92.45 +0.13 (0.14%)
After hours: 7:23PM EDT
|Bid||92.36 x 900|
|Ask||92.55 x 1000|
|Day's Range||92.12 - 95.54|
|52 Week Range||66.53 - 96.87|
|Beta (3Y Monthly)||1.10|
|PE Ratio (TTM)||34.47|
|Earnings Date||Dec 18, 2019 - Dec 23, 2019|
|Forward Dividend & Yield||0.88 (0.91%)|
|1y Target Est||102.38|
Nike announced its long-time CEO Mark Parker is stepping down and will be replaced by John Donahoe, the current head of cloud computing firm “Service-Now" and Nike board member. Yahoo FInance’s Akiko Fujita and Brian Cheung discuss on The Ticker.
(Bloomberg) -- ServiceNow Inc. incoming Chief Executive Officer Bill McDermott promised to transform the growing software maker into a “global juggernaut” as he works to convince investors he’s the right man for the job.“I wanted at this stage in my career a company that was in the early stage of its growth pattern and help them go to the next phase, to truly become one of the most admired software brands in the world,” McDermott, who stepped down earlier this month as CEO of German software giant SAP SE, said Wednesday in an interview. “The company is on a roll. I’m going to fortify that and continue that. The experience of what I know and I’ve seen will be incredibly helpful to ServiceNow. This company will be a global juggernaut.”ServiceNow has long promised to organize tedious parts of office life, like setting up a help desk for IT operations and bringing on board new employees. The company has expanded into new markets, such as human resources, to maintain an annual sales growth rate of at least 35%, which it has achieved since going public in 2012. McDermott’s appointment Tuesday concerned some investors and analysts who highlighted that he hasn’t led “growth companies,” having worked at Xerox and spent about a decade as the first American CEO of Walldorf, Germany-based SAP.McDermott dismissed the criticism, saying ServiceNow is glad to have a “street fighter” like him in its corner.“If someone says Bill McDermott is best known for running large, global, powerhouse companies and they say ‘Is he the right person to lead ServiceNow because it’s not as large,’ I would say, I was completely unaware of ServiceNow’s intention to stay small,” he said. “I’m a leader. I lead organizations and establish visions. At the same time, I’m conforming to ServiceNow’s culture. I think that’s why I am the perfect person.”McDermott added that continuity is important and he sees himself as similar to John Donahoe, ServiceNow’s current CEO, who is stepping down in January to run Nike Inc. McDermott also said he wants all of ServiceNow’s current executives to remain in place when he takes the top job.McDermott said he has interviewed a pool of candidates in the search for ServiceNow’s next chief financial officer and was looking for a candidate who could fit the company’s culture and boost its operating margins and profit. “I think we have found such a person,” he said. The software maker may announce a pick before Thanksgiving in late November, he said.The Santa Clara, California-based company projected subscription revenue that topped Wall Street estimates Wednesday. Sales from subscriptions will be $897 million to $902 million in the current period, ServiceNow said in a statement. Analysts on average expected subscription revenue of $897.7 million, according to data compiled by Bloomberg. That would represent 35% growth compared with a year earlier.The company also reported adjusted profit of 99 cents per share in the period that ended Sept. 30, above analyst estimates of 89 cents.The stock climbed about 4% in extended trading after closing at $220.01 in New York Wednesday. The shares have gained 24% this year.McDermott said that he would stick to ServiceNow’s goal of reaching $10 billion in annual revenue by an unspecified time.“Very simply, I completely buy in, stand behind it, and I’m looking forward to achieving it,” McDermott said on a conference call with analysts.While McDermott is known for his penchant for large acquisitions, such as SAP’s almost $8 billion purchase of Qualtrics International Inc., he said in an interview ServiceNow still had a lot of room for organic growth, which is his preference.“There is no need at this time for large scale M&A maneuvers,” he said.(Updates with comments from earnings call in the 11th paragraph.)To contact the reporter on this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Under Armour announced that Chief Operating Officer Patrik Frisk will succeed Kevin Plank as chief executive.
