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The coronavirus pandemic is keeping everyone indoors, helping the work-and-learn from home culture gain prominence.
Microsoft (MSFT) closed at $181.40 in the latest trading session, marking a -0.23% move from the prior day.
(Bloomberg) -- Okta Inc. projected revenue in the current quarter in line with Wall Street estimates, suggesting that a swell of remote workers has created steady demand for its security software.Sales will be $185 million to $187 million in the period ending in July, the San Francisco-based company said Thursday in a statement. Analysts, on average, projected $185 million, according to data compiled by Bloomberg. Okta expects a loss, excluding some items, of 1 cent to 2 cents a share, better than analysts’ projection of a loss of 9 cents.The company affirmed its annual revenue forecast of as much as $780 million. The company now projects a narrower adjusted loss in the fiscal year of as much as 23 cents a share compared with an earlier forecast of 36 cents.Okta makes identity-management software used to log in to various systems. The company has benefited from businesses’ need to have employees remotely access corporate systems in a secure way. Chief Executive Officer Todd McKinnon has sought to integrate his technology with programs from various other companies in a bid to compete against larger rival Microsoft Corp. In April, Okta expanded an alliance with onetime foe VMware Inc. to help protect networks and applications from unsafe software and devices. The company announced similar pacts with CrowdStrike Holdings Inc. and Tanium Inc.“The good news for us is only 12% of our business is in Covid-19 impacted industries,” McKinnon said in an interview. “There are other companies going quickly to remote work and doing contracts that got fast-tracked.”Okta’s revenue climbed 46% to $183 million in the period that ended April 30, beating analysts’ estimates of $172 million. Excluding some items, the company lost $8.1 million in the quarter, or 7 cents a share. Analysts projected a loss of 18 cents.Okta’s remaining performance obligation, a measure of business under contract that the company expects to recognize over the next 12 months, jumped 57% in the quarter to $1.2 billion.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
There’s a brand-new $30 trillion investment trend that has investors across the globe giving on up old way of doing things, and focusing more on sustainable investments
Tensions escalate between President Trump and his favorite social media platform, Google and Microsoft considering investing in the Indian telecom market and the Raspberry Pi foundation announces a new Raspberry Pi. After Twitter flagged a pair of President Trump’s tweets with a fact-checking label on Tuesday, White House officials denounced a specific Twitter employee and said that the president will soon sign an executive order "pertaining to social media."
Autodesk (ADSK) first-quarter fiscal 2021 results reflect higher subscription revenues, gross margin expansion and lower operating expenses despite softness in software spending.
Growth at a reasonable price or GARP strategy helps investors gain exposure to stocks that have impressive prospects and are trading at a discount.
Weeks after Facebook acquired a 9.9% stake in India's Reliance Jio Platforms, two more American firms are reportedly interested in the Indian telecom market. Google is considering buying a stake of about 5% in Vodafone Idea, the second largest telecom operator in India, according to Financial Times. Separately, Microsoft is in talks to invest up to $2 billion in Reliance Jio Platforms, Indian newspaper Mint reported Friday.
(Bloomberg) -- Sony Corp. is planning a digital event to showcase games for its next-generation PlayStation 5 console that may take place as early as next week, according to people with direct knowledge of the matter.The virtual event could be held June 3, though some people also cautioned that plans have been in flux and that the date may change. Other PlayStation 5 events may follow in the coming weeks and months, and Sony is not expected to reveal every essential detail on the console during its first presentation.Read more: Sony Is Struggling With PlayStation 5 Price Due to Costly PartsA Sony spokesperson declined to comment. The company’s shares were largely unchanged in early Thursday trading in Tokyo.The Japanese tech giant has only let out a trickle of information on the PlayStation 5 so far, which the company says remains on track for release this holiday season despite the Covid-19 pandemic. Chief Executive Officer Kenichiro Yoshida said earlier this month that Sony “will soon be announcing a strong lineup of PS5 games.”June is traditionally highlighted by the biggest games industry conference, E3 in Los Angeles, but that was canceled this year due to the spread of the virus. In response, Sony and many game publishers are refashioning their promotional plans around streamed online presentations.Read more: Sony Is Said to Limit PlayStation 5 Output in Its First YearWhile only a small circle within Sony are privy to the appearance of the PS5 console, the controller has been shared with outside developers and, fearing it wouldn’t be able to control leaks, the company made it public in early April.Fans have been eager to hear about the lineup of video games that will launch alongside the console and later.Microsoft Corp., Sony’s most direct rival in the console wars, has put out regular streams and updates about the upcoming Xbox Series X, which is also planned for release this fall.