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ORCL

Oracle

$48.28

-0.17 (-0.35%)

, IBM

IBM

$146.33

-0.55 (-0.37%)

06:41
06/14/18
06/14
06:41
06/14/18
06:41

JPMorgan downgrades Oracle after CIO survey shows spending contraction

JPMorgan analyst Mark Murphy downgraded Oracle (ORCL) to Neutral from Overweight and lowered his price target for the shares to $53 from $55. The stock closed yesterday down 18c to $48.27. The shares have risen from the $30s into the high $40s over the last two years, but the company's fundamental performance has remained inconsistent, Murphy tells investors in a research note. Further, the analyst notes that in his firm's recent survey of 154 chief investment officers, Oracle received the largest number of indications for planned spending contraction this year, materially more than the second-worst company. The CIOs indicate contraction in Oracle spending this year, placing the company alongside IBM (IBM), Checkpoint (CHKP), and CA (CA), Murphy contends. He notes the results of his firm's CIO surveys over the years "have been highly predictive."

ORCL

Oracle

$48.28

-0.17 (-0.35%)

IBM

IBM

$146.33

-0.55 (-0.37%)

CHKP

Check Point

$100.07

-0.83 (-0.82%)

CA

CA Technologies

$37.05

0.2 (0.54%)

  • 14

    Jun

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    Jun

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    Jul

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    Jul

ORCL Oracle
$48.28

-0.17 (-0.35%)

06/14/18
JPMS
06/14/18
DOWNGRADE
Target $53
JPMS
Neutral
Oracle downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Mark Murphy downgraded Oracle to Neutral and lowered his price target for the shares to $53 from $55.
05/01/18
BERN
05/01/18
NO CHANGE
BERN
Amazon Aurora more expensive than oracle for enterprise workloads, says Bernstein
Bernstein analyst Mark Moerdler notes that there has been a generally held belief that Amazon (AMZN) Aurora was positioned to take customers and share from Oracle (ORCL) but that is "simply not true." Excluding the significant feature/functionality limitations of Aurora for the enterprise workloads that are core to the Oracle database business, Amazon has priced Aurora for small departmental workloads used possibly 8 hours a day/5 days a week, he contends. As the database workload grows in size and the data is accessed more frequently Aurora becomes less and less competitive, the analyst adds. Moerdler believes this debunks one major threat. For Amazon, he does not see this as a problem since there is a very large opportunity for departmental databases.
04/26/18
DADA
04/26/18
INITIATION
Target $72
DADA
Buy
Pegasystems initiated with a Buy at DA Davidson
DA Davidson analyst Rishi Jaluria initiated Pegasystems (PEGA) with a Buy rating and a price target of $72, citing the company's market leading position in the business process management and case management markets amid the crowing presence of customer relationship management technologies. Jaluria says the company continues to take market share from legacy vendors like IBM (IBM) and Oracle (ORCL) and increasing its competitive position in CRM, while driving opportunities for margin expansion.
04/11/18
MONN
04/11/18
INITIATION
MONN
Neutral
Oracle initiated with a Neutral at Monness Crespi
Monness Crespi initiated Oracle with a Neutral rating.
IBM IBM
$146.33

-0.55 (-0.37%)

04/18/18
LEHM
04/18/18
NO CHANGE
Target $188
LEHM
Overweight
IBM shares to be under pressure in near term, says Barclays
Barclays analyst Mark Moskowitz expects shares of IBM to be under pressure in the near term following last night's Q1 results. The analyst lowered his price target for the stock to $188 from $192 but keeps an Overweight rating on the name. The lack of revenue growth "may not be a backbreaker," but IBM's "perplexing declaration" that gross margin "stabilization" has arrived despite Q1's 30 basis point year-over-year will likely frustrate investors, Moskowitz tells investors in a post-earnings research note. He thinks investors regard stabilization as meaning gross margin is heading higher and not just exhibiting moderating year-over-year declines.
04/18/18
STFL
04/18/18
NO CHANGE
Target $182
STFL
Buy
IBM fundamentals may be more stable than they seem, says Stifel
Stifel analyst David Grossman blames IBM's pretax margins coming in below estimates, as well as the run-up in the stock ahead of earnings, for the afterhours pullback in the stock. While he finds it "a bit hypocritical to reward companies that pro forma out restructuring actions" and penalize IBM for leaving them in, he believes that should normalize over time if the company executes. Grossman, who still likes IBM as a defensive name with catalysts, sees support at a 4% dividend yield, or about $150 per share, which he said "is where large cap legacy tech typically bottoms." He maintains a Buy rating and $182 price target on the shares.
05/31/18
MSCO
05/31/18
NO CHANGE
Target $198
MSCO
Overweight
Morgan Stanley says report on 'mass layoffs' in IBM's Watson Health 'misleading'
Morgan Stanley analyst Katy Huberty said a report from The Register blog that implies "mass layoffs" in IBM's Watson Health unit are "misleading," stating that any such layoffs come after IBM reported $613M in restructuring with its April 17 earnings call and detailed about $100M of that was related to the Cognitive business division. The timing of the March restructuring charge aligns with fully integrating businesses such as Truven Health Analytics and Merge Healthcare into Watson Health, she added. As recently as its March investor day, IBM discussed aggressive hiring in strategic areas like oncology within Watson Health, suggesting any layoffs are gross reductions though its net headcount in Watson Health is likely still expanding, added Huberty, who has an Overweight rating and $198 price target on IBM shares.
CHKP Check Point
$100.07

