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Fly News Breaks for May 24, 2019
ORCL, WDAY
May 24, 2019 | 07:39 EDT
JMP Securities analyst Patrick Walravens said his checks with Workday (WDAY) partners and other industry sources suggests that the tone of business is "really, really good," with his sources indicating that Workday has been succeeding in closing big deals, including a potentially "very large" deal for a new HRIS system for a U.S. state. Additionally, he was told that Workday is replacing Oracle's (ORCL) NetSuite at "a high-profile, $300+ million, pre-IPO technology company," Walravens noted. Following the checks, he slightly increased his Q1 EPS estimate and keeps an Outperform rating and $220 price target on Workday ahead of its Q1 report due on May 28.
News For WDAY;ORCL From the Last 2 Days
ORCL
Jun 19, 2019 | 16:05 EDT
"In Q4, our non-GAAP operating income grew 7% in constant currency-which drove EPS well above the high end of my guidance," said Oracle CEO, Safra Catz. "Our high-margin Fusion and NetSuite cloud applications businesses are growing rapidly, while we downsize our low-margin legacy hardware business. The net result of this shift away from commodity hardware to cloud applications was a Q4 non-GAAP operating margin of 47%, the highest we've seen in five years." "Our Fusion ERP and HCM cloud applications suite revenues grew 32% in FY19," said Oracle CEO, Mark Hurd. "Our NetSuite ERP cloud applications revenues also grew 32% this year. These strong results extend Oracle's already commanding lead in worldwide Cloud ERP. Our cloud applications businesses are growing faster than our competitors. That said, let me call your attention to the following approved statement from industry analyst IDC."
ORCL
Jun 19, 2019 | 16:03 EDT
Cloud Services and License Support revenues were $6.8B, while Cloud License and On-Premise License revenues were $2.5B. Total Cloud Services and License Support plus Cloud License and On-Premise License revenues were $9.3B, up 3% in USD and 6% in constant currency.
ORCL
Jun 19, 2019 | 13:25 EDT
Oracle (ORCL) is scheduled to report results of its fourth fiscal quarter after the market close on June 19, with a conference call scheduled for 5:00 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here
ORCL
Jun 19, 2019 | 12:35 EDT
Notable companies reporting after the market close, with earnings consensus, include Oracle (ORCL), consensus $1.07.
ORCL
Jun 18, 2019 | 11:36 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. ORACLE CUT TO... To see the rest of the story go to thefly.com. See Story Here
ORCL
Jun 18, 2019 | 10:16 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. InterContinental (IHG) downgraded to Underweight from Equal Weight at Barclays with analyst Vicki Stern stating downside risks from a macroeconomic slowdown are not reflected in the stock at current valuation levels. 2. Freshpet (FRPT) downgraded to Hold from Buy at SunTrust with analyst William Chappell saying his positive view of the company's fundamental story and outlook have not changed, but he cannot recommend for new investors to buy the stock at its current levels. 3. Regeneron (REGN) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg noting that while the company has a "strong pipeline" with new recent indications for multiple products, its primary revenue driver Eylea is facing several competitive threats. 4. Oracle (ORCL) downgraded to Neutral from Outperform at Macquarie with analyst Sarah Hindlian telling investors that her checks suggest that closing the fourth quarter "was a struggle," with partners saying they had to rush to discount orders up until the final days. 5. J.B. Hunt (JBHT) downgraded to Neutral from Buy at UBS with analyst Thomas Wadewitz citing his increasing conviction that after a period of strong freight and unusually strong pricing in 2018, the downturn in freight will persist through 2019 amid "falling truckload and intermodal contract rates" for 2020. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ORCL
Jun 18, 2019 | 09:40 EDT
Unusual total active option classes on open include: Planet Fitness (PLNT), SPDR S&P Metals and Mining (XME), Facebook (FB), IBM (IBM), Oracle (ORCL), United States Oil Fund (USO), Energy Sector SPDR ETF (XLE), US Steel (X), Direxion Daily Gold Miners Bull 3X Shares (NUGT), and Diamond ETF (DIA).
ORCL
Jun 18, 2019 | 08:16 EDT
As previously reported, Macquarie downgraded Oracle to Neutral from Outperform, with analyst Sarah Hindlian telling investors that her checks suggest that closing the fourth quarter "was a struggle," with partners saying they had to rush to discount orders up until the final days. Several leading partners saw softening of the pipeline and she believes "there is a step function lower" in demand for Oracle, the analyst said. While she sees several potential tailwinds for Oracle in FY20 - including less marketing spending, improving uptake of Cloud ERP, increased prices on support and adoption of 18c/autonomous DB - she also thinks outperformance will be capped because the company is struggling to execute on its strategy. Hindlian has a $55 price target on Oracle shares.