Thu, Jul. 23, 5:43 PM
- NetSuite (NYSE:N) has used its Q2 earnings call to hike its full-year sales guidance to $735M-$745M from $730M-$743M; consensus is at $739.6M. EPS guidance of $0.21 is slightly below a $0.22 consensus.
- Also: NetSuite has announced COO Jim McGeever is the company's new president, replacing CEO Zach Nelson. McGeever, who will continue reporting to Nelson, is also joining the board. He'll now be in charge of "all customer, vertical, product and human resource activities;" as COO, he was already in charge of sales, service, and support teams.
- The cloud ERP/HR/e-commerce software firm's shares have risen to $95.00 AH.
- Q2 results, PR
Thu, Jul. 23, 4:13 PM
Wed, Jul. 22, 5:35 PM
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Thu, Jul. 16, 3:39 PM
- "That's stunningly high," says Van Eck chief municipal strategist Jim Colby, after Chicago priced $1.1B in both taxable and tax-free bonds. The taxable issue maturing in 2042 priced to yield 7.98%, and the tax-free paper maturing in 2039 priced to yield 5.69% - a taxable equivalent yield of 9% (for the highest bracket).
- The debt has been rated BBB+ by Fitch.
- "Chicago is not Detroit," says Colby, who calls this new debt "far and away" the best value of similar credit quality in municipals. He notes the 30-day yield of his Market Vectors High Yield Municipal Index ETF (NYSEARCA:HYD) is just 4.61%.
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Mon, Jul. 6, 10:40 AM
Mon, Jun. 29, 5:07 PM| Mon, Jun. 29, 5:07 PM | Comment!
Tue, May 5, 3:08 PM
- Bloomberg reports Microsoft (MSFT -1.2%) is "evaluating a bid" for Salesforce (CRM +4.8%) after Salesforce was approached by another potential suitor. Salesforce is reportedly working with two banks to determine a response.
- Bloomberg cautions Microsoft isn't currently in talks with the cloud CRM software giant, whose market cap stands at $49B. There was plenty of speculation Microsoft was the company that (per Bloomberg) recently approached Salesforce. SAP has denied being interested, and Oracle has suggested it isn't. A source says Microsoft has "long expected it might compete for Salesforce if it was for sale."
- Salesforce has jumped on the report. If Microsoft pursues a bid, activist ValueAct Capital (has a board seat) might raise objections.
- The report comes as Microsoft announces a partnership with cloud ERP/HR/e-commerce software vendor NetSuite (N +3%) to integrate NetSuite's apps with Office 365 apps and Azure services, and to make Azure NetSuite's "preferred cloud infrastructure platform." Microsoft struck an Office 365-focused partnership with Salesforce last year. NetSuite has received a lift from Bloomberg's report.
Wed, Apr. 29, 3:02 PM
- After following markets lower most of today, enterprise cloud software vendors have jumped thanks to a Bloomberg report stating cloud CRM software giant Salesforce ($51B market cap) has been approached by a potential buyer, and is working with bankers to field offers.
- Gainers include Workday (WDAY +6%), ServiceNow (NOW +4.3%), NetSuite (N +4.3%), Marketo (MKTO +2.7%), Zendesk (ZEN +1.2%), Cornerstone OnDemand (CSOD +1.6%), Castlight (CSLT +2.4%), and Jive Software (JIVE +1.5%).
- Though the cloud software market has seen plenty of M&A activity, a Salesforce deal would easily be its largest. Workday ($17.5B market cap) is the second-largest enterprise cloud pure-play. ServiceNow ($11.6B) is #3.
Fri, Apr. 24, 6:47 PM
- Though NetSuite (NYSE:N) beat Q1 estimates, it guided on its Q1 CC (transcript) for Q2 revenue of $170M-$172M and EPS of $0.03-$0.04, below a consensus of $172.1M and $0.06. A strong dollar is blamed (26% of Q1 revenue was international).
- Not counting the impact of the Bronto Software acquisition (announced yesterday morning, expected to close in early June), full-year revenue and EPS guidance of $715M-$725M and $0.32 is maintained. Counting Bronto, guidance is now at $730M-$743M and $0.23. Bronto is expected to contribute $40M-$45M to 2016 revenue.
- Calculated billings rose 28% Y/Y in Q1 to $174M, topping revenue of $164.8M. However, growth slowed from Q4's 34%, and was below revenue growth of 34%. NetSuite thinks forex had a 5% impact on billings growth, up from Q4's 2%.
- The deferred revenue balance rose 3% Q/Q and 36% Y/Y to $323.4M. GAAP operating expenses rose 29% Y/Y to $131.4M. A record number of $250K+ deals were struck.
- NetSuite also guided light in January.
- Q1 results, PR
Thu, Apr. 23, 4:21 PM
Thu, Apr. 23, 9:28 AM
- Bronto Software provides a cloud marketing automation software platform used by over 1,400 brands, including Armani and Timex. NetSuite (NYSE:N) is buying the company for $200M in cash and stock.
- NetSuite "declares Bronto to be the number one email marketing provider to retailers ranked on the Internet Retailer Top 1000," and argues its offerings complement NetSuite's SuiteCommerce e-commerce infrastructure software platform (used by over 3K brands).
- CEO Zach Nelson: "This combination, for the first time ever, ties a rich marketing automation system with a cloud-based omnichannel commerce platform ... Just as customers demand seamless cross-channel shopping experiences, they increasingly expect companies to communicate consistently through all of their digital experiences on site, at stores, in email or through social or mobile."
- The marketing automation space has already seen plenty of M&A - past deals include Salesforce's purchase of ExactTarget and Oracle's purchases of Responsys and Eloqua. Remaining independent players include publicly-traded Constant Contact, HubSpot, and Marketo.