-0.83 (-0.82%)

04/25/18
JEFF
04/25/18
NO CHANGE
Target $117
JEFF
Buy
Check Point price target lowered to $117 from $124 at Jefferies
Jefferies analyst John DiFucci lowered his price target on Check Point to $117 after its Q1 earnings, saying that while the company reported results within the revenue and profit guidance, its billings, subscriptions, and outlook were all below expectations. DiFucci keeps his Buy rating however, noting that Check Point is still a well run company that can improve its results with the next product refresh while attributing the shortfall in Q1 to the product cycle. The analyst also points to the company's "substantial" cash position allowing for the possibility of M&A or shareholder returns.
04/26/18
BMOC
04/26/18
NO CHANGE
Target $108
BMOC
Market Perform
Check Point price target lowered to $108 from $115 at BMO Capital
BMO Capital analyst Keith Bachman lowered his price target on Check Point to $108, saying the company's latest quarter "exacerbated concerns about decelerating subscription growth". Bachman keeps his Market Perform rating, adding that it will be "difficult" for the company to realize multiple expansion as subscription revenue decelerates while calling for more evidence of improvement in sales productivity before considering a more constructive stance.
05/09/18
ARGS
05/09/18
DOWNGRADE
ARGS
Hold
Check Point downgraded to Hold from Buy at Argus
05/09/18
ARGS
05/09/18
DOWNGRADE
ARGS
Hold
Check Point downgraded to Hold at Argus on persisting sales execution issues
As noted earlier, Argus analyst Joseph Bonner downgraded Check Point Software Technologies to Hold from Buy after the company lowered its FY18 guidance last month, saying its recent sales execution issues "appear likely to persist over the remainder of the year". The analyst also notes that the company's transition to subscription-based revenue model has shifted more of its reported sales to "deferred revenue". Bonner reduces his FY18 EPS view to $5.66 from $5.83 and lowers FY19 EPS target to $6.31 from $6.54, but adds that he continues to hold a favorable view of the company's underlying security software technology, with focus on "advanced threat protection and mobile services".
CA CA Technologies
$37.05

0.2 (0.54%)

