Tibco (TIBX): FQ4 EPS of $0.42 beats by $0.03. Revenue of $296.5M (+2% Y/Y) beats by $3M. Expects FQ1 revenue of $241M-$245M and EPS of $0.17-$0.18 vs. consensus of $240.7M and $0.21. 195 deals over $100K and 25 deals over $1M in FQ4, up from 134 over $100K and 16 over $1M in FQ3. Shares +6.1% AH. (PR)
Informatica (INFA +3.9%) adds to its recent rally after RBC starts coverage on the company, along with peers Teradata (TDC -0.6%) and Tibco (TIBX -0.2%), at Outperform. The firm notes M&A activity for big data plays is strong, but considers Informatica, Tibco, and Qlik (QLIK +1.7%) too richly priced to attract suitors. "Big Data has emerged as one of the most overused, overhyped and misunderstood terms in technology ... Regardless, it is hard to deny the exponential growth in data and, in turn, the opportunity for technology firms to benefit..."
BofA/Merrill has downgraded Tibco (TIBX -20.1%) to Neutral following its FQ4 warning, which has led shares to plunge to new 52-week lows. Piper sees the warning as another sign of "pervasively deteriorating conditions for on-premise software companies." The Street seems to agree a bit: QLIK -4.2%. INFA -5%. ORCL -1.8%. RHT -1.4%. CTXS -1.7%. Wedbush argues Tibco's long-term growth story is intact - Tibco noted in its warning demand for its Spotfire analytics platform remains strong.
Tibco (TIBX) -14.7% AH after warning it expects to report FQ4 (ended Nov. 30) revenue of $292M-$295M and EPS of $0.37-$0.38, below a consensus of $316M and $0.44. Tibco blames a mix of soft government spending, Sandy-related deal delays, and poor execution in its infrastructure (i.e. middleware) business, particularly in the Americas. The FQ4 report arrives on Dec. 20. It could be a rough day for enterprise software stocks tomorrow: QLIK -3.7%. PRGS -1.4%. RHT -2.3%. INFA -1.1%. CTXS -1%. ORCL -0.9%. SAP -0.8%.
The more details that emerge about the H-P/Autonomy debacle, the worse it looks for everyone. Reuters reports former H-P (HPQ) CEO Leo Apotheker was desperate to reach a deal with Autonomy after failing to do so with Comverse (CMVT), Amdocs (DOX), and Tibco (TIBX), and that H-P's bureaucracy and Autonomy's sales culture witnessed a huge culture clash. A Forrester analyst notes Autonomy has long failed to make needed R&D investments, and argues there hasn't been a major release of its flagship IDOL software in over 5 years.
A few more companies that appear to be casualties of H-P's FQ4 disaster (I, II): IT services firms Infosys (INFY -2.9%), Wipro (WIT -1.6%), and Sapient (SAPE -1.4%), hard drive vendors Seagate (STX -1.4%) and Western Digital (WDC -2.5%), and middleware vendor/H-P acquisition rumor subject Tibco (TIBX -3.4%). (previous)
More on Teradata's Q3: The company now expects 2012 EPS of $2.34-$2.44, and revenue growth of 12%-14%, below a consensus of $2.79 and 14.2%. Americas was soft, up just 2% Y/Y. EMEA +17%, Asia-Pac +14%. Deferred revenue balance -12% Q/Q to $382M. Three business intelligence software firms, whose products often work in tandem with Teradata's data warehousing systems, recently posted weak Q3 results. Fellow DW firm Informatica is also facing challenges. TDC -12.5%. (PR)
Qlik (QLIK -14.1%) has fallen to 2-year lows in the wake of its Q3 miss. Though Q4 revenue guidance of $125M-$130M is in-line with a $127.5M consensus, EPS guidance of $0.22-$0.24 is below a $0.29 consensus. During its earnings call, Qlik noted European sales (54% of revenue) were up 10% Y/Y, but added Americas revenue is being pressured by longer sales cycles. Big data peers are lower: TIBX -2.8%. TDC -2.1%. SPLK -3.2%. MSTR -2%. Informatica (INFA -0.9%) is also off, reversing yesterday's post-earnings gains (I, II).
It's been a rough week for enterprise IT stocks. Many sold off yesterday following EMC and Juniper's reports, and a number are pressured today thanks to disappointing results and/or guidance from F5, Fusion-io, ServiceNow, and Citrix. Cloud software, big data, and networking plays are among the losers: CRM -2.1%. WDAY -5%. N -2.2%. SPLK -4.1%. RVBD -4%. PANW -2.6%. ARUN -5.2%. NTGR -2.6%. TIBX -2.8%. QLIK -3.1%.
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$TIBX Looks Like Tibco Is Preparing Itself For Being Taken Over With Entry Into A Material Definitive Agreement http://stks.co/q0cIR $SAP
Aug 2, 1:15 AM
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TIBCO Software Inc. provides infrastructure and business intelligence software. Its software platform enables customers to create flexible, event-driven applications and deliver real-time, actionable insights.