Seeking Alpha
  • Today - Friday, September 19, 2014

  • 7:39 AM
    • China Sunergy (NASDAQ:CSUN) says CEO Stephen Zhifang Cai is resigning for personal reasons; Chairman Tingxiu Lu, one of the company's founders, will become the new CEO.
    • Lu served as CEO during parts of 2006-07 and has been Chairman since 2007.
    | Comment!
  • 7:39 AM
    • PAR Technology (NYSE:PAR) announces the acquisition of Brink Software for an undisclosed amount.
    • The company notes that Brink has cloud-based POS software which will be complementary to its services for the hospitality industry.
    | Comment!
  • 4:49 AM
    • Despite cancelling the launch of its homegrown Tizen operating system already twice this year, a company exec now says Samsung (OTC:SSNLF, OTC:SSNGY) will attempt the release again in November.
    • With the new OS, Samsung is looking to lessen its reliance on Google' Android, which currently powers the vast majority of the mobile devices sold by the South Korean giant.
    | 1 Comment
  • 4:01 AM
    • Thousands are lining up all over the world for Apple's (NASDAQ:AAPL) new release of the iPhone 6 and 6 Plus. The record demand for the bigger-screen smartphones has already outstripped supply, with preorders selling out last week.
    • The two went on sale today in Australia, Hong Kong, Singapore and Japan, before rolling out in France, Germany, Puerto Rico, Canada and the U.S.
    • The iPhone release is Apple's most important event this year, with the devices generating more than half of the company’s $171B revenue in 2013.
    | 11 Comments
  • 2:52 AM
    • Vivendi (OTCPK:VIVHY) has signed a final agreement to sell its Brazilian wireline carrier GVT to Telefonica (NYSE:TEF) in a deal worth around €7.2B (9.3B) in cash and shares.
    • Vivendi will also receive a 7.4% stake in Telefonica Brasil (NYSE:VIV), at a stock market value of €2B, and a 5.7% stake in Telecom Italia (NYSE:TI), valued at €1B as of Sept. 18.
    | 1 Comment
  • Thursday, September 18, 2014

  • 6:56 PM
    • Once their merger officially closes, RF Micro (NASDAQ:RFMD) and TriQuint (NASDAQ:TQNT) will be known as Qorvo, and trade under the symbol QRVO.
    • The companies (or their marketing departments) claim the new name "conveys the combined company's ability to deliver the core technologies and innovation that will enable customers to launch their next-generation designs even faster."
    • RF Micro and TriQuint shareholders have already approved the all-stock merger, which will result in each investor base owning about half of the post-merger company.
    | 1 Comment
  • 6:45 PM
    • Tibco (NASDAQ:TIBX) guided on its FQ3 CC for FQ4 revenue of $290M-$305M and EPS of $0.18-$0.24, below a consensus of $313M and $0.32.
    • The company blames its FQ3 miss on a shift to subscription licensing from up-front payments - Oracle has offered a similar excuse for its near-term issues - and weaker-than-expected European sales. At the same time, Tibco claims it saw "a solid sequential improvement" for sales of its Spotfire analytics/data visualization platform, which had slumped earlier this year.
    • FQ3 software license revenue -20% Y/Y to $85.9M, with subscription revenue totaling $13.2M; service/maintenance revenue (driven by past deals) +4% to $169.6M.
    • GAAP sales/marketing spend grew 11% to $93.2M, while R&D spend fell 3% to $41.9M.
    • Tibco is just 15 days removed from officially launching a strategic review.
    • FQ3 results, PR
    | Comment!
  • 6:26 PM
    • As part of its announced plans to cut 18K jobs (14% of its workforce), Microsoft (NASDAQ:MSFT) laid off 2.1K people today. The company also announced it's shutting down a Silicon Valley research lab focused on distributed computing R&D.
    • A Microsoft spokesperson calls the move a consolidation of the company's West Coast labs. Microsoft currently has a dozen labs worldwide.
    • While the Nokia phone unit is set to see the brunt of Microsoft's job cuts (~12.5K cuts), some other units are also expected to be hard-hit. Microsoft has already confirmed the closure of its Xbox content studio ops, and is reportedly planning to lay off Windows test engineers as it moves to a faster release cycle.
    | 2 Comments
  • 5:54 PM
    • Red Hat (NYSE:RHT) guides on its FQ2 CC for FQ3 revenue of $449M-$452M and EPS of $0.40, below a consensus of $457.8M and $0.41. FY15 (ends Feb. '15) guidance is healthier: revenue of $1.77B-$1.85B and EPS of $1.53-$1.55 vs. a consensus of $1.78B and $1.54.
    • The Linux/middleware vendor's deferred revenue balance was up 18% Y/Y at the end of FQ2 to $1.25B; that growth rate is slightly below FQ1's 20%. On the other hand, subscription revenue growth picked up slightly to 19% from 18%.
    • GAAP sales/marketing spend +20% Y/Y to $174.5M; R&D +22% to $95.3M; G&A +17% to $44.7M. $80M was spent on buybacks, even with FQ1.
    • Shares went into earnings not far from their 52-week high of $62.69.
    • FQ2 results, PR
    | Comment!
  • 5:40 PM
    • Oracle (NYSE:ORCL) guides on its FQ1 CC for FQ2 Y/Y revenue growth of 0%-4%, and EPS of $0.66-$0.70. That's below a consensus for 4.8% growth and EPS of $0.74.
    • Software/cloud revenue is expected to grow 3%-6% Y/Y vs. 6% in FQ1, and hardware revenue is expected to be flat to down 10%. SaaS/PaaS revenue is expected to grow 39%-44%, and IaaS revenue 40%-44%.
