|Bid||133.30 x 1000|
|Ask||133.61 x 1000|
|Day's Range||133.00 - 139.49|
|52 Week Range||129.33 - 206.80|
|Beta (3Y Monthly)||0.76|
|PE Ratio (TTM)||8.87|
|Earnings Date||Aug 21, 2019 - Aug 26, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||188.19|
Fresh from a powerful three-year surge, the software industry is entering a new period of uncertainty. Shares in Salesforce, the leading software-as-a-service player, surged more than 6 per cent on Thursday after a quarterly earnings report that dispelled recent worries about flagging growth. Meanwhile, tax and small business software company Intuit, which has seen its stock market value jump nearly threefold over the past four years, to $71bn, forecast another solid year of growth, sending its shares up 5 per cent.
(Bloomberg) -- VMware Inc. agreed to purchase two software companies on Thursday, expanding its reach in development tools and cybersecurity.The Palo Alto, California-based company said the net cash payout for the two purchases will be $2.7 billion. It’s buying Pivotal Software Inc., which sells cloud software and services, for a blended share price of $11.71, representing an enterprise value of $2.7 billion. VMware also agreed to purchase Carbon Black Inc., a cybersecurity firm, for $26 a share, representing an enterprise value of $2.1 billion.VMware, which makes virtualization and networking tools and is majority-owned by Dell Technologies Inc., said the combined company will provide software to build, run, manage, connect and protect any app on the cloud or any device. Purchasing the two companies will accelerate VMware’s plan to deliver secure, multicloud application development.The two acquisitions “will meaningfully expand our ability to power our customer’s digital transformation,” said Pat Gelsinger, VMware’s chief executive officer.“These acquisitions address two critical technology priorities of all businesses today -- building modern, enterprise-grade applications and protecting enterprise workloads and clients,” he said.Pivotal CEO Rob Mee said, “Together, we will form an organization that combines Pivotal’s expertise modernizing organizations with VMware’s capabilities and experience operating at scale.”Once the deal for Waltham, Massachusetts-based Carbon Black is complete, VMware said it would be positioned to provide “highly differentiated, intrinsic security cloud” through big data, behavioral analytics and artificial intelligence.“We now have the opportunity to seamlessly integrate Carbon Black’s cloud native end point protection platform into all of VMware’s control points,” said Patrick Morley, Carbon Black’s CEO.Both transactions are expected to be completed in the second half of VMware’s fiscal year, which ends Jan. 31.JPMorgan Chase & Co. acted as financial adviser to VMware on the deals, with Morrison & Foerster LLP acting as legal adviser to VMware on the Carbon Black acquisition and Wilson Sonsini Goodrich & Rosati as legal counsel to VMware on the Pivotal purchase.(Corrects overall purchase price in headline, purchase values in story.)\--With assistance from Jim Silver.To contact the reporter on this story: William Turton in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Andrew Martin, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Wall Street is still nervous and for good reason. The economic global wars are escalating especially between the US and China. Just Friday and ahead of the G7 meetings, China announced resuming its tariffs on US autos. So the politicians continue to pick on headline scabs and cause upside breakout setups to fail at inopportune moments. Simply put, homework is hostage to headlines during this period.Nevertheless, here are the top stocks trades for today: Roku (NASDAQ:ROKU), Aurora Cannabis (NYSE:ACB), VMware (NYSE:VMW), Boeing (NYSE:BA), and Salesforce.com (NYSE:CRM). Top Stock Trades for Monday No. 1: ROKUInvestorPlace - Stock Market News, Stock Advice & Trading TipsThere is too much love for the ROKU stock. So I shorted it almost exactly at the top. My thesis was simple but I think it's time to change my mind on that.Short term, there could be more downside perhaps to close to the open gap at $110. But eventually my take on it is to stop selling the rips and buying the dips in ROKU stock. So I would chase it back to new highs if it closes above $143 per share.Meanwhile, ROKU stock fell on Friday but there should be support down to 133 and $127 per share. Below that it could trigger the gap fill move. So I wait patiently for the level breaks and chase them in that direction. * 7 Retail Stocks to Buy on the Dip Fundamentally, I've been a critic of Roku because they've been in business for 16 years and they still haven't figured out how to be sustainability profitable. But maybe that was because the environment wasn't conducive for their business model.Now that Netflix (NASDAQ:NFLX) established fact that the world wants to cut the cord and stream content, Roku has a better setup because it aggregates content so there will be strong demand for its services. based on this, it's better to trade the ROKU stock than try to judge it on its lack of success in