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WDAY

Workday

$78.94

4.59 (6.17%)

, WMT

Wal-Mart

$68.48

0.25 (0.37%)

10:06
01/11/17
01/11
10:06
01/11/17
10:06

Workday jumps as William Blair reveals mega retailer deal

Shares of Workday (WDAY) are on the rise after William Blair analyst Justin Furby told investors that he learned from some of its partners that the company has recently signed a mega retailer, with over two million employees. While the analyst did not name the retailer, Walmart (WMT) may be the only public company to fit the description. MEGA RETAILER DEAL: In a research note to investors this morning, William Blair's Furby said he spoke with a few Workday partners this week and learned that the company recently signed a human resources deal with "one of the world's largest employers," with more than two million employees globally. The contract represents "by far" the largest company Workday has ever signed, more than five times larger than any of its existing HR customers, the analyst contended. Furthermore, Furby noted that the company competed against incumbent SAP (SAP) and said the retailer should pursue a phased deployment of Workday over the next three to four years. The analyst told investors that he believes a deal of this size could represent $30M or more of annual subscription revenue. Additionally, Furby pointed out that he learned of a 70,000-plus employee real estate firm and a 50,000-plus employee pharmaceutical firm that recently closed with Workday, as well as "several large enterprise opportunities" in its pipeline that could close in the coming weeks. He also picked up "relatively constructive commentary" on the emerging Student Information Systems market, though one partner flagged the public sector vertical as being "soft." New business trends sound "more encouraging" than management's tone on its third quarter earnings, the analyst noted, adding that Workday's stock remains one of his favorite ideas this year and over the longer term. Furby recommended using current levels as a long-term buying opportunity and reiterated an Outperform rating on the shares. EMPLOYER IN QUESTION: In the note to investors, Furby did not name the company with which Workday is said to have signed the contract, beyond calling it "one of the world's largest employers" and a "retailer employing over two million people globally." According to the latest "Fortune Global 500" list, Walmart was the world's largest employer, with about 2.3M employees, and was the only member of Fortune's list of private companies with over two million employees. PRICE ACTION: In morning trading, shares of Workday have gained almost 7% to $79.52.

WDAY

Workday

$78.94

4.59 (6.17%)

WMT

Wal-Mart

$68.48

0.25 (0.37%)

SAP

SAP

$88.19

-0.44 (-0.50%)

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WDAY Workday
$78.94

4.59 (6.17%)

01/10/17
WELS
01/10/17
INITIATION
WELS
Market Perform
Workday initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Philip Winslow started Workday with a Market Perform rating and $75-$80 price target range.
01/06/17
WEDB
01/06/17
NO CHANGE
WEDB
Wedbush more positive on 2017 software spending trends
Wedbush analyst Steve Koenig says his firm's 2017 IT Spending Survey should soothe fears that macro uncertainty caused by the U.S. presidential election will negatively impact IT budgets. The analyst thinks recent disappointments from Workday (WDAY), Oracle (ORCL), Red Hat (RHT), and other software vendors were more company-specific than the management teams were willing to admit. As a result of the survey, Koenig has a more positive view of 2017 software spending trends, and thinks beneficiaries will include well-positioned cybersecurity vendors and cloud vendors. He notes that Proofpoint (PFPT) is a Wedbush Best Idea and his top software pick for 2017 along with salesforce.com (CRM).
01/11/17
WBLR
01/11/17
NO CHANGE
WBLR
Outperform
Blair uncovers Workday deal with one of world's largest employers
William Blair analyst Justin Furby says he learned from Workday (WDAY) partners that the company recently signed a human resources deal with one of the world's largest employers. The contract, with a retailer employing over 2M people globally, represents the largest company Workday has ever signed "by far," Furby tells investors in a research note. The client is more than five times larger on a headcount basis than any of Workday's existing HR customers, the analyst adds. The company competed against incumbent SAP (SAP), and the retailer will pursue a phased deployment over the next three to four years, Furbry says. He believes a deal of this size could represent $30M or more of annual subscription revenue. Furby also learned of a 70,000-plus employee real estate firm and a 50,000-plus employee pharmaceutical firm that recently closed with Workday, as well as "several large enterprise opportunities" in pipeline that could close in the coming weeks. Workday shares remain one of the analyst's favorite ideas this year and over the longer term, and he recommends using current levels as a long-term buying opportunity. Furby has an Outperform rating on Workday, which is up 72c to $75.07 in pre-market trading.
12/07/16
NORL
12/07/16
DOWNGRADE
NORL
Market Perform
Workday downgraded to Market Perform from Outperform at Northland
WMT Wal-Mart
$68.48

0.25 (0.37%)

