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SAP

SAP

$87.22

-1.39 (-1.57%)

, ORCL

Oracle

$38.05

0.04 (0.11%)

16:43
10/12/16
10/12
16:43
10/12/16
16:43

Rimini Street to pursue appeal other aspects of Oracle v. Rimini Street judgment

Rimini Street, the global provider of independent enterprise software support services for SAP's (SAP) Business Suite, BusinessObjects and HANA Database software and Oracle Corporation's (ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail, Oracle Agile PLM and Oracle ATG Web Commerce software, issued the following statement on the Oracle v. Rimini Street litigation: "In January 2010, Oracle sued Rimini Street alleging, among other things, that Rimini had infringed Oracle's copyrights while engaging in software support for Oracle's PeopleSoft, JD Edwards, and Siebel products. Rimini Street changed its processes no later than July 2014 in response to Court rulings in the litigation. The trial started in September 2015, and the Jury rendered its verdict in October 2015 and awarded Oracle $50M for "innocent" copyright infringement and violation of certain computer access laws. Oracle had sought more than $250M in damages. The Court has now ruled on all post-trial motions and awarded Oracle approximately $74M in fees, costs, and interest, and ordered Rimini Street to refrain from conduct previously adjudicated as unlawful. Rimini Street will take responsibility for its past practices and pay a one-time fair market license fee of $35.6M awarded to Oracle for innocently infringing certain of its software copyrights. Rimini Street plans to pursue an appeal of the other aspects of the judgment, including the $88M balance of the total $124M awarded to Oracle, as well as the injunction. Rimini Street believes it has strong bases for its appeal, which is likely to continue for several more years before a final outcome." Rimini Street added that is planning an IPO in 2017, subject to market conditions and board approval.

SAP

SAP

$87.22

-1.39 (-1.57%)

ORCL

Oracle

$38.05

0.04 (0.11%)

  • 14

    Nov

SAP SAP
$87.22

-1.39 (-1.57%)

06/13/16
JEFF
06/13/16
DOWNGRADE
JEFF
Underperform
SAP downgraded to Underperform on growth pressures at Jefferies
Jefferies analyst Milan Radia downgraded SAP to Underperform saying the company's "journey from licence centricity to subscription will remain prone to shorter-term growth rate inconsistencies." The analyst sees softer mid-term maintenance revenue growth and he lowered his price target for SAP shares to EUR 63.50 from EUR 73.
06/13/16
06/13/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. SAP (SAP) downgraded to Underperform from Hold at Jefferies with analyst Milan Radia saying the company's "journey from licence centricity to subscription will remain prone to shorter-term growth rate inconsistencies." 2. Vodafone (VOD) downgraded to Neutral from Outperform at Macquarie with the firm saying the company faces structural challenges and either needs to pursue Mergers & Acquisitions or continually spend more on networks given competition from incumbents and challengers. 3. Waste Connections (WCN) downgraded to Hold from Buy at TD Securities with analyst Damir Gunja citing valuation and maintained a $78 price target on the stock. 4. Atwood Oceanics (ATW) downgraded to Hold from Buy at Johnson Rice with the firm saying recent liquidity catalysts are now largely reflective in shares, while out year contract coverage concerns remain and multiples currently stand at a solid premium to peer averages on our out-year forecast. 5. Baidu (BIDU) downgraded to Neutral from Buy at Citi with analyst Alicia Yap citing concerns about near-term revenue. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/24/16
COWN
06/24/16
INITIATION
Target $93
COWN
Outperform
SAP initiated with an Outperform at Cowen
Cowen analyst J Wood initiated SAP with an Outperform and price target of $93.
07/28/16
RAJA
07/28/16
NO CHANGE
Target $45
RAJA
Outperform
Acquisition of NetSuite helps Oracle boost cloud scale, says Raymond James
Raymond James analyst Michael Turits views Oracle's (ORCL) acquisition of NetSuite (N) as positive, saying it helps the former increase its cloud scale and scope at a reasonable valuation. The analyst believes that with this deal Oracle solidifies its lead in SaaS ERP relative to SAP (SAP), Workday (WDAY), and Microsoft (MSFT). Additionally, Turits points out that while he would have been positive on a more aggressive acquisition of salesforce.com (CRM) by Oracle, he believes this deal makes that "even less likely." He reiterates a $45 price target on Oracle's shares.
ORCL Oracle
$38.05

