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  • Tue, Oct. 18, 10:06 PM
    • Among a cache of Colin Powell emails released by hackers was a presentation prepared in May for the (NYSE:CRM) board (on which sits Powell) titled "M&A Target Review."
    • Partial presentation slides
    • The 60-slide document identified 14 possible acquisition targets. Among them were Adobe Systems (NASDAQ:ADBE), whose market cap of $53.7B is above that of Salesforce, and Pegasystems (NASDAQ:PEGA), with a $2.3B valuation.
    • The list also included Demandware, which Salesforce ended up buying, and LinkedIn, which the company lost in a bidding war with Microsoft.
    • Others: Workday (NYSE:WDAY), ServiceNow (NYSE:NOW), NetSuite (NYSE:N), Tableau (NYSE:DATA), Veeva Systems (NYSE:VEEV), BOX, Zendesk (NYSE:ZEN), HubSpot (NYSE:HUBS).
    • CEO Marc Benioff earlier this month when fending off complaints about his interest in Twitter: “We look at a lot of things and we pass on almost everything."
    | Tue, Oct. 18, 10:06 PM | 13 Comments
  • Tue, Oct. 18, 3:42 PM
    • Analyst Marshall Senk sets a $90 price target ($72.65) on Salesforce (CRM -0.2%), projecting a H2 rebound from negative impact softness, mainly in the U.S., had in Q2.
    • Forecasts FY 2017 revenue at $8.289B and EPS at $0.94 (consensus – $8.31B, $0.95). For FY 2018, Senk models $10.02B in revenue and $1.27 of EPS (consensus – $10.08B, $1.27).
    | Tue, Oct. 18, 3:42 PM
  • Sun, Oct. 16, 9:49 AM
    • "Value investing works like clockwork, but sometimes your clock has to be very slow," says Joel Greenblatt, asked in a Barron's interview about the recent underperformance of some of his funds. The man behind the classic "You Can Be A Stock Market Genius" also published a barely-read "The Big Secret For The Small Investor" five years ago, noting, among other things, that average investors tend to dump good strategies at precisely the wrong time.
    • Favorite longs in his long/short portfolio now include Apple (NASDAQ:AAPL), with double-digit cash flow yields vs. the S&P 500 at less than half of that. "People worry that it’s effectively a hardware company that will crash and burn. But it’s also an ecosystem of products that play with one another and a brand people like."
    • He owns not just Apple, he says, but a "bucket" of Apples - companies with gushing cash flow, huge returns on capital, and nice market niches. Qualcomm (NASDAQ:QCOM) and CVS fit the bill.
    • On the short side is (NYSE:CRM) at 218x pretax earnings and 7x sales. Even if optimistic earnings estimates prove true, it's still selling for 50x. Others include Costco (NASDAQ:COST) - a great retailer, but still a retailer - at 28x earnings, but not growing and also competing with Amazon. Another is Caterpillar (NYSE:CAT), which has fans thanks to its 3.5% yield, but doesn't earn enough to pay that dividend.
    • Gotham funds: GENIX, GARIX, GONIX, GINDX
    | Sun, Oct. 16, 9:49 AM | 48 Comments
  • Fri, Oct. 14, 3:01 PM
    | Fri, Oct. 14, 3:01 PM
  • Fri, Oct. 14, 2:11 PM
    • Antitrust approval has already been granted in the U.S., Canada and Brazil.
    • A November 22 deadline has been set by the European Commission to review the arrangement. If concerns arise, an extended investigation would be opened.
    • Salesforce (CRM +6.2%), looking to generate added complication, has attacked the deal claiming competition would be hurt should it go through. With today's news the company won't be making a bid for Twitter along with prior commentary, the suggestion LinkedIn (MSFT, LNKD) was the asset Salesforce truly desired to win seems increasingly tenable.
    | Fri, Oct. 14, 2:11 PM | 6 Comments
  • Fri, Oct. 14, 1:40 PM
    • Salesforce (CRM +5.3%) CEO Marc Benioff in an interview with the Financial Times notes Twitter (TWTR -6.5%) "wasn't the right fit for us" for "many different reasons."
    • Salesforce was considered to be one of the only suitors remaining in a potential Twitter acquisition, and with its departure, leaves the table seemingly empty.
    | Fri, Oct. 14, 1:40 PM | 53 Comments
  • Thu, Oct. 13, 6:07 PM
    • Salesforce Lightning for Gmail and coordination between Sales Cloud (NYSE:CRM) and Google Sheets (GOOG, GOOGL).
    • Salesforce Lightning for Gmail – Records stored on Salesforce can be accessed and new ones can be created from within Gmail, with contacts able to be imported from a user's Gmail address book into Salesforce. Not currently available, a pilot version of Lightning for Gmail will be available at the end of this year (free for Salesforce customers).
    • Sales Cloud, Google Sheets – View, edit, delete and sync records between Sheets and Salesforce. Also to be available in beta by end of year.
