Descartes Systems price target raised to $47 from $43 at BMO Capital » 08:0905/2805/28/20
BMO Capital analyst…
BMO Capital analyst Thanos Moschopoulos raised the firm's price target on Descartes Systems to $47 from $43 and keeps a Market Perform rating on the shares after its Q1 results and to reflect the recent multiple expansion across the SaaS universe. The company can continue to successfully execute on its strategy of delivering consistent EBITDA growth even in the current climate, the analyst tells investors in a research note, though on a relative basis, he prefers other "software consolidators".
Descartes Systems price target raised to $50 from $45 at Canaccord » 07:3705/2805/28/20
Canaccord analyst David…
Canaccord analyst David Hynes raised the firm's price target on Descartes Systems to $50 from $45 and keeps a Buy rating on the shares. The analyst said the company remains a reliable engine of growth despite the uncertainty of the pandemic. He has lowered his multiple in the previous quarter but has restored it leading to his price increase.
Descartes Systems announces restructuring plan, 5% reduction of workforce » 16:1505/2705/27/20
In light of the economic…
In light of the economic uncertainty to some of Descartes' customers caused by COVID-19, Descartes is undertaking a restructuring plan to reduce its cost base. The plan will reduce Descartes' global workforce by approximately 5% while also providing for the closure of several office facilities where work from home arrangements have proven to be a viable option. The cost of the restructuring is expected to be approximately $2M. Restructuring activities are substantially advanced with activities anticipated to be completed over the next six months. Once completed, Descartes anticipates annualized cost savings of approximately $6M-$7M.
Descartes Systems reports Q1 EPS 13c, consensus 13c » 16:0505/2705/27/20
Reports Q1 revenue…
Reports Q1 revenue $83.7M, consensus $85.54M. "Customers depend on us to help them move goods and manage assets. This is even more important when complex supply chains meet rapid swings in global demand, regulation and restrictions," said Edward Ryan, Descartes' CEO. "We have some customers who are struggling to keep up with demand in their business, while others have seen sharp drops. Regardless of the market dynamics they face, our Global Logistics Network is proving essential to helping them connect and collaborate to better manage the lifecycle of shipments. Recognizing this, we've calibrated our business so we remain in a strong position to continue to deliver superior results for our customers and other stakeholders."
TD Securities to hold a virtual conference » 09:1405/2705/27/20
TU, TRI, SJR, RCI, QBCRF, CJREF, BCE
2020 Telecom & Media…
2020 Telecom & Media Virtual Conference will be held on May 27. Webcast Link
|Over a week ago|
Verizon reports creation of virtual lab to accelerate 5G application development » 12:0505/2005/20/20
Verizon announced what it…
Verizon announced what it called "several new 5G milestones," including the creation of a virtual lab to accelerate the development of new 5G solutions and applications for consumers, businesses and government agencies. Verizon also reported 5G Ultra Wideband availability in San Diego this month, noting it will be Verizon's 35th city to receive 5G mobility service. Verizon also announced the roll out of 5G uploads in all existing 5G Ultra Wideband cities and four new 5G technology partners who will help extend millimeter wave 5G coverage. Kyle Malady, chief technology officer for Verizon, said: "We're building our 5G Ultra Wideband network to develop and enable the 5G innovations that will support changing the behavior of consumers, businesses and entire industries."
T-Mobile price target raised to $126 from $104 at KeyBanc » 07:2605/2005/20/20
TMUS, T, VZ
KeyBanc analyst Brandon…
KeyBanc analyst Brandon Nispel raised the firm's price target on T-Mobile (TMUS) to $126 from $104, while keeping an Overweight rating on the shares given his conviction level in the company's ability to execute on its cost efficiencies. The analyst notes that AT&T (T), T-Mobile and Verizon (VZ) store transaction dollars are down (45%) year-over-year in the month of April in his Key First Look Data, a slight deceleration from (42%) in March. Nispel believes T-Mobile benefits the most from store closures as the company can accelerate merger synergies. Post-COVID-19, he expects wireless retail distribution to shift more rapidly to digital distribution and service, which the analyst thinks is half the cost of physical retail distribution.
Telus announces launch of Telus Online Security with partner NortonLifeLock » 13:3305/1905/19/20
Telus (TU) and…
Telus (TU) and NortonLifeLock (NLOK) announced the launch of Telus Online Security, which features Norton 360 Basic and Norton 360 with LifeLock Basic Plus to provide "key cyber safety, device security and online privacy services." Samir Kapuria, President of NortonLifeLock, said, "Unfortunately, there is no honor with identity thieves, as they are exploiting global events to trick consumers into giving away their personal and financial information across a myriad of scams, fake websites and malware. We are excited to work with TELUS on the mission to bring our cyber safety capabilities across security, identity restoration and privacy into the TELUS Online Security Plans enabling more people to better safeguard their devices and personal data, as well as provide full-service identity theft restoration help."
UBS to hold a virtual conference » 08:5005/1805/18/20
AMT, T, TMUS, VZ
Future of 5G Virtual…
Future of 5G Virtual Conference will be held on May 18.
Verizon welcomes 390 new employees following close of BlueJeans deal » 07:0505/1805/18/20
Verizon welcomes 390 new…
Verizon welcomes 390 new employees after officially closing the deal with BlueJeans Network, Inc. on May 15. Keeping businesses connected has always been a priority for Verizon. Adding BlueJeans to Verizon's Advanced Communications portfolio is critical now more than ever to keep businesses, from small organizations to some of the world's largest multinational brands, operating at the highest level. BlueJeans products complement Verizon's mobile-first business solutions, like One Talk, and will be deeply integrated into Verizon's current and future 5G product roadmap. BlueJeans enables cloud-based meetings and large, interactive events that are simple, scalable and secure. BlueJeans' founders and employees join Verizon as Verizon employees and will work together to lead the continued growth and innovation of the business.