    • Oracle largely blames the near-term weakness on a transition to cloud subscriptions from up-front licenses, though it also admits execution issues are hurting hardware and services sales. Micros is expected to provide a slight boost to FQ2 results.
    • Shares -2.3% AH.
    • Prior Oracle coverage.
    | Comment!
  • 5:30 PM
    • Alibaba's (Pending:BABA) IPO price is at the high end of a $66-$68 range. The Chinese e-commerce giant is valued at $167.6B - 20x FY14 (ended March '14) sales and 45x FY14 earnings.
    • Yahoo (NASDAQ:YHOO) +0.5% AH. Alibaba begins trading tomorrow.
    • Related tickers: OTCPK:SFTBF, OTCPK:SFTBY
    • Prior Alibaba coverage, prospectus
    | 28 Comments
  • 5:24 PM
    • SAP is paying $129/share, or an enterprise value of $8.3B, to acquire top cloud travel/expense management software vendor Concur Technologies (NASDAQ:CNQR). The price represents a 20% premium to Concur's Thursday close.
    • The deal is expected to close in Q4 2014 or Q1 2015, and will be financed using a €7B credit facility. SAP notes Concur claims 23K+ customers and 25M+ active users.
    • The purchase is the latest in a string of major cloud software acquisitions by SAP, which is counting on cloud growth to offset slumping traditional license sales. Other major cloud-related purchases include SuccessFactors, Ariba, and hybris.
    • Previous: Concur reportedly approached SAP, Oracle about acquisition
    | 2 Comments
  • 5:13 PM
    • Glu's (NASDAQ:GLUU) shelf registration clears the way for a slew of investors to collectively sell up to 9.98M shares (10% of outstanding shares) in the future.
    • Selling shareholders include multiple entities tied to recently-acquired Cie Games. Cie Digital Labs is looking to sell up to 2.14M shares, and Cie co-founder Justin Choi 3M.
    | 15 Comments
  • 5:00 PM
    • Bloomberg reported on Sep. 2 Concur (NASDAQ:CNQR) had approached SAP and Oracle to gauge their interest in an acquisition.
    | 1 Comment
  • 4:56 PM
    • EPIQ has "commenced a process to explore a full range of strategic and financial alternatives, which may include among other things, acquisitions, divestitures or a going-private or recapitalization transaction."
    • The company has also adopted a poison pill. Its moves come after activist St. Dnis J. Vilere & Co. (16% stake) called on Epiq to put itself on sale.
    • Shares are halted. They'll resume trading at 5:15PM ET.
    • Update (6:30PM): Epiq is up just 0.5% AH after resuming trading. Shares had rallied strongly yesterday in response to Vilere & Co.'s move.
    | Comment!
  • 4:29 PM
    • Oracle (NYSE:ORCL) has added $13B to its buyback plan; that's good for repurchasing 7% of shares at current levels. As it is, $2B was spent on buybacks in each of the last three quarters.
    • Software and cloud revenue (76% of total revenue) rose 6% Y/Y in FQ1 to $6.6B, hitting the low end of guidance for 6%-8% growth. However, new software license revenue (pressured by cloud competition) fell 2% to $1.37B.
    • License update/product support revenue (fairly stable) rose 7% to $4.7B. Cloud app (SaaS) and app platform (PaaS) revenue rose 32% to $337M, towards the high end of guidance for 25%-35% growth. Cloud infrastructure (IaaS) revenue grew 26% to $138M, topping guidance for 10%-20% growth.
    • Hardware revenue (hurt by UNIX server declines) remains weak, falling 8% to $1.17B; that's soundly below guidance for -1% to +3% growth. Hardware products -14%, support -1%. Services revenue -7% to $855M.
    • GAAP opex +2% to $5.6B; sales/marketing spend +5% to $1.71B, R&D +7% to $1.32B.
    • Shares -2.3% AH. CC at 5PM ET, guidance will be provided.
    • FQ1 results, CEO news, PR
    | Comment!
  • 4:11 PM
    • Along with its FQ1 results, Oracle (NYSE:ORCL) announces Larry Ellison is resigning as CEO. President/ex-H-P CEO Mark Hurd and CFO Safra Catz will act as co-CEOs going forward.
    • Ellison, 69, is taking over the role of chairman from Jeff Henley, who has held it for 10 years, and has also been named CTO. Henley is now vice chairman.
    • Sales, service, and "vertical industry global business units" will report to Hurd. Manufacturing, finance, and legal teams will report to Katz. Software and hardware engineering teams will continue reporting to Ellison.
    • Director Michael Boskin: "Larry has made it very clear that he wants to keep working full time and focus his energy on product engineering, technology development and strategy."
    • Shares -2.7% AH following the news and Oracle's FQ1 miss.
    | 9 Comments
  • 4:08 PM
    • Tibco Software (NASDAQ:TIBX): FQ3 EPS of $0.14 misses by $0.04.
    • Non- GAAP Revenue of $259.6M (-4.2% Y/Y) misses by $12.88M.
    • Shares -5.00%.
    • Press Release
    | Comment!
  • 4:07 PM
    • Red Hat (NYSE:RHT): Q2 EPS of $0.41 beats by $0.03.
    • Revenue of $445.9M (+19.1% Y/Y) beats by $8.77M.
    • Shares +0.56% AH.
    • Press Release
    | Comment!
  • 4:03 PM
    • Oracle (NYSE:ORCL): FQ1 EPS of $0.62 misses by $0.02.
    • Revenue of $8.6B (+2.6% Y/Y) misses by $180M.
    • Shares -3.49% AH.
    • Press Release
    | 1 Comment
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