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Stock Market & Financial Investment News

News Breaks
February 12, 2014
10:42 EDTWDAY, NTAP, CSOD, CRMCornerstone 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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April 17, 2015
13:31 EDTNTAPSymantec approached NetApp, EMC about potential Veritas sale, Bloomberg says
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09:36 EDTCRMActive equity options trading on open
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April 16, 2015
17:55 EDTWDAY, CRMCloud computing firms lower after ServiceNow reports Q1 results, guidance
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09:07 EDTCRMSalesforce.com's chief architect Scott Hansma joins LendingClub
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08:18 EDTWDAYEvery growth investor should have some exposure to Workday, says Canaccord
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April 15, 2015
11:23 EDTCRMSalesforce.com participates in a meeting with Stephens
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April 14, 2015
10:16 EDTNTAPHigh option volume stocks
High option volume stocks: NSAM ALU CJES BIG CMRX ERIC NTAP TMO KN CIG
April 13, 2015
12:42 EDTCRMFly Watch: Wells says ServiceNow likely to unveil upbeat revenue target
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07:08 EDTNTAPSources: Symantec exploring Veritas sale 'for months,' Reuters reports
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April 10, 2015
08:30 EDTWDAYWorkday to hold financial analyst day
Financial Analyst Day to be held in San Francisco on April 15 at 12 pm. Webcast Link
05:57 EDTCRMSalesforce.com implied volatility of 27 at lower end of index mean range
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April 9, 2015
06:05 EDTCRMSalesforce.com implied volatility of 27 at lower end of index mean range
April 8, 2015
09:05 EDTWDAYWorkday expands New York headquarters within Empire State Realty portfolio
Workday (WDAY) has expanded its New York headquarters within the Empire State Realty (ESRT) portfolio, relocating from approximately 7,000 square feet at One Grand Central Place to 21,401 square feet on the 49th floor of the Empire State Building.
06:00 EDTCRMSalesforce.com implied volatility of 28 at lower end of index mean range
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April 7, 2015
16:55 EDTNTAPXerox upgraded to Buy ahead of Q1 results at Citigroup
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