the past. The future prospects are not going to be like what has happened most of those 16 years. Top Stock Trades for Monday No. 2: Aurora Cannabis (ACB)Cannabis stocks are falling off a cliff after incredible hulk blah last year. But one stock stood out among all the high-profile names of late. ACB stock has held up better than most. This is not to say it's doing well except in relation to the rest. Even Canopy Growth (NYSE:CGC) which was once considered the cream of the crop cannot find the bottom. They are all in a technical breakdown patterns setting lower lows for weeks.Meanwhile ACB stock has been managed to hold just above a bearish pattern trigger. It even manage to set a few higher-lows recently. But since its chart is still in a negative channel, then I expect at some point that trend line will break up words.But the immediate goal for bulls is to hold ACB from triggering a bearish pattern that would target $4.70 per share. They can do that by holding above $5.50 now. Else there might be more pain ahead.Eventually and if pot stocks have any future, I expect that the sectors rebounds and ACB stock should lead the charge. It's closest to that since it's showing relative strength now. So this stock is on the watch list and the upside triggers could start as early as $6.20 per share. If that happens it would invite more momentum buyers and cause shorts to cover and book their profits.Since the bulls of ACB stock have so far been able to maintain the line in such negative sector-wide action, the upside scenario looks a little more likely than the breakdown. If I am long ACB stock and have not bailed on it, now is not the time to do it for the same reasons stated here. Top Stock Trades for Monday No. 3: VMware (VMW)VMW stock has had a terrible year so far. It's lagging behind since it's only up half as much the S&P 500. Moreover, VMW is down 30% from the March highs. But the opportunity to buy VMW stock is fast approaching. On Friday the stock fell 8% on a decent earnings headline.It has fallen so far that it is reaching a long term pivot zone. These are usually support because bulls and bears have a history of tough fights there. This creates congestion and should give the VMW stock bulls the chance to stabilize the stock and mount their bounce rally.Specifically, VMW stock is just above the last two bottoms around the Christmas corrections. So unless there is something new developing these should hold. VMW $130 per share was pivotal in early 2018 and it should again play an important part soon.Since they don't ring bells at bottoms, I can start a long position with an appropriate stop. It's best to see VMW stock rise above $145 to trigger some buying to accelerate. Conservatively, I can wait it out until a clear trough develops but the downside risk from the charts seems reasonably low. Top Stock Trades for Monday No. 4: Boeing (BA)BA stock was almost impossible to short. Every dip was a buying opportunity. But the sad events of the Boeing 737 Max crashes changed that fact. Now the headlines are more negatively impactful than positively.The headlines are fast and furious and the BA stock bulls are in pain.I would buy BA stock here but this is for the long term. This is after all still a duopoly where both suppliers are overbooked for a decade in advance. So these operational and political problems here are transitory. So this is a classic scenario of this too shall pass.BA stock sells at a 41 price to earnings ratio and pays a respectable dividend. So owning it at these levels is not paying for a lot of bloat. Most of the perceived froth has already been sold out of it.BA stock was up on Friday even though the stock markets were down almost 2%. So this is encouraging but there is a band of resistance through 380 per share. But if the BA bulls can push through it then they target a $50 rally from there. Top Stock Trades for Monday No. 5: CRMThis is the company that invented the cloud. It started years ago when no others were pursuing using the internet for business operations. They battled the behemoth Microsoft (NASDAQ:MSFT) and won. This should have been a sign that CRM stock had much higher levels to go.Indeed, it's is up 162% in five years. On Friday, CRM stock spiked another 5% on a reaction to an excellent earnings report (and then fell with the broader market). They beat all expectations and raised their forward guidance. This silenced a lot of criticism of their acquisitions efforts. Clearly this is a team that is executing on plans perfectly and the only way for the Salesforce.com stock is up. * Stock Market Today: Trump's Tweets Rattle Investors, Foot Locker Trips So If I am long the stock for the long term then I am lucky and stay in it. I personally had longs as a binary bet on the earnings and it paid quickly. But I would buy CRM stock when it closes above $161 per share. From their the upside potential is for another $15 rally in the next few months. There is some short term concern from the open earnings gap.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now The post 5 Top Stock Trades for Monday: ROKU, ACB, VMW, CRM, BA appeared first on InvestorPlace.