    • Peeking into the future of work with Salesforce
    • Earlier this week: Facebook launches Workplace
    | Thu, Oct. 13, 6:07 PM | 4 Comments
  • Tue, Oct. 11, 9:33 AM
    | Tue, Oct. 11, 9:33 AM | 20 Comments
  • Mon, Oct. 10, 4:15 PM
    • Although Salesforce was thought to be out of the mix as of this weekend, a new report has the company nonetheless still evaluating the benefits a deal could represent and what an appropriate valuation surrounding one might be.
    • Potentially lowball offer cited to be under deliberation.
    • Meanwhile, in an internal memo reportedly sent out to Twitter employees last week, CEO Jack Dorsey made no mention of any deals, instead highlighting initiatives revolving around the company's live strategy and other merits.
    • Twitter (NYSE:TWTR+0.63% after hours, Salesforce (NYSE:CRM-0.25%.
    | Mon, Oct. 10, 4:15 PM | 63 Comments
  • Mon, Oct. 10, 1:24 PM
    • Formerly known as Facebook at Work.
    • The project had been in closed beta for more than a year, though Facebook notes 1K organizations so far utilize the service (India, the U.S., Norway, UK and France cited as top countries).
    • As of today, worldwide availability begins for "any company or organization that wants to use it."
    • With this move marking Facebook's (FB +1.1%) first major foray into enterprise, Slack (Private:SLACK), Microsoft (MSFT +0.3%), Salesforce (CRM +6.6%), Atlassian (TEAM +0.7%) and others will be on watch going forward.
    • Workplace, Pricing
    • Last week: Facebook introduces dedicated events app
    | Mon, Oct. 10, 1:24 PM | 58 Comments
  • Mon, Oct. 10, 8:56 AM
    • Alphabet, The Walt Disney Co. and others had already been considered ruled out from the list of interested parties at one point contemplating a possible acquisition of Twitter (NYSE:TWTR).
    • Over the weekend, a Bloomberg report noted Salesforce (NYSE:CRM), once thought to be seriously involved in the situation, is additionally not expected to pursue a deal.
    • Salesforce shares have been pressured by the rumors in recent weeks, though are up 3% in pre-market trading as its interest is now supposedly fading.
    | Mon, Oct. 10, 8:56 AM | 41 Comments
  • Thu, Oct. 6, 7:13 AM
    | Thu, Oct. 6, 7:13 AM | 54 Comments
  • Wed, Oct. 5, 7:08 PM
    | Wed, Oct. 5, 7:08 PM | 121 Comments
  • Wed, Oct. 5, 4:05 PM
    • In an interview with Jim Cramer on CNBC, Benioff doesn't offer much.
    • He does note Salesforce (NYSE:CRM) evaluates and considers all possibilities whether it's involving Twitter or not, citing previous acquisitions Quip, Demandware, Krux etc. Further: "But in the scheme of things, if you look back at my track record as a CEO, I think you'll find that while I look at a lot of things, I actually pass on most."
    • With speculation linking Salesforce and Twitter (NYSE:TWTR) closer than ever before, clarity on the situation from either company remains evasive.
    • Earlier: Salesforce shares record steepest decline yet on reignited Twitter-interest reports; -7%
    | Wed, Oct. 5, 4:05 PM | 17 Comments
  • Wed, Oct. 5, 11:36 AM
    • Salesforce (CRM -7.3%hasn't reacted positively to various levels of speculation linking it to a potential Twitter (TWTR +4.1%) acquisition, and with the most recent buzz out of The Wall Street Journal portending the company could be very serious about it, investors are flat out rejecting the idea.
    • Mizuho Securities analyst Abhey Lamba projects a buyout by Salesforce could dissolve $12B-$17B of value and take 2-3 years to restore. Further: "We remain concerned about management's quest for acquiring Twitter. Management did not directly address the issue but there is too much information in media to ignore the potential." Does maintain an Overweight rating and $85 target on Salesforce (current price $64.47) while noting investors should remain cautious until intentions clarify.
    • Twitter's up 31% since September 22, the day before takeover speculation began seriously recirculating, while Salesforce is now down 9.5% over that same term.
    | Wed, Oct. 5, 11:36 AM | 20 Comments
  • Tue, Oct. 4, 7:03 PM
    • Twitter (TWTR -2%) is expected to field bids from suitors this week, and an especially interested Marc Benioff of calls it an "unpolished jewel," The Wall Street Journal reports.
    • Twitter has moved up 3% after hours following the news.
    • Gathering actual bids suggests the sale of the company is much closer than before. And while Salesforce (CRM +3%) would love to make a splash by acquiring Twitter's voluminous data, Google (GOOG +0.5%, GOOGL +0.3%) and Disney (DIS +0.1%) are expected to be part of the action too, according to WSJ's sources.
    • Twitter has untapped potential in advertising, e-commerce and data-rich applications, Salesforce chief Benioff figures -- though he may also be motivated by losing out to Microsoft in a race to buy LinkedIn. And at a price of $20B or more, it would be tougher to swallow for Salesforce (market cap of $49.2B) than for Alphabet ($539.9B) or Disney ($148.2B).
    • After hours: CRM -0.8%.
    | Tue, Oct. 4, 7:03 PM | 92 Comments