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July 22, 2014
15:07 EDTMSFT, CRM, SAP, CAJ, CSCOEarnings Preview: Microsoft to report after Nadella makes big job cuts
Microsoft (MSFT) is scheduled to report results of its fourth fiscal quarter after the market close on Tuesday, July 22, with a conference call scheduled for 5:30 pm ET. Microsoft, a member of the Dow Jones Industrial Average, sells and licenses software to consumers and businesses, offers cloud computing and other business services, and markets hardware including the Xbox entertainment system, the Surface tablet and Nokia branded smartphones. EXPECTATIONS: Analysts are looking for earnings per share of 60c on revenue of $23.0B, according to First Call. The consensus range for EPS is 55c-66c on revenue of $22.24B-$23.5B. On its last earnings call, Microsoft said it sees Q4 devices & consumer licensing revenue $4.1B-$4.3B, Q4 commercial licensing revenue $13.1B-$13.3B, Q4 operating expenses of $8.4B-$8.6B and Q4 capital expenditures of $1.5B. LAST QUARTER: On April 24, Microsoft reported third quarter EPS of 68c, beating the consensus analyst forecast of 63c. It's revenue came in at $20.4B, nearly matching estimates for $20.39B. Microsoft reported that Q3 its devices and consumer revenue grew 12% to $8.3B, commercial revenue rose 7% to $12.23B, that Windows volume licensing revenue grew 11% and that Office 365 revenue grew over 100% and that commercial seats nearly doubled. NEWS: Less than a week ago, Microsoft announced a restructuring plan to simplify its operations and align the recently acquired Nokia Devices and Services business with the company's overall strategy. The steps will result in the elimination of up to 18,000 positions over the next year, with about 12,500 of those potential job eliminations coming in the Nokia business acquired by Microsoft in April. The company expects to incur pre-tax charges of $1.1B-$1.6B over the next four quarters, including $750M-$800M for severance and related benefit costs, and $350M-$800M of asset-related charges, but has not yet laid out what it expects to save as a result of the restructuring. Throughout this quarter, Microsoft has announced new or expanded deals or partnerships with SAP (SAP), Salesforce.com (CRM), Canon (CAJ) and Cisco (CSCO). STREET RESEARCH: On the day after Microsoft's last quarterly report, Bernstein said it believes that Microsoft's Q3 results indicate that the company is performing well. The firm thinks the company's cloud initiatives are starting to positively impact its results and it expects investors to start to focus on the company's cloud business. The firm raised its price target on the stock to $49 from $47 at that time and kept an Outperform rating on the shares. Similarly, Credit Suisse reiterated its Outperform rating on Microsoft that day and raised its price target to $47.50 following the Q3 report. The firm said the key takeaway was Office 365 momentum, which it viewed as a major positive. On June 5, FBR Capital upgraded Microsoft to Outperform from Market Perform, citing confidence in new CEO Satya Nadella's plan for the future and the company's "strong" cloud offerings. FBR raised its price target for shares to $49 from $43 to reflect its sum-of-the-parts analysis. On July 15, two days before Microsoft detailed the specifics of its restructuring, Nomura raised its price target on Microsoft to $50 from $45, saying at the time that it expects "bold organizational changes" to restore a culture of innovation. The firm cited the cultural change, combined with potential share buybacks and a headcount reduction, in reiterating its Buy rating on the stock. PRICE ACTION: Since the day after its last report, Microsoft has advanced about 12%. In afternoon trading ahead of tonight's report, Microsoft shares are fractionally lower near $44.67.