NEW YORK , Aug. 23, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Pivotal Software, Inc. ("Pivotal ...
NEW YORK , Aug. 23, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Carbon Black, Inc. ("Carbon Black" ...
Shares of Apple and Silicon Valley's semiconductor companies were pummeled on Friday as President Trump responded to new tariffs from China with a tweet saying he's demanding that American companies "immediately start looking for an alternative to China."
Moody's Investors Service ("Moody's") affirmed Dell Inc.'s Ba1 Corporate Family Rating (CFR) and Ba1-PD Probability of Default Rating following the announcement that VMware, Inc. plans to acquire Pivotal Software, Inc. and Carbon Black, Inc. for $4.8 billion, including approximately $2.8 billion in net cash consideration. VMware plans to finance the cash portion of the purchase price from a combination of cash on hand and proceeds from short-term borrowings. As part of the rating action, Moody's also affirmed the debt ratings at Dell International LLC and EMC Corporation.
Moody's Investors Service ("Moody's") affirmed VMware, Inc.'s ("VMware") Baa2 senior unsecured rating following the company's announcement that it plans to acquire Pivotal Software, Inc., for cash and stock consideration representing an enterprise value of $2.7 billion, and Carbon Black, Inc., for cash consideration of $2.1 billion. Carbon Black provides cloud-delivered endpoint security solutions and Pivotal is a provider of cloud-native platform for software applications development.
The Dow Jones fell for a fourth week as the China trade war escalates, despite a dovish Fed chief Powell. Target, Home Depot, Salesforce rose on earnings.
Pivotal Software (NYSE:PVTL) stock is heading higher on Friday thanks to a deal with VMware (NYSE:VMW).Source: Sundry Photography / Shutterstock.com This deal has VMware looking to acquire Pivotal Software for a total of $2.70 billion. The company is offering a mix of cash and stock to shareholders of PVTL stock. This gives it a blended price of $11.71 per share.This offering has VMware offering shareholders of Pivotal Software stock $15 in cash for each share of Class A stock. It also includes exchanging of shares of VMware's Class B common stock for shares of Pivotal Software Class B common stock held by Dell Technologies (NYSE:DELL). The exchange ratio here is 0.0550 shares of VMware Class B stock for each share of Software Pivotal Class B stock.InvestorPlace - Stock Market News, Stock Advice & Trading Tips"The VMware Board of Directors is committed to creating value for all stockholders," Karen Dykstra, Chairperson of the Special Committee of VMware's Board of Directors, said in a statement. "After a thorough and independent evaluation with its advisors, and working closely with the VMware management team, the Special Committee recommended the Board approve this transaction with Pivotal given its strong strategic and long-term value to the company and its customers."The deal is set to close during the second half of VMware's 2020 fiscal year, which ends Jan. 31, 2020. However, it still needs to complete customary closing conditions. That includes getting approval from regulators and shareholders. * 7 Retail Stocks to Buy on the Dip Pivotal Software isn't the only recent acquisition that VMware has announced. The company also revealed that it is planning to purchase Carbon Black (NASDAQ:CBLK) as well.PVTL stock was up 8% as of noon Friday. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now As of this writing, William White did not hold a position in any of the aforementioned securities.The post Pivotal Software (PVTL) Stock Rockets Higher on VMware Deal appeared first on InvestorPlace.
