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Workday (WDAY +3.9%) rallies after William Blair starts coverage with an Outperform. The launch...

Workday (WDAY +3.9%) rallies after William Blair starts coverage with an Outperform. The launch comes a day after partner Salesforce announced a partnership with rival Oracle, and Pac Crest struck an upbeat tone about Workday's new cloud recruiting product. The firm says checks indicate recruiting rivals Taleo and SuccessFactors are "far less competitive" following their respective acquisitions by Oracle (ORCL) and SAP, thanks in part major personnel defections (this is an issue bigger software firms often face when acquiring startups), and that Workday's "unique use of object-oriented technology and its proprietary in-memory data model" aid its efforts to enter the HR/finance analytics space.
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