05/30/18
JPMS
05/30/18
NO CHANGE
JPMS
Neutral
CA visibility reduced due to ASC 606, says JPMorgan
JPMorgan analyst Sterling Auty says a key point from CA Technologies' analyst day presentation slides are the impacts of Accounting Standards Codification 606. CA's revenue recognition will see significant moving parts from the adoption of ASC 606, as a considerable portion of revenue will now be recognized upfront, Auty tells investors in a research note. He believes this "reduces visibility and increases volatility." On the positive side, the analyst likes CA's share repurchase program and expectation for 24% growth in the SaaS business through 2021. He has a Neutral rating on CA shares.
09/18/17
KEYB
09/18/17
INITIATION
KEYB
Sector Weight
CA Technologies resumed with a Sector Weight at KeyBanc
KeyBanc analyst Alex Kurtz resumed coverage of CA Technologies with a Sector Weight rating. The current valuation is near the high end of the historical range while declines in the legacy solutions business will likely remain a drag, the analyst contends.
10/06/17
NOMU
10/06/17
NO CHANGE
Target $275
NOMU
Buy
Nomura Instinet lays out potential takeover targets for Broadcom
With revenues this year on track to reach $17B, few opportunities in the semiconductor space exist that would move the needle for Broadcom Limited (AVGO), Nomura Instinet analyst Romit Shah tells investors in a research note. As a result, the analyst believes the company could be looking to acquire companies in peripheral spaces. Shah's analysis yields CA Technologies (CA), NetApp (NTAP), Juniper (JNPR), Garmin (GRMN), Trimble (TRMB), Akamai (AKAM), F5 Networks (FFIV), Ciena (CIEN) and EchoStar (SATS) as possible takeover targets. The analyst thinks Broadcom shares may continue to "languish" in the near term given uncertainty with the Brocade acquisition and iPhone supply constraints. Shah, however, remains optimistic in Broadcom's ability to generate $20-plus in earnings per share in the future. He keeps a Buy rating on the shares with a $275 price target.
06/28/17
BERN
06/28/17
NO CHANGE
BERN
Potential CA Technologies deal could face regulatory hurdle, says Bernstein
Bernstein analyst Mark L. Moerdler says that a potential acquisition of CA (CA) by BMC could be delayed and possibly blocked because the two companies are the largest and third largest IT Operations Management Mainframe Tools vendors, with a combined 52% of the market. The analyst says that a regulatory review of the transaction could cause "continuing disruption" of CA's business. He keeps a $28 price target and an Undeprerform rating on the stock.

TODAY'S FREE FLY STORIES

ENIA

Enel Americas

$9.25

-0.08 (-0.86%)

19:01
06/17/18
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19:01
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UL

Unilever; also tag UN

$54.26

0.64 (1.19%)

, UN

Unilever; also tag UL

$54.74

0.7 (1.30%)

18:55
06/17/18
06/17
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18:55
Periodicals
Unilever taking stand against digital media's fake followers, Reuters says »

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UL

Unilever; also tag UN

$54.26

0.64 (1.19%)

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$54.74

0.7 (1.30%)

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TWX

Time Warner

$98.91

(0.00%)

, CMCSA

Comcast

$33.85

0.03 (0.09%)

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Box Office Battle: 'Incredibles 2' breaks record with $180M »

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Time Warner

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CMCSA

Comcast

$33.85

0.03 (0.09%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$49.11

-0.02 (-0.04%)

FOX

21st Century Fox

$44.57

0.14 (0.32%)

FOXA

21st Century Fox

$44.60

0.03 (0.07%)

LGF.A

Lionsgate

$26.57

1.52 (6.07%)

DIS

Disney

$108.91

0.15 (0.14%)

VIAB

Viacom

$29.40

0.49 (1.69%)

VIA

Viacom

$33.95

0.15 (0.44%)

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OAS

Oasis Petroleum

$12.01

-0.63 (-4.98%)

, OMP

Oasis Midstream Partners

$17.29

-1.02 (-5.57%)

16:46
06/17/18
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16:46
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16:46
Conference/Events
JPMorgan to hold a conference »

3rd Annual Energy Equity…

OAS

Oasis Petroleum

$12.01

-0.63 (-4.98%)

OMP

Oasis Midstream Partners

$17.29

-1.02 (-5.57%)

SRCE

1st Source

$55.36

0.13 (0.24%)

LGCY

Legacy Reserves

$6.07

-0.03 (-0.49%)

EVA

Enviva

$29.35

0.15 (0.51%)

CRC

California Resources

$35.03

-2.57 (-6.84%)

INSM

Insmed

$26.74

-1.5 (-5.31%)

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16:43
06/17/18
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16:43
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Leerink to hold a tour »

Ribs N' Bones Bus…

16:40
06/17/18
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16:40
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16:40
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Citigroup to hold a conference »

2018 European Healthcare…

GM

General Motors

$43.91

0.32 (0.73%)

, FCAU

Fiat Chrysler

$20.86

-0.37 (-1.74%)

16:38
06/17/18
06/17
16:38
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16:38
Periodicals
Automakers putting smaller engines into big trucks, WSJ reportsFord »

U.S. auto makers are…

GM

General Motors

$43.91

0.32 (0.73%)

FCAU

Fiat Chrysler

$20.86

-0.37 (-1.74%)

F

Ford

$11.88

-0.01 (-0.08%)

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MSFT

Microsoft

$100.24

-1.14 (-1.12%)

, GOOGL

Alphabet Class A

$1,159.03

-1.08 (-0.09%)

16:34
06/17/18
06/17
16:34
06/17/18
16:34
Periodicals
Microsoft is fixing office, WSJ reports »