0.04 (0.11%)

09/16/16
RHCO
09/16/16
NO CHANGE
RHCO
Oracle reported 'strong cloud results,' says SunTrust
SunTrust analyst John Rizzuto says that Oracle reported "strong cloud results." The analyst thinks that the company's cloud business is gaining "market and mind share." He predicts that the company's combined cloud and on-premises software revenue will rise 5% in fiscal 2017, up from a 2% decline in fiscal 2016. He keeps a $48 price target and Buy rating on the stock.
09/16/16
ADAM
09/16/16
NO CHANGE
Target $45
ADAM
Buy
Oracle shares cheap, cloud results positive, says Canaccord
Canaccord analyst Richard Davis said Oracle reported solid organic growth for its cloud business, including software licenses and cloud SaaS and PaaS. The analyst believes continued cloud success will weigh on margins and the decline in Hardware revenues will weigh on the overall businesses. However, Davis said Oracle shares remain sufficiently inexpensive to maintain as a Buy with a $45 price target.
09/16/16
BERN
09/16/16
NO CHANGE
BERN
Oracle miss due to 'transitory issues,' says Bernstein
After Oracle reported weaker than expected Q1 results, Bernstein analyst Mark Moerdler blames the miss on "transitory" factors, including foreign exchange headwinds and increased borrowing costs, as well as weakness in businesses on which the company is "less concerned with." The analyst says that the company's cloud business exceeded expectations, and he notes that its overall software revenue increased last quarter. He keeps an Outperform rating on the shares.
09/23/16
STFL
09/23/16
NO CHANGE
STFL
Oracle removed from Select List at Stifel
After attending Oracle's Analyst Day, Stifel analyst Brad Reback says that the company's infrastructure as a service portfolio "is still quite nascent." The analyst thinks that the company will have to significantly raise its overall capex in order to catch up with the leaders in the space. The analyst trimmed his price target on the stock to $45 from $48 and removed the stock from his Select List. However, he keeps a Buy rating on the shares.

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DLHC

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CM

CIBC

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0.44 (0.49%)

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CIBC reports Q1 adjusted EPS C$2.89, consensus C$1.96 »

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GMRE

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TFX

Teleflex

$184.01

-0.51 (-0.28%)

06:25
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Hot Stocks
Teleflex CEO Benson Smith retiring at end of 2017, succeeded by COO Liam Kelly »

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MBLY

Mobileye

$47.42

1.3 (2.82%)

06:22
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CRI

Carter's

$83.58

-0.4 (-0.48%)

06:20
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Carter's raises quarterly dividend 12% to 37c per share »

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CRI

Carter's

$83.58

-0.4 (-0.48%)

06:19
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Earnings
Carter's sees FY17 adjusted EPS growth 8%-10%, consensus $5.52 »

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  • 23

    Feb

CRI

Carter's

$83.58

-0.4 (-0.48%)

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Carter's sees Q1 adjusted EPS 80c-85c, consensus $1.14 »

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    Feb

NVCR

Novocure

$7.15

-0.15 (-2.05%)

06:17
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Novocure Chief Commercial Officer Peter Melnyk departing »

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CS

Credit Suisse

$15.35

-0.13 (-0.84%)

06:17
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Credit Suisse allocates $600M to expand Saudi Arabia business, Bloomberg says »

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  • 06

    Mar

OUT

OUTFRONT Media

$26.89

-0.44 (-1.61%)

06:16
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Downgrade
OUTFRONT Media rating change  »

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  • 27

    Feb

CRI

Carter's

$83.58

-0.4 (-0.48%)

06:16
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Breaking Hot Stocks news story on Carter's »

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  • 23

    Feb

EFOI

Energy Focus

$3.71

-0.21 (-5.36%)

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Energy Focus sees Q1 restructuring charges of $1.1M »

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CRI

Carter's

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CMVT

Comverse

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EFOI

Energy Focus

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-0.21 (-5.36%)

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  • 23

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BAYRY

Bayer

$113.85

-1.15 (-1.00%)

, MON

Monsanto

$111.38

0.81 (0.73%)

06:13
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Periodicals
Bayer looks to raise $19B in equity to fund proposed Monsanto deal, WSJ reports »

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MON

Monsanto

$111.38

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IRM

Iron Mountain

$37.14

-0.57 (-1.51%)

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TSLA

Tesla

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IRM

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CRI

Carter's

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