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Stock Market & Financial Investment News

News Breaks
April 9, 2014
10:33 EDTORCL, MKTO, CTCTConstant Contact surges after preliminary Q1 revenue beats consensus
Shares of marketing tools maker Constant Contact (CTCT) are surging after the company reported preliminary first quarter revenue that exceeded analysts' projection. WHAT'S NEW: Last night, Constant Contact reported that it expected first quarter revenue to be between $78.7M-$78.8M, while analysts consensus view was $77.34M. The company raised its FY14 revenue guidance to approximately $330M, while analysts consensus had been just above $323M. Constant Contact, which had previously seen FY14 revenue growth of more than 13%, said its current revenue guidance of $330M represents more than 15.5% year-over-year revenue growth. WHAT'S NOTABLE: During Constant Contact's conference call, the company said that its better-than-expected first quarter revenue growth resulted from a strong performance from each of its growth levers, which include new customer additions, ARPU and retention. The company said it added 50K gross customers and 10K net new customers in the first quarter. Looking ahead to the balance of FY14, Constant Contact said it expects that the gains in the first quarter will flow through the remainder of the year. The company noted that the increase of its FY14 revenue guidance represents a new baseline with opportunities for further gains over the course of the year. In the coming weeks, Constant Contact also said it is planning to launch Toolkit, which is a new integrated business platform offering to small businesses that had previously only been available to larger enterprises. ANALYSTS REACTION: Dougherty upgraded Constant Contact today following the better than anticipated preliminary first quarter results that the company announced yesterday, taking its rating on the shares up to Hold from its prior Sell rating. PRICE ACTION: During morning trading, shares of Constant Contact rose 27.5% to $27.95. OTHERS TO WATCH: Other providers of marketing software and solutions include Marketo (MKTO) and Responsys, which was recently acquired by Oracle (ORCL).
News For CTCT;MKTO;ORCL From The Last 14 Days
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February 5, 2016
10:13 EDTMKTOHigh option volume stocks
High option volume stocks: SC YRCW MKTO MT LNKD EPAM SBGL ALLY QLIK
February 4, 2016
09:03 EDTMKTOMarketo and Wunderman partner for digital marketing solution
Marketo and Wunderman, a global digital agency, announced a strategic partnership designed to put data and measurement behind every customer interaction, a solution jointly called "insight-driven engagement." Through the partnership, brands that leverage Wunderman's full suite of services will now also be able to execute, track, and optimize their campaigns through Marketo.
February 3, 2016
09:03 EDTMKTOMarketo names Jason Hoffman Chief Security Officer
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February 2, 2016
05:41 EDTORCLStocks with implied volatility movement; ORCL COP
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January 26, 2016
10:34 EDTMKTOBattleground: BofA says sell NetSuite, DA Davidson still bullish
Over the last two days, analysts have issued mixed views on NetSuite (N), with Bank of America Merrill Lynch and Stephens downgrading the shares, while research firm DA Davidson argued in its own note to investors that the company should report better than expected fourth quarter results on January 28. NetSuite develops cloud based financial and enterprise resource planning, or ERP, tools for businesses. BEARISH TAKE: Bank of America Merrill Lynch analyst Kash Rangan downgraded NetSuite to Underperform, the firm's equivalent of a sell rating, from Neutral today. The company has increased its sales force by about 40%, but its billings are accelerating by only about 30%, the analyst stated. Moreover, NetSuite's operating margins are expected to come in at only about 4% in 2016, making it difficult for investors to value the stock on a price to earnings or enterprise value to free cash flow basis, Rangan believes. The stock may face obstacles if its billings growth doesn't accelerate significantly or if its operating margin doesn't increase to 10%-12%, Rangan wrote. Meanwhile, the company is facing tough competition from Microsoft (MSFT) in the mid-market and from other players at the lower end, according to the analyst, who cut his price target on the name to $80 from $95. Also writing that NetSuite is facing increased competition, Stephens analyst Alex Zukin yesterday downgraded the stock to Equal Weigh from Overweight. These competitive pressures along with changes to the company's organizational structure, the loss of a number of its "marquee" customers, and its premium valuation, led to the downgrade, Zukin stated. He slashed his price target on the stock to $75 from $100. BULLISH TAKE: NetSuite's Q4 results should beat expectations, with revenue coming in at $207.6M, above the company's guidance range of $202M-$205M and the consensus outlook of $204.4M, predicted DA Davidson analyst Jack Andrews. The company will report EPS of 5c, versus the consensus outlook of 4c, estimated Andrews. NetSuite can continue to increase its market share at the expense of mid-tier ERP vendors, believes the analyst, who reiterated a $130 price target and Buy rating on the shares. WHAT'S NOTABLE: In the same note to investors this morning, Merrill Lynch's Rangan also downgraded Paylocity (PCTY) and Marketo (MKTO) to Underperform from Neutral and it cut his rating on Red Hat (RHT) to Neutral from Buy. Paylocity provides payroll and human capital management software to medium businesses, while Marketo provides cloud-based marketing tools and Red Hat provides open source software solutions. PRICE ACTION: In early trading, NetSuite fell 3.6% to $65.45.
