Thu, Dec. 8, 7:30 AM
- Philip van Doorn and team at Marketwatch put together a list of 18 S&P 500 names with consensus sell-side price targets at least 30% above the current price.
- Ten of the 18 stocks are in healthcare, which has been roughed up by a combination of Obamacare, Clinton's talk about drug pricing (back when all thought she would be the next POTUS), and now Trump joining in the bashing.
- The list (in order of possible upside): Mallinckrodt PLC (NYSE:MNK) - 56% potential upside, Endo International PLC (NASDAQ:ENDP) - 52% upside, Hanesbrands (NYSE:HBI) - 45% upside, Edwards Lifesciences (NYSE:EW) - 44% upside, Mylan (NASDAQ:MYL) - 42% upside, Allergan (NYSE:AGN) - 39% upside, Alexion (NASDAQ:ALXN) - 37% upside, Activision Blizzard (NASDAQ:ATVI) - 35% upside, Salesforce.com (NYSE:CRM) 34% upside, NRG Energy (NYSE:NRG) - 34% upside, Centene (NYSE:CNC) 34% upside, Gilead (NASDAQ:GILD) 33% upside, Facebook (NASDAQ:FB) 32% upside, Boston Scientific (NYSE:BSX) - 32% upside, Pitney owes (NYSE:PBI) - 32% upside, Molson Coors (NYSE:TAP) - 30% upside, Newell Brands (NYSE:NWL) - 30% upside, Zimmer Bioment (NYSE:ZBH) - 30% upside.
Fri, Dec. 2, 11:29 AM
- Salesforce (CRM +0.2%) to utilize AWS (AMZN +0.1%) infrastructure in Canada, marking the first AWS region to become supported as part of Salesforce's international infrastructure efforts.
- Delivery to customers of Salesforce's Sales Cloud, Service Cloud, Community Cloud, Analytics Cloud and other services on the the infrastructure will be enabled. Mid-2017 availability of the integrations is anticipated.
- Further related alliances are noted to be expected.
- Previously (May 25): Salesforce.com chooses Amazon Web Services for major migration
- Salesforce and Amazon Web Services
Thu, Dec. 1, 10:55 AM
- Notable early (2%+ losses): Alphabet (GOOGL -2.25%, GOOG, -2%) Facebook (FB -3.4%), Twitter (TWTR -3.9%), Oracle (ORCL -3.3%), Salesforce (CRM -4.2%), VMware (VMW -3.5%), Alibaba (BABA -2.7%)
- 5%+: Qualcomm (QCOM -4.9%), Nvidia (NVDA -7%), Advanced Micro Devices (AMD -7.1%), Micron Technology (MU -5.5%)
- 8%+: Cirrus Logic (CRUS -8.8%), Gigamon (GIMO -9.5%)
Fri, Nov. 18, 10:38 AM
- Yesterday: Salesforce +5%; Q3 over expectations, $10B revenue forecast set for 2018
- Buy, Outperform and associated positive ratings are reissued at Goldman Sachs (Conviction Buy), BTIG, Citi, Wunderlich Securities, Brean Capital and Barclays with respective targets set at $96, $100, $95, $101, $110 and $89.
- Salesforce (CRM +3.5%) shares are presently trading at $77.97, approximately 2% below pre-Q2 reporting levels. The prior quarter had sparked some concern (isolated U.S. softness etc.), though sentiment at present remains firmly in positive territory.
Fri, Nov. 18, 9:15 AM| Fri, Nov. 18, 9:15 AM | 1 Comment
Thu, Nov. 17, 5:35 PM
Thu, Nov. 17, 4:40 PM
- Results – revenue $2.14B (+25.1% Y/Y, $20M above estimates), EPS $0.24 ($0.03 above estimates), deferred revenue $3.5B (+23% Y/Y), unbilled deferred revenue $8.6B (+28% Y/Y), cash generated from operations $154M (-5% Y/Y), cash, cash equivalents and marketable securities $1.75B
- Segment revenues – Subscription and support $1.98B (+24% Y/Y), Professional services and other $161M (+39% Y/Y)
- Q4 projections – revenue $2.267B-$2.277B (+25%-26% Y/Y) [consensus $2.24B], EPS $0.24-$0.25 (consensus $0.25), deferred revenue growth Y/Y 22%-23%
- FY 2017 projections – revenue $8.365B-$8.375B (+25%-26% Y/Y) [consensus $8.31B], EPS $0.97-$0.98 (consensus $0.95), operating cash flow growth Y/Y 20%-21%
- FY 2018 projections – revenue $10.1B-$10.15B (+21% Y/Y)
- Salesforce (NYSE:CRM) chairman and CEO Marc Benioff: "I'm delighted to announce that we expect to deliver our first $10 billion year during our fiscal year 2018, which puts us well on the path to reach $20 billion faster than any other enterprise software company."
- Prior quarters overview
- Quarterly summary deck
- Conference call
- Press release
Thu, Nov. 17, 4:08 PM
Wed, Nov. 16, 5:35 PM
Wed, Nov. 2, 12:04 PM
- With Microsoft Teams, a "chat-based workspace" within Office 365.
- Workplace initiatives and integrations remain in focus throughout the industry with developments in the space now firmly underway at Facebook (NASDAQ:FB), Google (GOOG, GOOGL), Salesforce (NYSE:CRM), Slack (Private:SLACK), Atlassian (NASDAQ:TEAM) and elsewhere.
- General availability of Microsoft Teams (NASDAQ:MSFT) set for Q1 CY2017.
- Introducing Microsoft Teams
- Press release
Thu, Oct. 27, 1:58 AM
- Speaking at WSJ.D Live in California, Salesforce (NYSE:CRM) CEO Marc Benioff described the recent pair of key acquisitions that got away.
- Twitter: "We've never had a deal leak before... We had to stop because I'm running the business in partnership with my shareholders."
- LinkedIn: "We really liked some of the business fundamentals, [as opposed to Microsoft executives which] specifically said they will create a product that will create a barrier to entry of other companies."
Tue, Oct. 18, 10:06 PM
- Among a cache of Colin Powell emails released by hackers was a presentation prepared in May for the Salesforce.com (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, 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).
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 Salesforce.com (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
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.