SAP (SAP) stock soared Tuesday, and headed for its eighth straight up day, after the business software giant offered preliminary Q3 earnings that beat Wall Street expectations. SAP gapped up nearly 6% in afternoon trades in the stock market today, near 72.50. Shares are up more than 12% since they last had a losing session on Oct. 1, and up 14% from a three-year closing low of 63.37 in late September. The German-based company said Q3 net income
Look for more blockbuster, large-cap tech M&As, says Goldman Sachs, which says IBM has the biggest war chest and Salesforce.com (CRM) is the biggest difference maker among potential targets. Goldman analyst Heather Bellini says cash-rich Microsoft, Oracle (ORCL), IBM (IBM) and SAP (SAP) will continue making acquisitions targeting cloud-based software-as-a-service, security, Big Data and business intelligence. “We think IBM could support an
The talk of possibly putting itself on the market, which propelled Salesforce.com’s (CRM) stock to a record high above 78 in April, has subsided, and the cloud computing pioneer has stayed roughly flat ever since. As rumors swirled that Salesforce might be the object of desire for such suitors/rivals as Oracle (ORCL), Microsoft (MSFT) and SAP (SAP), Salesforce has been able to beat Wall Street earnings estimates. That’s been the case for each of