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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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December 18, 2014
11:49 EDTCRMOracle soars to 52-week high after Q2 results beat estimates
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December 17, 2014
08:19 EDTCRMSalesforce.com announces launch of Salesforce Files Connect
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December 16, 2014
13:19 EDTCRMResearch firm sees Amazon spinning off AWS in 2015, CNBC reports
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06:59 EDTCSODCornerstone OnDemand upgraded to Outperform from Market Perform at Northland
December 15, 2014
07:33 EDTCRMSusquehanna to hold a tour
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December 12, 2014
06:41 EDTWDAYWorkday resumed with a Neutral at Piper Jaffray
Price target raised to $87 from $83.
06:36 EDTCRMSalesforce.com resumed with an Overweight at Piper Jaffray
Price target lowered to $64 from $74.
December 10, 2014
16:23 EDTCSODWasatch Advisors reports 10.3% passive stake in Cornerstone OnDemand
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13:10 EDTCRMSalesforce.com management to meet with FBR Capital
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10:53 EDTCRMSalesforce.com calls active on activist investor speculation
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10:05 EDTCRMRumor: Salesforce.com moves up on activist investor speculation
10:00 EDTNTAP, CSODOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with an Underperform at Longbow... AutoZone (AZO) initiated with a Buy at Nomura... C.H. Robinson (CHRW) initiated with a Neutral at Nomura... CSX (CSX) initiated with a Buy at Nomura... CVS Health (CVS) initiated with a Neutral at Citigroup... Canadian National (CNI) initiated with a Neutral at Nomura... Carrizo Oil & Gas (CRZO) initiated with a Buy at Canaccord... CenterPoint Energy (CNP) initiated with a Neutral at Nomura... Con-way (CNW) initiated with a Neutral at Nomura... Cornerstone OnDemand (CSOD) initiated with a Buy at BofA/Merrill... Depomed (DEPO) initiated with an Outperform at RBC Capital... Dollar General (DG) initiated with a Buy at Citigroup... Dollar Tree (DLTR) initiated with a Neutral at Citigroup... Dynagas LNG (DLNG) initiated with a Buy at ABN Amro... EMC (EMC) initiated with a Neutral at JPMorgan... Energy Focus (EFOI) initiated with a Buy at Roth Capital... Expeditors (EXPD) initiated with a Neutral at Nomura... GasLog (GLOG) initiated with a Buy at ABN Amro... Genesee & Wyoming (GWR) initiated with a Neutral at Nomura... Golar LNG (GLNG) initiated with a Sell at ABN Amro... HII Technologies (HIIT) initiated with a Buy at Roth Capital... Hudbay Minerals (HBM) initiated with an Overweight at Barclays... J.B. Hunt (JBHT) initiated with a Buy at Nomura... Kansas City Southern (KSU) initiated with a Buy at Nomura... Kroger (KR) initiated with a Buy at Citigroup... Lear (LEA) initiated with a Buy at Northcoast... Lundin Mining (LUNMF) initiated with an Overweight at Barclays... NetApp (NTAP) initiated with a Neutral at JPMorgan... Norfolk Southern (NSC) initiated with a Neutral at Nomura... PROS (PRO) initiated with an Outperform at Pacific Crest... Qlik Technologies (QLIK)initiated with a Buy at BofA/Merrill... Rentokil (RTOKY) initiated with a Neutral at UBS... Revolution Lighting (RVLT) initiated with a Buy at Roth Capital... ServiceNow (NOW) initiated with a Buy at BofA/Merrill... Stratasys (SSYS) initiated with a Neutral at Longbow... Suburban Propane (SPH) initiated with a Hold at Stifel... Tableau (DATA) initiated with a Buy at BofA/Merrill... Teekay LNG (TGP) initiated with a Buy at ABN Amro... Tessera (TSRA) initiated with a Buy at Sidoti... Union Pacific (UNP) initiated with a Buy at Nomura... Viper Energy (VNOM) initiated with a Buy at Stifel... Visteon (VC) initiated with a Buy at Northcoast... Walgreen (WAG) initiated with a Buy at Citigroup... Werner (WERN) initiated with a Neutral at Nomura.
07:39 EDTNTAPBMO Capital to hold a conference
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06:47 EDTCSODCornerstone OnDemand initiated with a Buy at BofA/Merrill
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06:36 EDTNTAPNetApp initiated with a Neutral at JPMorgan
JPMorgan sees a lack of catalysts for storage earnings in 2015 and views the valuations of both NetApp (NTAP) and (EMC) as full at current levels. The firm started shares of both companies with Neutral ratings. It has a $43.50 price target for NetApp shares.
December 9, 2014
06:00 EDTCRMSalesforce.com names YouTube CEO Susan Wojcicki to board
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December 8, 2014
07:32 EDTNTAPRaymond James to hold a conference
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07:28 EDTNTAP, CRMFBN Securities to hold a bus tour
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