitors such as Nimble Storage (NMBL), Pure Storage, Tegile and Tintri. He expects the company's FY16 revenue to decline 6% on top of the 3% decline in FY15, with only modest growth in FY17. Nandury cut his price target for NetApp shares to $28 from $32. The stock closed Friday up 13c to $30.75.
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