Oracle (ORCL) is chasing Salesforce.com (CRM) into the fast-growing market of marketing services delivered via the Internet “cloud.” The software giant on Friday said it plans to acquire Responsys (MKTG), a leading provider of business-to-consumer marketing services via the cloud. Oracle, fresh off reporting fiscal Q2 earnings that beat analyst estimates, will pay $1.5 billion in cash, or $27 a share, a 38% premium over Thursday’s closing price
A survey of chief information officers on their 2014 spending priorities bodes well for cloud computing, networking, security and apps. Pacific Crest Securities on Wednesday released the results of its annual CIO survey, which assesses information technology spending trends and implications across enterprise IT. The survey of 63 corporate chief information officers in November indicated that cloud, security and mobile technologies would continue to take a greater percentage of IT budgets next year. Surprisingly, the data also show that on-premise software could rebound in 2014. Pacific Crest analysts see Adobe Systems (ADBE) and Salesforce.com (CRM) as large-cap companies gaining spending share through secular trends next year. They see Infoblox (BLOX), Equinix (EQIX), Palo Alto Networks (PANW) and Qlik Technologies (QLIK) as mid-cap gainers and Gigamon (GIMO), Bazaarvoice (BV) and Brightcove (BCOV) as small-cap gainers. They predict that Oracle (ORCL) and Aruba Networks (ARUN) will benefit from cyclical growth trends. Overall…
Salesforce.com (CRM) stock fell Tuesday after the company posted mixed Q3 results late Monday and gave mixed guidance for the current quarter. Q3 revenue jumped 36% and beat analyst estimates, but EPS ex items was just in line and EPS guidance came up slightly short as expenses continue to rise faster than sales, as IBD reported. Salesforce.com stock was down as much as 5.3% in early trading in the stock market today, but the stock was down less