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salesforce.com, inc.

5/20/2013, 1:18 PM ET

Quote & Headlines Market Currents StockTalk

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| On the move

Thursday, May 16, 7:05 PM Integrator checks suggest demand for Salesforce's (CRM +3%) Service Cloud customer support platform is "picking up significantly," and that Force.com and the mainstay Sales Cloud continue to see "good growth," writes Wedbush's Steve Koenig ahead of next Thursday's FQ1 report. Koenig also thinks Salesforce has "plenty of running room" to sell to additional divisions within large accounts. He has heard "anecdotal reports" of discounts, but thinks they're "limited to the low-end." FBR estimated in January Service Cloud now accounts for 30% of Salesforce's new deal activity. 1 Comment [Tech]
Thursday, May 16, 12:16 PM Cisco JV partner EMC (EMC +4.5%) joins the list of companies rallying in response to Cisco's FQ3 beat and guidance. Cisco mentioned on its earnings call integrated hardware solutions such as Vblock (offered by the Cisco/EMC VCE JV) are driving demand for its UCS servers - Cisco's UCS unit saw 77% Y/Y rev. growth. All in all, it's a good day for enterprise IT names, who are happy to receive some good earnings news after getting plenty of bad news (I, II, III, IV). HPQ +1.7%. IBM +1.3%. ORCL +1.3%. VMW +2.6%. TIBX +4.1%. CTXS +3.9%. CRM +3.8%. JIVE +4.1%. NTGR +2.7%. CVLT +2.6%. INFA +3%. (others rallying: I, II) 1 Comment [Tech, On the Move]
Thursday, May 9, 6:39 PM Salesforce (CRM) has bought Clipboard, a startup that (as its name suggests) allows users to save/store a variety of Web content in a central location. A source tells AllThingsD the deal's price was in the $10M-$20M range. The standalone Clipboard service will be shut down; look for Salesforce to integrate the underlying tech into its Chatter enterprise social networking platform, which Marc Benioff recently declared would become the primary UI for all of Salesforce's software. Comment! [Tech, M&A]
Tuesday, April 23, 12:04 PM Salesforce (CRM +2.5%) integrates its offerings a little more by launching Social.com, an app for its Marketing Cloud platform for creating/managing social media ad campaigns. The product, which Salesforce claims is the first solution to integrate social media advertising and monitoring, complements the monitoring tools acquired from Radian6, and the publishing tools it acquired from Buddy Media. Salesforce, which competes with ORCL and CTCT in this space, also promises integration with its flagship CRM software. The announcement comes after Marc Benioff outlined plans to integrate Chatter with Salesforce's CRM software. Comment! [Tech]
Monday, March 25, 6:27 PM Going forward, Salesforce's (CRM) Chatter enterprise social networking platform will serve as the primary UI for Salesforce's software, says Marc Benioff. The announcement comes shortly after Salesforce announced a mobile-centric refresh for Chatter, and 6 months after Benioff (with typical modesty) predicted tools such as Chatter would foster an enterprise "trust revolution." Industry analyst Michael Krigsman sees the UI change as a risky move, given Chatter relies on a Facebook/Twitter-like activity stream. Comment! [Tech]
Thursday, March 21, 4:33 PM Salesforce (CRM) officially announces a 4-for-1 stock split; shares are expected to begin trading on a split-adjusted basis on April 18. The move had been widely expected after Salesforce asked shareholders to support it in a January proxy. They gave their approval at yesterday's annual meeting (transcript). Nonetheless, CRM +0.5% AH. (PR) 2 Comments [Tech]
Thursday, March 21, 11:39 AM Evercore and CLSA have downgraded Oracle (ORCL -8.8%) following its FQ3 miss and light top-line guidance. The numbers have many worried about the impact of cloud apps ... and not just on application software sales. "As customers move to the cloud, you get a lot of the functionality consolidated ... so you need less hardware and less databases and middleware," says Pac Crest. UBS is still bullish: "Historically when they have a miss it’s a great time to buy." Interestingly, cloud rivals are higher - WDAY +1.4%, CRM +0.4%, N +1.2% - even as other peers follow the tech sector lower. IBM -1.6%. INFA -1.6%. RHT -1.1%. (transcript) 4 Comments [Tech, On the Move]