News For MSFT;CRM;SAP;CAJ;CSCO From The Last 14 Days
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September 8, 2014
08:10 EDTCRMSalesforce.com allocates $100M to venture capital fund for app builders
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07:34 EDTMSFTU.S. claims China breaks commitments amid Qualcomm, Microsoft probes, WSJ says
As Microsoft (MSFT) and Qualcomm (QCOM) are being investigated for potential monopolistic activity by Chinese regulators and lawmakers there recently alleged price manipulation by foreign automakers including Toyota (TM), Honda (HMC) and Daimler (DDAIF), the U.S. Chamber of Commerce alleged that China's use of its antimonopoly law has been subjective and its implementation skewed to favor China's local companies, reported The Wall Street Journal. Reference Link
06:37 EDTMSFTBaidu hires Microsoft's Zhang Yaqin, WSJ reports
Baidu (BIDU) has hired Zhang Yaqin, a top Microsoft (MSFT) executive in China, to become its president for new business,t he Wall Street Journal reports. Zhang was Microsoft's VP and chairman of its Asian-Pacific research and development group. Reference Link
06:21 EDTMSFTSmartwatch market to reach $10B by 2018, says Citigroup
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06:08 EDTMSFTMicrosoft gives MSN.com a facelift, Re/code reports
Microsoft has given MSN.com a major facelift a year after MSN was merged with Bing Apps, Re/code reports. The updated MSN will still feature news, sports and cars, but will also include interactive content involving food and fitness. MSN is expected to be fully rolled out by the end of the month, and optimized MSN apps for iOS and Android could be released by the end of hte year. Reference Link
September 5, 2014
07:17 EDTCRMSalesforce.com management to meet with UBS
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06:33 EDTMSFTMicrosoft, competitors aim to halt Google EU agreement, Reuters says
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September 4, 2014
15:26 EDTCSCOCisco UCS update further strengthens portfolio, says Cantor
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15:20 EDTCSCOCisco expands Unified Computing System portfolio
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13:56 EDTMSFTGetty Images files lawsuit against Microsoft over photo tool, Reuters reports
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10:32 EDTCSCOCisco, Red Hat expand relationship, launch solution for OpenStack
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06:30 EDTMSFTIDC: Phablet shipments to pass PCs in 2014, tablets in 2015, DigiTimes reports
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September 3, 2014
13:03 EDTSAP, CRMConcur advances after report says acquisition being explored
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09:15 EDTSAPOn The Fly: Pre-market Movers
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07:48 EDTSAPConcur a highly desirable M&A target, says UBS
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07:43 EDTCSCODCP selcets Zix email encryption to replace Cisco
Zix Corporation (ZIXI) announces that DCP has switched its email encryption solution from Cisco’s (CSCO) IronPort Encryption Appliance to Zix Email Encryption in a new three-year contract. DCP is a holding company for Bank of Washington, Citizens National Bank and United Bank of Union, and all bank employees will now use ZixCorp to protect financial information in email.
September 2, 2014
16:33 EDTSAPConcur explores sale, talks to SAP and Oracle, Bloomberg says
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13:04 EDTCSCOFinisar retreats after analyst cuts on pricing, demand worries
Shares of optical components maker Finisar (FNSR) are falling after research firm Jefferies downgraded the stock to Hold from Buy in a note to investors today, citing pricing and demand concerns. WHAT'S NEW: After conducting checks, Jefferies analyst James Kisner wrote that Finisar is facing "brutal" prices for datacom optics, particularly in China. Prices for telecom components in North America are also challenging for Finisar, he reported. Various low-cost competitors are driving down prices for datacom optics, while AT&T (T) is trying to force optical systems vendors to cut the prices of their components by 40%, Kisner stated. Meanwhile, demand for mobile backhaul optics slowed significantly in China over the last month, and two of Finisar's customers - Cisco (CSCO) and Huawei - are exploring alternatives to Finisar's products, Kisner indicated. Additionally, Intel (INTC) and numerous start-ups may launch products that will compete with those of Finisar, potentially cutting into its market share beginning in the second half of 2015, the analyst warned. He cut his price target on the shares to $19 from $25. PRICE ACTION: In early afternoon trading, Finisar slumped 5.5% to $19. Other optical components makers also dropped, with Oclaro (OCLR) falling 1% to $1.75 and JDS Uniphase (JDSU) losing 2% to $11.30.
12:42 EDTMSFTMicrosoft to launch Xbox One in 28 more countries this month
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06:34 EDTMSFTMicrosoft reduces Surface chassis suppliers, DigiTimes reports
Microsoft has reduced the number of chassis suppliers for its Surface tablets and outsourcing all the orders to Ju Teng, reports DigiTimes. According to sources from the upstream supply chain, Microsoft stopped placing chassis orders with its China-based supplier in August and may adopt a similar strategy for other components. Reference Link
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