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Stock Market & Financial Investment News

News Breaks
August 19, 2014
05:29 EDTSAPSAP invests $500M in Africa
SAP announced a seven-year plan to up-skill local African talent and drive sustainable innovation and growth in Africa. With more than 1,300 customers across the continent, SAP is already enabling African businesses and governments of all sizes to grow, scale and globalize, as well as make the transition to a networked, technology-driven innovative economy. As part of this commitment, SAP Africa is now taking responsibility for SAP operations across 51 African countries, including Morocco, Algeria and Tunisia and Mauritania.With the vision of helping make Africa run better and improve the lives of Africans, SAP plans to invest up to $500M through 2020 as it continues to build on the region's impressive double-digit growth rate momentum. The goal is to establish the African region as one of the company's top-five growth markets globally. Much of the direct investment will be outside South Africa, where SAP already has a solid footprint.
News For SAP From The Last 14 Days
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May 27, 2015
14:47 EDTSAPAnalysts debate Workday after post-earnings selloff
Last night's results and guidance from Workday (WDAY) prompted a selloff in the stock a several cautious notes from research firms. However, multiple analysts remain bullish on the company and see strong prospects hidden behind the "relatively conservative" guidance. WHAT'S NEW: After the market close on Tuesday, Workday reported first quarter losses per share of (2c) on revenues of $251M, both of which beat consensus estimates. However, the company's second quarter revenue guidance of $270M-$274M bracketed the consensus forecast of about $272M. ANALYST REACTIONS: Brean Capital's Sarah Hindlian noted that traders were likely disappointed by the lack of major client announcements for Workday's FMS product, but said she believes FMS will be successful in the long term. Hindlian added that she expects Workday to become a "clear winner" eventually, but warned of a significant correction in the stock and noted that "significant" R&D spending is required before the company can capture the full market and she reiterates a Hold rating on the stock. Jefferies' John DiFucci and Brad Zelnick were less hopeful, saying the company's 31% billings growth versus 69% last year reflects "very aggressive" competition from Oracle (ORCL) and SAP (SAP), which could signal lessened momentum for Workday. The firm believes renewals may be a bright spot for the company going forward, but kept a Hold rating on the stock and cut its price target to $92 from $99 on the shares. Wells Fargo's Jason Maynard said the company's "relatively conservative" guidance is likely due to some lag in large deal signings as well as a relatively slow acceleration in Europe. The firm lowered its price target to $105-$110 from $110-$120, but remained optimistic on Workday, citing "extremely strong" renewals, new client wins in human capital management, and a maturing financial product. Richard Davis and David Hynes from Canaccord lowered Workday's price target to $100 from $110, but nevertheless said they believe the company faces a "decade of growth." The firm was not surprised at the recent selloff and recommended using weakness in the stock price to fill out investment positions in Workday. PRICE ACTION: Workday is down over 10% to about $83 per share in afternoon trading. Oracle and SAP are up roughly 1.8% and 1%, respectively.
05:20 EDTSAPJefferies cuts Workday price target on moderating growth
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May 26, 2015
09:58 EDTSAPOn The Fly: Analyst Initiation Summary
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06:38 EDTSAPMicrosoft buying Salesforce 'makes a lot of sense,' says Piper Jaffray
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06:25 EDTSAPSAP initiated with a Market Perform at Cowen
Target $80.
May 20, 2015
17:36 EDTSAPSalesforce says looking to surpass SAP
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05:57 EDTSAPSAP CEO says Salesforce unlikely to be acquired, Reuters reports
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