Wednesday, March 20, 1:26 PM H-P's (HPQ +0.8%) internal processes are being overhauled left and right, says tech/operations chief John Hinshaw ahead of today's shareholder meeting. The changes, which cover sales, procurement, and much else, may have contributed to H-P's FQ1 EPS beat. A lot of the changes involve the use of cloud software: Hinshaw claims H-P has the world's largest Salesforce (CRM) and Workday (WDAY) implementations (ORCL software was replaced) and that using Salesforce has led to huge improvements in sales efficiency and job satisfaction. 3 Comments [Tech]
Wednesday, March 20, 12:34 PM FBN launches coverage on a slew of enterprise/cloud software and Web hosting/CDN service plays. Akamai (AKAM +1.9%), Equinix (EQIX +0.6%), VMware (VMW +1.3%), Citrix (CTXS +1.3%), Salesforce (CRM +0.7%), and NetSuite (N +1.7%) have been started at Outperform, while Rackspace (RAX +2.6%), Workday (WDAY), and Concur (CNQR -1.3%) have been started at Sector Perform. Comment! [Tech]
Monday, March 11, 4:49 PM Salesforce (CRM) announces a $1B offering of convertible senior notes due 2018. The company says it will use the proceeds for "general corporate purposes," possibly including acquisition. The announcement comes less than 2 weeks after Marc Benioff promised Salesforce will be aggressive on the M&A front. Salesforce had $521M in convertible debt as of Jan. 31, and $1.77B in cash and investments. 8 Comments [Tech]
Friday, March 1, 5:36 PM After-hours top gainers, as of 5:15 p.m.: OUTD +13%. AVD +8%. ITMN +7%. JAKK +7%. GTI +6%.
After-hours top losers: CRIS -13%. BPZ -10%. AFCE -8%. CRM -7%. MKTG -7%. 4 Comments [On the Move]
Friday, March 1, 1:00 PM Surging deferred revenue and healthy free cash flow (over 2x earnings) help Salesforce (CRM +7.8%) make new highs following its FQ4 report. Needham, lifting its PT to $200, is pleased 7 and 8-figure deals rose 50% Y/Y, albeit while admitting bookings growth (28%) benefited from forex and deal timing. On the earnings call, Marc Benioff promised more M&A - "We're going to buy small and big. We're going to be aggressive." - and boasted 3M+ apps have been developed on Heroku and Force.com. WDAY +2.2%. N +2%. MKTG +2.6%. ET +1.8%. ULTI +1.5%. Comment! [Tech, On the Move, Earnings]
Thursday, February 28, 5:59 PM After-hours top gainers, as of 5:15 p.m.: SFLY +8%. DECK +8%. XXIA +8%. CRM +5%. GRPN +4%.
After-hours top losers: YOKU -17%. OVTI -10%. TRX -8%. IEP -6%. SONS -6%. Comment! [On the Move]
Thursday, February 28, 4:51 PM More on Salesforce's FQ4: Deferred revenue balance +35% Y/Y to $1.86B, a little above rev. growth. Unbilled deferred revenue +59% to $3.5B (suggests major long-term deals were signed). Free cash flow +18% Y/Y to $231.5M, or $1.60/share. Americas revenue +34% Y/Y and 70% of total. Europe +37%, Asia-Pac +17%. Headcount +482 Q/Q to 9,801. Gross margin flat Y/Y at 78%. Sales/marketing spend +33% to $436M. Was +41% in FQ3 - slowdown contributed to EPS beat. R&D +50%, G&A +23%. CRM +4.9% AH. CC at 5PM ET (webcast). (PR) 6 Comments [Tech, Earnings]
Thursday, February 28, 4:11 PM Salesforce.com (CRM): FQ4 EPS of $0.51 beats by $0.11. Revenue of $834.7M (+32% Y/Y) beats by $3.9M. Expects FQ1 revenue of $882M-$887M and EPS of $0.40-$0.42 vs. a consensus of $886M and $0.42. Expects FY14 (ends Jan. '14) revenue of $3.82B-$3.87B and EPS of $1.93-$1.97 vs. a consensus of $3.85B and $1.95. Shares +5.2% AH. (PR) 6 Comments [Tech, Earnings, Breaking News, On the Move]
Thursday, February 28, 12:36 PM Heading into today's FQ4 report, Salesforce (CRM +0.4%) is close to its 2013 lows, but still above where it traded before a market-pleasing FQ3 report. Pre-earnings sell-side commentary is once more positive - Wedbush says checks indicate strong large enterprise deal activity and successful cross-selling, and William Blair believes "very large deals are in the pipeline." Ahead of the report, Salesforce has extended its Service Cloud customer support platform to mobile, and Marc Benioff has hinted at further product line expansion in the name of being a "customer company." Comment! [Tech]

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