(Updates with chart and share action in third paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Workday Inc. reported quarterly revenue that topped $1 billion for the first time, beating analyst estimates and continuing growth for the maker of human resources software despite the economic challenges of the pandemic. Shares rose more than 7% in extended trading.Revenue increased 23% to $1.02 billion in the fiscal first quarter, the Pleasanton, California-based company said Wednesday in a statement. On average, analysts expected $994 million, according to data compiled by Bloomberg. After some expenses, profit was 44 cents a share, compared with analyst projections of 47 cents.Workday expects subscription revenue for the fiscal year of $3.67 billion to $3.69 billion, down from as much as $3.77 billion. In the second quarter, subscription revenue will be as much as $915 million, the company said.Chief Executive Officer Aneel Bhusri has targeted a goal of $10 billion in annual revenue, from $3.6 billion the past fiscal year. The company continues to expand its human resources, accounting and planning software to offer the capabilities of established rivals Oracle Corp. and SAP SE, but delivered through the cloud. Before Workday reported results, some analysts were concerned that corporate customers aren’t interested in pursuing large software deals and complicated implementations during the Covid-19 pandemic.“The cloud is playing a critical role in today’s climate, with organizations leaning on Workday to pivot -- whether it’s helping employees learn virtually, closing books remotely, or scenario planning to determine what path to take,” Bhusri said in the statement.Workday also announced two partnerships Wednesday. One, with Microsoft Corp., will run Workday’s Adaptive Planning on the Azure cloud. Microsoft’s finance team will start using the product for its internal needs and both companies will collaborate on integrating their software products for mutual customers. The second partnership, with Salesforce.com Inc., aims to help organizations safely return to their offices in the wake of the Covid-19 pandemic.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Workday's (WDAY) expanding partner base is expected to aid it acquire more customers and expand its presence in the HCM market.
Dow Jones' journey past 25,000 points this week could mark the beginning of a series of gains ahead, owing to some major tailwinds.
Shares of Workday (NASDAQ: WDAY) have popped today, closing out the session with gains of 7% after the company reported fiscal first-quarter earnings yesterday. Subscription revenue was $882 million, and the cloud-based human resources platform now has a subscription revenue backlog of $8.2 billion. "The cloud is playing a critical role in today's climate, with organizations leaning on Workday to pivot -- whether it's helping employees learn virtually, closing books remotely, or scenario planning to determine what path to take," CEO Aneel Bhusri said in a statement.
Workday (WDAY) fiscal first-quarter results benefit from high demand for its cloud-based HCM and financial management solutions and synergies from Scout RFP acquisition.
Chip designers Advanced Micro Devices (NASDAQ: AMD) and NVIDIA (NASDAQ: NVDA) have been crossing proverbial swords for decades. They form a nearly unchallenged duopoly in the market for computer graphics processors, and the same chips can also churn through other types of advanced math problems at impressive speeds.
Yahoo Finance catches up with HP's CEO Enrique Lores fresh off its second fiscal quarter earnings report.
When Docker sold off its enterprise division to Mirantis last fall, that didn't mark the end of the company. In fact, Docker still exists and has refocused as a cloud-native developer tools vendor. Today it announced an expanded partnership with Microsoft around simplifying running Docker containers in Azure.
(Bloomberg) -- Adobe Inc., the maker of Photoshop, said some of its applications were knocked offline Wednesday by “major” technical issues.There were four major issues, down from 13 earlier, and 12 minor issues affecting Creative Cloud, Experience Cloud, Adobe Services and the Adobe Experience Platform as of 2 p.m. in New York, the San Jose, California-based company said. Adobe’s engineers were also trying to resolve other potential issues in progress.“We’re working urgently to get back online as soon as possible,” Adobe told users in a tweet. A spokesman said the technical issues aren’t security related.Major public-cloud vendors Amazon.com Inc., Microsoft Corp. and Alphabet Inc.’s Google reported no service issues, so the problems appear to be isolated with the software company. Adobe’s shares declined 1.6% to $370.76. The stock gained 14% this year through Tuesday’s close.Millions of people rely on Adobe’s creative and document apps. The company said its Creative Cloud apps have been downloaded 376 million times, and users opened 250 million PDFs with an Adobe program in the last year. Many businesses use Adobe’s marketing, advertising and analytics tools, which were disrupted by the technical problems.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Activision Blizzard, Walt Disney, Amazon, Alphabet and Microsoft highlighted as Zacks Bull and Bear of the Day