- Last year, NetSuite bought Venda, provider of a cloud-based platform for handling online, mobile, and social e-commerce interactions.
Wed, Apr. 22, 5:35 PM
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Fri, Apr. 17, 1:46 PM
- Cloud IT service management software leader ServiceNow is down 14.5% after providing soft guidance (thanks in part to forex) to go with a Q1 beat. Many high-beta enterprise tech names are off sharply amid a 1.5% drop for the Nasdaq.
- In addition to Salesforce and Workday (previous), cloud software firms posting big losses include NetSuite (N -4.8%), Constant Contact (CTCT -3.3%), InContact (SAAS -3.9%), Paycom (PAYC -3.6%), Ultimate Software (ULTI -3.6%), and Textura (TXTR -3.7%). NetSuite reports on April 23, Ultimate Software on April 28, Constant Contact on April 30, and Paycom on May 6.
- Big data/analytics software plays have also been hit hard. Tableau (DATA -6.3%), Splunk (SPLK -5.2%), Hortonworks (HDP -6%), and Varonis (VRNS -4.3%) are all off sharply. Though its growth rates and multiples are similar to those of many analytics software firms, ServiceNow generally isn't seen as an analytics play. This morning, D.A. Davidson launched coverage on Tableau and Splunk at Buy, and Hortonworks at Neutral.
- Tableau, which surged yesterday following bullish Stifel and William Blair coverage launches, reports on May 7. Stifel praised Tableau's "superior product performance and simplified user experience," data discovery market lead, international growth potential (less than 25% of license revenue is from outside of North America), and ability to capitalize on "free demo downloads by front-line information workers evangelizing [Tableau's] product." William Blair stated its survey work "indicates that the perceived value of Tableau exceeds that of other self-service [business intelligence] vendors."
- Pac Crest hiked its Splunk target to $82 yesterday after attending a user conference. "[T]he economic value derived from expanding Splunk implementations ... into new areas like security intelligence, compliance and real-time capacity planning results in cost avoidance that can far overshadow the historical pricing objections to Splunk. This is a significant change in customer behavior and pricing perception ... It was clear that the appetite of existing Splunk users to find new use cases remains fierce..."
Thu, Mar. 12, 3:13 PM
- Major tech gainers are about even with major decliners on a day the Nasdaq is up 0.8% (thanks to a broader market rally) in spite of Intel's Q1 warning.
- Notable gainers include 3D printer maker Voxeljet (VJET +5.9%), cloud ERP/HR software provider NetSuite (N +3.7%), flash sales site Zulily (ZU +7.5%), stock photo marketplace Shutterstock (SSTK +6.5%), cloud telecom expense software vendor Tangoe (TNGO +5.6%), It services provider Virtusa (VRTU +4.7%), online video ad platform TubeMogul (TUBE +4%), and online ad campaign software provider Marin (MRIN +4.2%).
- Notable decliners include several Chinese firms. Specifically, search/portal/game provider Sohu (SOHU -5.3%), entertainment/IM/gaming platform YY (YY -4.2%), mobile game publisher Sky-mobi (MOBI -5.8%), and sports lottery site 500.com (WBAI -5.6%).
- Other big decliners include printer maker Lexmark (LXK -2.6%), chip packaging/testing provider ChipMOS (IMOS -4.7%), and smart grid/wind turbine component maker AMSC (AMSC -6.3%).
- Zulily is just a day removed from making fresh lows the wake of last month's Q4 miss and soft guidance. BMO provided an upbeat note on TubeMogul yesterday.
- YY has now more than given back the gains it saw last week following its Q4 beat. ChipMOS posts Q4 results after the close, and is two days removed from reporting its February sales rose 10.5% Y/Y, a slower pace than in recent months (thanks in part to the timing of the Chinese New Year). 500.com recently crashed due to license suspensions, but had bounced from its lows. Lexmark drop comes shortly after HP refreshed its printer lineup.
- Previously covered: Box, Rosetta Stone, CyberArk, Integrated Silicon, Universal Display, Spherix, Synchronoss, Ingram Micro
Tue, Feb. 17, 11:54 AM
Thu, Feb. 12, 2:22 PM
- A slew of enterprise IT names are outperforming after Cisco beat estimates and respectively reported 10%, 8%, and 7% Y/Y growth in enterprise, SMB, and public sector orders. The Nasdaq overall is up 1%.
- Cisco reported particularly strong figures for enterprise-focused business lines: Switching revenue rose 11%, wireless (Wi-Fi-dominated) 18%, collaboration 10%, and data center (UCS servers) 40%. Service provider demand (orders -1%) remained soft.
- Enterprise standouts include EMC (EMC +2.5%), VMware (VMW +2.3%), SAP (SAP +3.1%), Salesforce.com (CRM +3.8%), NetSuite (N +2.6%), Teradata (TDC +4.6%), Splunk (SPLK +2.5%), Varonis (VRNS +3.9%), Gigamon (GIMO +2.8%), and NetScout (NTCT +2.7%).
- EMC's gains comes in spite of rival NetApp's FQ3 miss and soft FQ4 guidance; share loss to EMC, which has been seeing healthy mid-range and scale-out NAS storage growth, could be partly to blame. VMware is adding to the Wednesday gains seen following a Bernstein upgrade.
- Earlier: Telecom/networking stocks rally thanks to Cisco
N vs. ETF Alternatives
NetSuite Incis engaged in providing cloud-based financials / Enterprise Resource Planning and omnichannel commerce software suites. It also offersfinancial management, CRM,Ecommerce, and HCMthat enable companies to manage its business operations.
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