Corporate America has been moving computing workloads to the cloud more slowly than expected. Equinix aims to change that with Cloud Exchange, a new offering for enterprise customers. Equinix (EQIX), a provider of computer data centers, is expected to lay out more of its Cloud Exchange strategy at its analysts day event in New York on Wednesday. Equinix stock touched a 13-month high Thursday. Data-center operators provide space, power and cooling.
Equinix (EQIX) stock fell Thursday after the data center operator late Wednesday forecast current-quarter and full-year revenue below views. Equinix, however, reported Q4 EPS and revenue above expectations. Equinix said Q4 revenue rose 12% from the year-earlier quarter to $564.7 million, topping analysts estimate of $562.6 million. Profit increased 31% to 88 cents per share, beating estimates by 9 cents. Equinix stock was down 3% in afternoon
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…