The new version of…

MSFT

Microsoft

$100.24

-1.14 (-1.12%)

GOOGL

Alphabet Class A

$1,159.03

-1.08 (-0.09%)

GOOG

Alphabet

$1,151.95

-0.05 (-0.00%)

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16:34
06/17/18
06/17
16:34
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16:34
Conference/Events
Deutsche Bank to hold a conference »

Taiwan Auto Electronics…

WFC

Wells Fargo

$54.99

0.23 (0.42%)

, MS

Morgan Stanley

$51.17

-0.12 (-0.23%)

16:33
06/17/18
06/17
16:33
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16:33
Conference/Events
Federal Reserve Bank of New York to hold a conference »

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WFC

Wells Fargo

$54.99

0.23 (0.42%)

MS

Morgan Stanley

$51.17

-0.12 (-0.23%)

BAC

Bank of America

$29.27

-0.24 (-0.81%)

C

Citi

$66.34

0.18 (0.27%)

WBK

Westpac Banking

$20.67

0.125 (0.61%)

GS

Goldman Sachs

$232.00

-1.695 (-0.73%)

BCS

Barclays

$10.59

-0.225 (-2.08%)

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F

Ford

$11.88

-0.01 (-0.08%)

16:25
06/17/18
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Ford acquires Michigan Central Station »

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BMY

Bristol-Myers

$54.81

1.165 (2.17%)

16:22
06/17/18
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Bristol-Myers' ELOQUENT-3 trial meets primary endpoint »

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PTCT

PTC Therapeutics

$37.57

-0.75 (-1.96%)

, RHHBY

Roche

$0.00

(0.00%)

16:18
06/17/18
06/17
16:18
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16:18
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PTC Therapeutics presents updated preliminary data from SMA FIREFISH Program »

PTC Therapeutics (PTCT)…

PTCT

PTC Therapeutics

$37.57

-0.75 (-1.96%)

RHHBY

Roche

$0.00

(0.00%)

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CYTK

Cytokinetics

$9.95

0.5 (5.29%)

16:15
06/17/18
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Cytokinetics announces data from Phase 2 clinical study of Reldesemtiv in SMA »

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PERY

Perry Ellis

$27.92

0.31 (1.12%)

16:12
06/17/18
06/17
16:12
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Perry Ellis enters into $437M transaction to become private company »

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VSTM

Verastem

$6.53

0.95 (17.03%)

16:08
06/17/18
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16:08
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16:08
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Verastem presents duvelisib data at EHA 2018 annual meeting »

Verastem announced one…

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  • 05

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IQ

iQIYI

$40.16

-0.44 (-1.08%)

16:05
06/17/18
06/17
16:05
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16:05
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iQIYI obtains broadcasting rights for all four golf majors »

iQIYI announced it had…

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HD

Home Depot

$200.55

0.86 (0.43%)

15:56
06/17/18
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Conference/Events
Home Depot participates in a field trip with UBS »

Field Trip to Atlanta, GA…

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PAY

Verifone

$22.84

0.01 (0.04%)

15:28
06/17/18
06/17
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Conference/Events
Verifone to host special shareholder meeting »

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CACI

CACI

$167.60

1.1 (0.66%)

14:18
06/17/18
06/17
14:18
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14:18
Conference/Events
CACI to hold a webcast »

Management discusses…

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  • 21

    Jun

ARGX

Argenx

$92.38

-3.32 (-3.47%)

14:11
06/17/18
06/17
14:11
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14:11
Conference/Events
Argenx to hold a KOL breakfast symposium »

Management holds a Key…

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  • 20

    Jun

PTC

PTC

$94.87

-0.46 (-0.48%)

14:06
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06/17
14:06
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14:06
Conference/Events
PTC to host analyst day »

Analyst Day to be held in…

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13:41
06/17/18
06/17
13:41
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13:41
Conference/Events
Federal Reserve Bank of Atlanta president speaks at a meeting »

Atlanta Federal Reserve…

VRX

Valeant

$26.86

0.06 (0.22%)

13:31
06/17/18
06/17
13:31
06/17/18
13:31
Conference/Events
Breaking Conference/Events news story on Valeant »

FDA PDUFA Date for…

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  • 18

    Jun

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    Aug

WMGI

Wright Medical

$25.83

-0.26 (-1.00%)

13:27
06/17/18
06/17
13:27
06/17/18
13:27
Conference/Events
Wright Medical management to meet with Leerink »

Meeting to be held on…

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