ServiceNow Inc. CEO John Donahoe is getting a warm welcome to the Nike Inc. C-suite, with analysts bullish that his appointment to succeed Mark Parker will keep digital development on the fast track. Nike (NKE) announced late Tuesday that Donohoe would assume the role, effective Jan. 13, 2020, adding to the list of chief executive switcheroos that have lately made headlines. “Nike is in the process of amplifying their digital capabilities and speed and Mr. Donahue will accelerate that trajectory,” wrote Cowen analysts led by John Kernan.
ServiceNow will likely make more acquisitions under new CEO Bill McDermott given his track record at software giant SAP, analysts say. ServiceNow stock fell on Wednesday amid a change in CEOs.
With one hour left in the day, a quick glance at the 10 worst stocks in the S&P 500 show a consistent theme—investors are scared of semiconductor stocks. They’re not terribly fond of garbage, either.
Nike stock has made a bullish move into buy zone, but is the Dow Jones athletic apparel giant a good buy right now? Here's what its earnings and chart say.
Key indexes slipped back into the red after giving up earlier gains, as Nike weighed on the Dow Jones Industrial Average but Apple hit a new high.
It began Monday when Adidas AG (ADR) (OTC: ADDYY) CMO Eric Liedtke announced he was stepping down. Liedtke was largely responsible for Adidas’ resurgence in North America and was presumably the company’s next pick for CEO. On Tuesday, more bombshells were dropped when Under Armour Inc (NYSE: UAA) CEO and Founder Kevin Plank announced he was resigning, followed by Nike Inc (NYSE: NKE) CEO Mark Parker resignation just a few hours later.
The sportswear company on Tuesday named John Donahoe its next CEO. Securities filings outline the compensation package awarded to Donahoe.
DOW UPDATE Shares of Nike and American Express are retreating Wednesday afternoon, though the Dow Jones Industrial Average remains relatively flat. Shares of Nike (NKE) and American Express (AXP) account for -14% of the blue-chip gauge's intraday losses, as the Dow (DJIA) was most recently trading 3 points, or 0.
Skechers (SKX) stock was down 4.2% today in reaction to the footwear maker’s mixed third-quarter results. Find out what went wrong for the company.
When the music stopped Tuesday afternoon, the CEOs of three large public companies were sitting in new seats. (NKE) (ticker: NKE) announced Tuesday afternoon that Chief Executive Mark Parker would step down by the end of the year, to be replaced by (NOW) (NOW) CEO John Donahoe. Just minutes later, ServiceNow said that its new CEO will be Bill McDermott, who stepped down from the CEO role at (SAP) (SAP) less than two weeks ago.
(NKE) stock (ticker: NKE) fell Wednesday morning, a day after the athletic giant named its new chief executive, to the applause of analysts. Nike shares have climbed 26% year to date, running ahead of the S&P 500’s nearly 20% gain. While Nike was originally rallying after-hours on Tuesday’s news that it will get a new CEO, the shares have since dipped into the red.
Jim Cramer has some thoughts on Boeing and Caterpillar's earnings and the CEO shakeups at ServiceNow, Under Armour, and Nike.
If it wasn't for Boeing Co.'s stock rally, the Dow Jones Industrial Average would be fractionally lower. Boeing's stock rallied 2.6% to pace the Dow's gainers, after the aerospace and defense giant reported a third-quarter profit that was well below expectations but revenue that beat forecasts. The $8.74 price gain would add about 59 points to the Dow's price. Meanwhile, the Dow was up 59 points, or 0.2%, with 16 of 14 components losing ground. The biggest decliner was Nike Inc.'s stock , which fell $2.15, or 2.3%, after announcing late Tuesday that Chief Executive Mark Parker was stepping down, to shave about 15 points off the Dow, while Caterpillar Inc. shares shed 38 cents, or 0.3% afteran earnings miss to cut about 3 points off the Dow.
Nike "Vaporfly" sneakers are under investigation by the International Association of Athletics Federations for possibly boosting the performance of runners. Axios sports editor Kendall Bakers joined CBSN AM to explain how the sneakers help runners and if they'll be banned from the 2020 Olympics.