01/05/17
OPCO
01/05/17
NO CHANGE
OPCO
Traditional chains fighting back as Amazon remains leader, says Oppenheimer
Oppenheimer analyst Brian Nagel says that during the Holiday season his firm ordered one item from eight Hardlines/Broadlines retailers and performed an informal test to see how the shopping experience compared to Amazon (AMZN). While the analyst notes that the e-commerce giant remains the leader online, he says traditional chains are fighting back with sharper pricing and improvements to fulfillment and return capabilities. Among traditional chains, Bed Bath & Beyond (BBBY), Costco (COST), and Wal-Mart (WMT) performed best on pricing, while Best Buy (BBY) scored as the best in fulfillment, Nagel says.
11/23/16
UBSW
11/23/16
NO CHANGE
Target $100
UBSW
Buy
Dollar Tree price target raised to $100 from $90 at UBS
UBS analyst Michael Lasser raised his price target on Dollar Tree (DLTR) to $100 from $90 following Q3 results. The analyst said the company's results eased a number of fears and demonstrated it could hold its own against competitors such as Wal-Mart (WMT). Dollar Tree exhibited comp growth, and its merger with Family dollar is providing synergies within its guidance, said Lasser, who reiterated his Buy rating on the shares.
01/06/17
CLVD
01/06/17
NO CHANGE
CLVD
Wal-Mart Holiday sales slightly below channel expectations, says Cleveland
Cleveland Research said Wal-Mart Holiday sales appear slightly below channel expectations and lowered its comp estimate to the low end of guidance to up 1% from 1-1.5% prior, versus consensus of 1.4%.
12/13/16
KEYB
12/13/16
NO CHANGE
KEYB
Wal-Mart could be hurt by border adjustment legislation, says KeyBanc
KeyBanc believes that Wal-Mart could be hurt by border adjustment legislation being considered by House Republicans. According to the firm, "the border adjustment taxes an item that is imported from a foreign country and rebates it when it is exported outside of the country." Wal-Mart could be significantly hurt by such legislation because it has "more limited ability to pass along higher costs," KeyBanc stated. The firm keeps a $90 price target and an Overweight rating on Wal-Mart.
SAP SAP
$88.19

-0.44 (-0.50%)

01/10/17
WELS
01/10/17
INITIATION
WELS
Outperform
SAP initiated with an Outperform at Wells Fargo
Wells Fargo analyst Philip Winslow started SAP with an Outperform rating and EUR 100-EUR 110 price target range.
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.
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.

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Ford

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HBNC

Horizon Bancorp

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Campbell Soup

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Procter & Gamble

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0.475 (0.52%)

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BX

Blackstone

$32.30

0.04 (0.12%)

, BLK

BlackRock

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0.96 (0.22%)

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Blackstone

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IBM

IBM

$142.81

0.744 (0.52%)

MMM

3M

$207.94

0.76 (0.37%)

INTC

Intel

$36.00

-0.34 (-0.94%)

UAA

Under Armour

$18.26

0.0402 (0.22%)

UA

Under Armour

$16.77

0.105 (0.63%)

MRK

Merck

$62.87

0.37 (0.59%)

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UIS

Unisys

$8.23

0.225 (2.81%)

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12:55
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12:55
Conference/Events
Unisys to host webinar »

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AROW

Arrow Financial

$32.05

-0.55 (-1.69%)

12:53
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BX

Blackstone

$32.30

0.041 (0.13%)

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BlackRock

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0.95 (0.22%)

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Blackstone

$32.30

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BLK

BlackRock

$429.20

0.95 (0.22%)

IBM

IBM

$142.81

0.742 (0.52%)

MMM

3M

$208.11

0.93 (0.45%)

MRK

Merck

$62.90

0.4 (0.64%)

INTC

Intel

$36.00

-0.34 (-0.94%)

UA

Under Armour

$16.78

0.119 (0.71%)

UAA

Under Armour

$18.28

0.055 (0.30%)

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HRG

HRG Group

$15.89

0.1 (0.63%)

12:50
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Options
$4.9M call buyer in HRG Group »

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AERI

Aerie Pharmaceuticals

$52.40

1.8 (3.56%)

12:45
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BX

Blackstone

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BlackRock

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0.96 (0.22%)

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Periodicals
Strategic and Policy Forum members on verge of disbanding, NY Times reports »

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BX

Blackstone

$32.32

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BLK

BlackRock

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IBM

IBM

$142.61

0.54 (0.38%)

MMM

3M

$208.18

1 (0.48%)

INTC

Intel

$36.00

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UAA

Under Armour

$18.29

0.07 (0.38%)

UA

Under Armour

$16.79

0.13 (0.78%)

MRK

Merck

$62.84

0.34 (0.54%)

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AAPL

Apple

$162.42

0.8 (0.49%)

12:41
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Ireland says no change to Apple tax policy, Bloomberg reports »

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UNH

UnitedHealth

$193.33

-1.17 (-0.60%)

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MU

Micron

$29.68

0.44 (1.50%)

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20K Micron Sep 33 - 36 call spreads bought for 32c »

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MMM

3M

$208.13

0.95 (0.46%)

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AAPL

Apple

$161.60

1.75 (1.09%)

12:25
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Ireland shuns EU petition that it collect EUR 13B from Apple »

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MMM

3M

$208.12

0.94 (0.45%)

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AMZN

Amazon.com

$982.74

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Target

$56.21

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On The Fly: Top stock stories at midday »

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AMZN

Amazon.com

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Target

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LPLA

LPL Financial

$46.07

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URBN

Urban Outfitters

$16.82

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A

Agilent

$61.71

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NEFF

Neff

$24.58

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HEES

H&E Equipment

$21.09

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DORM

Dorman Products

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AAPL

Apple

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VIX

Volatility Index S&P 500 Options

12:20
08/16/17
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Options
Heavy trading in VIX calls on expiration Wednesday »

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STOR

Store Capital

$24.98

0.47 (1.92%)

, INVH

Invitation Homes

$23.11

0.17 (0.74%)

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Store Capital

$24.98

0.47 (1.92%)

INVH

Invitation Homes

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0.17 (0.74%)

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$NSD

NASDAQ Market Internals

12:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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