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Stock Market & Financial Investment News

News Breaks
February 12, 2014
10:42 EDTCSOD, WDAY, CRM, NTAPCornerstone 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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October 29, 2014
06:10 EDTWDAYWorkday's Human Capital Management solutionselected by Rolls-Royce
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October 28, 2014
07:27 EDTNTAPWilliam Blair 'puzzled' over NetApp acquisition
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07:24 EDTNTAPNetApp holds a panel discussion at conference
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07:23 EDTCRMSalesforce.com added to Best Ideas List at Morgan Stanley
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October 27, 2014
16:03 EDTNTAPNetApp buys Riverbed's SteelStore product line for $80M
NetApp (NTAP) announced the acquisition of Riverbed Technology's (RVBD) SteelStore product line in an all-cash transaction for approximately $80M. he SteelStore product supports leading backup applications and cloud providers so that customers have a choice in how they extend their existing data protection infrastructure into the cloud. NetApp will offer enterprises cloud-integrated storage to securely and efficiently back up their data to both private and public cloud environments. NetApp expects that the SteelStore product will be available during its fiscal third quarter of 2015.
09:05 EDTWDAYAdobe announces partnership with Workday
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October 26, 2014
15:53 EDTCRMSalesforce looks to establish presence in healthcare, Reuters says
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October 22, 2014
11:25 EDTNTAPCisco sale of VCE stake to have limited impact, says Wells Fargo
Wells Fargo thinks Cisco's (CSCO) decision to sell a portion of its stake in VCE is unlikely to have a material near-to-intermediate-term impact on the company's top line since it will continue to sell its networking and compute solutions to the joint venture. Wells says Cisco's "budding" partnerships with NetApp (NTAP), Microsoft (MSFT) and Citrix (CTXS) should more than offset any potential impacts from lessening ties to EMC (EMC) and VMware (VMW).
October 21, 2014
07:45 EDTCRMMicrosoft CEO touts cloud revenue run-rate over $4B, BI reports
At a press event yesterday, Microsoft (MSFT) CEO Satya Nadella provided a number of figures about the strong performance of the company's Azure cloud business, including a revenue run rate of nearly $4.4B and that Azure is adding 10,000 new customers every week to its 350M active directory user base, reported Business Insider, which noted that Amazon Web Services (AMZN) is estimated to have roughly $4B in annual sales and that Salesforce.com (CRM) had a little over $4B in revenues last year. Reference Link
06:40 EDTCRMForrester: Adobe becomes marketing cloud leader, VentureBeat reports
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October 17, 2014
07:44 EDTCRMSalesforce.com moving in right direction in every way, says Canaccord
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October 16, 2014
07:57 EDTCRMSalesforce president lays out vision for quadrupling revenue, WSJ reports
Salesforce (CRM) president and vice chairman Keith Block outlined his plan to grow the company's annual revenue to $20B at the company’s annual Dreamforce conference, said The Wall Street Journal, which noted that Block specifically said, “We want to be bigger than SAP.” Block's strategy involves expansion in new product areas, adding new packages of software tailored to a handful of high-value industries, and expanding sales efforts outside of North America, the Journal reported. Reference Link

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