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David Dyer

 
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  • The Salesforce Anomaly: Record Earnings And Ongoing Losses [View article]
    Appears to be outside shareholders, who buy shares on open market from insiders who are exercising their stock-based compensation plans at lower cost basis and realizing gains on sale.

    As I noted in a previous post, if Salesforce was sold, that would be an opportunity for outside shareholders to realize a gain on company wealth. I have no idea what the possibility or probability of such an event would be.
    Mar 6, 2013. 09:16 PM | Likes Like |Link to Comment
  • The Salesforce Anomaly: Record Earnings And Ongoing Losses [View article]
    Thanks for the input. Yes, you are correct, that was a $157.4 million tax provision at October 2012. So, this significant "provision for" resulted in a larger GAAP net loss of -$220.3 million at October 2012. This also resulted in a greater cumulative net loss or running total of same.

    In recent quarters, including the latest QE January 2013, CRM has been recording GAAP tax benefits of anywhere from about 20% to 76% of "Loss before benefit from (provision for) income taxes".

    I use the financial statements posted on a company's website via the earnings press release and any supplements. I may dig into SEC Forms, including 10Q, for more information on a particular item. I do look at Yahoo Finance analysts' estimates, however, for Revenue and EPS projections.

    Thanks for the info regarding the tax carryforward loss. If this item is reversed or portions expire, I'll so note when reconciling Non-GAAP and GAAP EPS, if material. This is an interesting and unusual item for a going concern.
    Mar 6, 2013. 09:11 PM | Likes Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    *crickets chirping*

    Yes, is quiet. I'll try to liven it up soon!
    Mar 3, 2013. 08:59 AM | Likes Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    Your CRM stock indicator is creative and interesting. :)
    Feb 27, 2013. 08:41 PM | Likes Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    Good Luck!
    Feb 27, 2013. 08:38 PM | Likes Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    From the technical analysis side, volatility is where the action is at for fast traders and algorithms. I think the high frequency trading software, flash trading, piles in on stocks like CRM. Just my opinion.
    Feb 27, 2013. 02:02 PM | 1 Like Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    What goes up must come down. AAPL can tell you about that.
    Feb 27, 2013. 01:59 PM | Likes Like |Link to Comment
  • Why The Salesforce GAAP Vs. Non-GAAP Divergence? [View article]
    Thanks for the clarification. I did misspeak and stand corrected.

    What comes to mind is the "delayed" non-cash charge-off (100% impairment) of approximately $1.2 billion of Compaq goodwill by HP in July 2012. Nobody even remembered Compaq by the time HP finally wrote it off.
    Feb 27, 2013. 01:44 PM | Likes Like |Link to Comment
  • Why The Salesforce GAAP Vs. Non-GAAP Divergence? [View article]
    Much appreciation for the info. Yes, the idea is you don't need an IT department, the cloud provider is that. That is CEO Benioff's pitch over at Salesforce (CRM).

    Actually "cloud" was around long ago, just not called that. Was offsite processing in the old days eventually via T lines. In many cases, based on existing technology, there was little choice (e.g. banks, insurance companies). Then I saw processing brought in-house via servers and networks as that evolved. Now I see processing going back out into the cloud. Full circle...

    HP is relatively new to open cloud, I believe. They call it CloudSystem. HP has other significant issues, such as their huge core business catching up with the leading edge of technology.
    Feb 27, 2013. 01:38 PM | Likes Like |Link to Comment
  • AIG Weathers Storm Sandy, Posts Profit [View article]
    I don't know the entire Lloyd's story, but I do know insurance can be a fast and unscrupulous game at the top, at the higher levels. However, insurance people were fun to go to happy hour with back in the day, lol.
    Feb 27, 2013. 01:26 PM | Likes Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    Thanks. We'll see. A lot of fast traders will be watching for the results after market close on Thursday.
    Feb 27, 2013. 12:24 AM | Likes Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    Current assets were typical at 10-31-12. "Nothing unusual noted", as auditors say. Cash, marketable securities, and account receivable were about $1.0 billion of the $1.2 billion in current assets.
    Feb 27, 2013. 12:10 AM | 1 Like Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    Yep, earnings plays, long or short, can backfire. In the early stages of the market rally after the March 2009 bottom, it was easy to play long on earnings pops for a few years.
    Feb 27, 2013. 12:06 AM | Likes Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    Thanks for the input. That is an interesting after hours scenario.

    Yes, that's why I said I was risk-averse rather than bearish. As I noted in a comment above, these type of stocks can defy gravity. AMZN also comes to mind in this category.

    Apparently, then, the institutional buyers are the ready, willing, and able buyers stepping up to buy the insiders' stock. Sweet if you are an insider. As long as they keep buying, all is well.

    No further response regarding the compliments to CEO Benioff except those are measured as I don't want to be 100% negative. He did come up with a tremendous idea and vision and promotes the same constantly. Plus I cannot help but think of the other CRM people that actually do the work and make it all happen with quality operations.
    Feb 27, 2013. 12:02 AM | Likes Like |Link to Comment
  • Salesforce Earnings Preview: 7th Consecutive GAAP Loss Expected [View article]
    Agree and watched the same thing you did over the years. In past years, I played the technical analysis side as a long.

    Fundamentals will ultimately prevail, though stocks seem to defy this (and therefore gravity) for longer than seemingly they should.

    Benjamin Graham said, "In the short run, the market is a voting machine but in the long run it is a weighing machine."

    Sometimes that "short run" is longer than we think it should be.
    Feb 26, 2013. 11:50 PM | 1 Like Like |Link to Comment
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