All posts tagged ‘shares’
by Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily
Yes, it sure is nice to see stock prices flashing green. But despite the market’s historic two-day move, there are still reasons to worry about what happens to technology shares over the next several quarters.
There are several negative factors at work here. Start with currency: One of the more eye-opening aspects of Oracle’s (ORCL) well-received earnings report last night was the company’s comment that revenues in its fiscal third quarter ending October will see a serious drag from currency factors. Oracle expects a 10 percentage point swing on a year-over-year basis: Currency boosted revenue by 7 points in the year-ago quarter, but will cut revenue growth by 3 percentage points this year, assuming exchange rates stay about where they are now.
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by Eric Savitz, Blogger and Columnist, Barron's, Tech Trader Daily
Corel (CREL) shares are rallying today after the company reported solid results for its fiscal second quarter ended May 31.
For the quarter, the company posted revenue of $67.0 million and non-GAAP EPS of 36 cents; the Street had expected $66.85 million and 35 cents.
For Q3, the company sees revenue of $63 million to $65 million, with non-GAAP profits of 30-36 cents a share; the Street had been expecting $63 million and 32 cents. For the full year ending in November, the company sees revenue of $263 million to $275 million, with profits of $1.50 to $1.70; the Street consensus has been $269.1 million and $1.54.
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Posted at 1:55 PM PT
Sphere
Tagged: Apple, Barron's, Corel, EPS, Eric Savitz, Internet, Tech Trader Daily, Voices, frontpage, non-GAAP, rally, shares | permalink
by Jeff Segal, Reporter, BreakingViews.com
Everyone assumed Microsoft was the loser when it handed Facebook a $15 billion valuation. But reports that Facebook insiders are trying to dump shares at a huge discount to that may highlight the danger of high expectations at a very young age.
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by Eric Savitz, Blogger and Columnist, Barron's
Netflix (NFLX) shares are coming under pressure today following a skeptical note on the company from Needham analyst Charlie Wolf.
Wolf today picked up coverage of the company with an Under Perform rating; he writes that “the company’s current valuation incorporates unrealistic subscriber acquisition cost and churn rate assumptions.” He calculates fair value for the shares to be $22, well below the current level.
Wolf, a long-time Apple bull, seems to be making the anti-iTunes call here. “Netflix’s immediate challenge lies in building a profitable video digital distribution business,” he writes. “In contrast with the online DVD rental market, which the company has owned, Netflix will have to compete with several heavyweights in this market. Indeed, Apple has already carved out a first-mover advantage.”
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by Mike Masnick, Blogger, Techdirt
While not strictly a technology story, JP Morgan’s buyout of Bear Stearns on Sunday is worth looking at in the larger context of the tech industry. As you hopefully know by now, JP Morgan picked up Bear Stearns for $2 a share, a total of $236 million, which is (quite literally) pennies on the dollar for a firm that not so long ago was valued at $170 a share and on Friday alone had tumbled from about $55 a share to $30 a share.
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by Mark Glaser, Blogger, PBS's MediaShift
If you’re following the twists and turns of Microsoft’s hostile bid for Yahoo, you can’t escape one name that keeps popping up in the media: Eric Jackson. As an activist shareholder in Yahoo, he has become the voice of the opposition, calling on Yahoo to accept Microsoft’s takeover bid–or any reasonable bid. Last year, he was instrumental in raising a ruckus online over Yahoo’s poor stock performance, and helped get Yahoo CEO Terry Semel ousted.
But what’s amazing about Jackson is that unlike the big-name activist shareholders such as Carl Icahn and Daniel Loeb who have huge war chests to buy up stock, Jackson is a small fish. He only owns 96 shares of Yahoo stock. Where Jackson has innovated is in using the tools of social media to gather support from other shareholders and get the attention of the media to make his case for corporate change.
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by Eric Savitz, Blogger and Columnist, Barron's
So, according to a variety of newspaper accounts, Yahoo is going to flat out reject Microsoft’s $31-a-share takeover bid, and assert that the company is worth a lot more–as much as $40 a share. So what happens now?
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by Henry Blodget, Blogger, Silicon Alley Insider
Microsoft’s shareholders are unhappy about the Yahoo offer–and they’re expressing their displeasure by voting with their feet. As they do, they’re driving the price of Microsoft’s stock down, which, in turn, is driving the value of Microsoft’s Yahoo bid down. As explained here, it’s now only worth about $29.50 per share.
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by Eric Savitz, Blogger and Columnist, Barron's
NetSuite shares staged a spectacular first-day rally, finishing at $35.50, up $9.50 from the $26 IPO price, which was up from Tuesday $16-$19 price talk, which in turn was up from previous expectations that the deal would price at $13-$16. Wow. That gives the company a market cap of $2.1 billion.
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