10:00 EDTMKTOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Amec Foster Wheeler (AMFW) downgraded to Hold from Buy at HSBC... CVR Refining (CVRR) downgraded to Sell from Neutral at Goldman... Cenovus Energy (CVE) downgraded to Neutral from Buy at UBS... Clean Harbors (CLH) downgraded to Underperform from Market Perform at Raymond James... Core Laboratories (CLB) downgraded to Reduce from Hold at HSBC... Delek US (DK) downgraded to Neutral from Buy at Goldman... Deutsche Post (DPSGY) downgraded to Underperform from Outperform at Credit Suisse... Disney (DIS) downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities... Dorian LPG (LPG) downgraded to Market Perform from Outperform at Wells Fargo... Encana (ECA) downgraded to Neutral from Buy at UBS... Fortinet (FTNT) downgraded to Hold from Buy at Deutsche Bank... Fortune Brands (FBHS) downgraded to Neutral from Outperform at Credit Suisse... General Growth (GGP) downgraded to Equal Weight from Overweight at Barclays... Golden Ocean (GOGL) downgraded to Underweight from Neutral at JPMorgan... Grupo Mexico (GMBXF) downgraded to Neutral from Overweight at JPMorgan... Halliburton (HAL) downgraded to Hold from Buy at HSBC... Marketo (MKTO) downgraded to Underperform at BofA/Merrill... Navios Maritime (NM) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Underperform at BofA/Merrill... OM Asset Management (OMAM) downgraded to Equal Weight at Morgan Stanley... Paylocity (PCTY) downgraded to Underperform from Neutral at BofA/Merrill... Pennsylvania REIT (PEI) downgraded to Underweight from Equal Weight at Barclays... Pinnacle West (PNW) downgraded to Hold from Buy at Evercore ISI... Public Storage (PSA) downgraded to Equal Weight from Overweight at Barclays... Red Hat (RHT) downgraded to Neutral from Buy at BofA/Merrill... Regal Entertainment (RGC) downgraded on valuation at RBC Capital... Rouse Properties (RSE) downgraded to Equal Weight from Overweight at Barclays... Star Bulk Carriers (SBLK) downgraded to Neutral from Overweight at JPMorgan... Stratasys (SSYS) downgraded to Neutral from Overweight at JPMorgan... Subsea 7 (SUBCY) downgraded to Reduce from Hold at HSBC... US Ecology (ECOL) downgraded to Market Perform from Outperform at Raymond James... USG (USG) downgraded to Underperform from Neutral at Credit Suisse... Vornado (VNO) downgraded to Equal Weight from Overweight at Barclays... Weir Group (WEIGY) downgraded to Underperform from Hold at Jefferies.
07:11 EDTMKTOMarketo downgraded to Underperform at BofA/Merrill
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06:27 EDTMKTOMarketo downgraded to Underperform from Neutral at BofA/Merrill
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