Today Oracle announced what it described as its 4th and last extension for its offer to purchase NetSuite at $110.share. So far, the press release indicated that tenders had only been received for 25% of the required shares several months after the offer was made and management for both companies encouraged the transaction. Obviously the…
Parametric shares broke through valuations not seen since the tech stock bubble at the turn of the century. The shares are now up by 32% year to date, significantly beyond the 11% share price appreciation seen by IGV. Overall, bookings exceeded the company’s forecast by about $25 million or 22%. The press released called out…
Teradata, a company in our growth portfolio was downgraded today by analyst Brent Thill of UBS. The premise of his downgrade is a bit difficult to follow but essentially the analysis comes from the fact that TDC has outperformed the IGV thus far this year but that the company faces a rocky transition to cloud…
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It was reported today that Cognizant Technology (CTSH) has announced that it’s conducting an internal investigation into whether payments with regards to facilities in India may have violated the U.S Foreign Corrupt Practices Act. The investigation is being overseen by the company’s audit committee as well as outside counsel. Most tellingly, Gordon Coburn, the President…
CRM will be holding its annual customer/analyst event during the course of the next week. Dreamforce as the event is known will be held in San Francisco between Tuesday and Friday of next week. Most of the time these events are mostly for customers and are bereft of any market moving news. There are some…
Acacia has been one of the high flying tech IPO’s so far in 2016. The shares had an IPO price of $23, first traded at $30/share and are now selling for $more than $107 after making a high of $123/share earlier this month. The company only sold 4.5 million shares in its IPO and lots…
The wires today were full of speculation regarding the potential purchase of Twitter. The two most widely mentioned names as potential acquisitors were Google (GOOG) and Salesforce (CRM). There are many to reasons to think that Twitter could be a company that might elicit bids. The newest “hot” bit of functionality relates to its initiative…
After a more mixed quarter reported in June, RHT reported a clean beat with the company narrowly beating on EPS by $.02 and on revenue by $7 mil. (1.2%). Operating margins some growth year on year which has been a principle concern among analysts. The company is forecasting EPS for this current quarter to be…
Adobe reported the results for its fiscal Q3/2016 earlier this evening. The results topped expectations on earnings and on EPS. The company issued upside guidance and the shares responded with an afterhours gain of 5%. The upside afterhours carried the shares to a 13% gain for the year which is just a bit better than…