NEW YORK , Aug. 23, 2019 /PRNewswire/ -- Rowley Law PLLC is investigating potential claims against Carbon Black, Inc. (NASDAQ: CBLK) and its board of directors for breach of fiduciary duty concerning the ...
Carbon Black (NASDAQ:CBLK) stock is on the rise today following news of a deal with VMware (NYSE:VMW).Source: Sundry Photography / Shutterstock.com The deal between Carbon Black and VMware is going to have the latter acquiring the former. This will be through a cash tender offer that values the company at $2.10 billion. That has the per share value of the offer sitting at $26. The offer of $26 per share for CBLK stock represents a 6% premium over the stock's closing price yesterday."The security industry is broken and ineffective with too many fragmented solutions and no cohesive platform architecture," Pat Gelsinger, CEO of VMware, said in a statement. "By bringing Carbon Black into the VMware family, we are now taking a huge step forward in security and delivering an enterprise-grade platform to administer and protect workloads, applications and networks."InvestorPlace - Stock Market News, Stock Advice & Trading TipsVMware says that it will be using a mixture of cash on hand and some available through short-term lending in order to acquire Carbon Black. The company also notes that it is expecting the deal to close during the second half of its fiscal 2020 year, which ends on January 31, 2020.VMware and CArbon Black still need to complete customary closing conditions before the deal can reach completion. This includes getting approval from regulators, as well VMW obtaining a majority stake in CBLK stock. * 7 Retail Stocks to Buy on the Dip VMware is getting its financial advice from J.P. Morgan Securities and legal advice from Morrison & Foerster. Morgan Stanley & Co. is providing financial advice to Carbon Black and Goodwin Procter is handling the legal advice.Another recent deal for VMware has it agreeing to acquire Pivotal Software (NYSE:PVTL). You can follow this link for more details about that deal.CBLK stock was up 6% and VMW stock was down 8% as of noon Friday. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Retail Stocks to Buy on the Dip * 7 Marijuana Stocks With Critical Levels to Watch * 7 Internet of Things Stocks to Buy Now As of this writing, William White did not hold a position in any of the aforementioned securities.The post Carbon Black (CBLK) Stock Soars on $2+ Billion VMware Deal appeared first on InvestorPlace.
VMware, Inc. (NYSE: VMW) shares tumbled on Friday after the company reported a mostly in-line second quarter and announced two big acquisitions. In addition to the highly-anticipated $2.7 billion deal for Pivotal Software Inc (NYSE: PVTL), VMware also took the market by surprise by announcing a $2.1 billion acquisition of security software company Carbon Black Inc (NASDAQ: CBLK), which had been the subject of buyout rumors for weeks. Several analysts have weighed in on VMWare following its earnings report and news of its spending spree.
NEW YORK, Aug. 23, 2019 -- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Carbon Black, Inc. (“Carbon Black”.
VMware's (VMW) second-quarter fiscal 2020 results benefit from strong top-line growth, driven by robust performance from NSX and vSAN product lines.
PALO ALTO, Calif., Aug. 23, 2019 (GLOBE NEWSWIRE) -- VMware, Inc. (VMW), today announced new innovations across the VMware Cloud Provider Platform that will help cloud providers further expand their business opportunities in the new application economy. VMware’s expanded portfolio will also enable cloud providers to deliver new cloud services for differentiation and, in turn, potential revenue growth, and create clouds that are developer ready and support modern applications.
Aug.23 -- Pat Gelsinger, VMware Inc. chief executive officer, discusses the company's agreement to purchase two software companies, Carbon Black Inc. and Pivotal Software Inc., and the current state of the tech industry. He speaks with Bloomberg's Caroline Hyde, Romaine Bostick and Taylor Riggs on "Bloomberg Markets: What'd You Miss?"