• What's Next for Netflix Stock After Q3 Earnings as Apple & Disney Launch?
    Zacks

    What's Next for Netflix Stock After Q3 Earnings as Apple & Disney Launch?

    Netflix's post-release positivity was short lived as NFLX stock fell Thursday and slipped another 6% Friday. Now what?

  • Adobe Systems (ADBE) Dips More Than Broader Markets: What You Should Know
    Zacks

    Adobe Systems (ADBE) Dips More Than Broader Markets: What You Should Know

    Adobe Systems (ADBE) closed at $265.52 in the latest trading session, marking a -1.38% move from the prior day.

  • Netflix Stock: The Decline May Just Be Starting
    Market Realist

    Netflix Stock: The Decline May Just Be Starting

    Netflix is down 6.1% today, and some traders are actively betting that Netflix stock will plunge in the coming weeks and months. Here's why.

  • Could Microsoft Azure Be the Next Windows?
    Market Realist

    Could Microsoft Azure Be the Next Windows?

    Analyst Christopher Eberle reiterated a "buy" rating and a price target of $161 on Microsoft stock. He predicts that Azure could grow 61.6% in Q1.

  • Are Q3 2019 Earnings Results Really That Good?
    Zacks

    Are Q3 2019 Earnings Results Really That Good?

    Are Q3 2019 Earnings Results Really That Good?

  • Mark Hurd, Oracle CEO Who Led Three Tech Companies, Dies
    Bloomberg

    Mark Hurd, Oracle CEO Who Led Three Tech Companies, Dies

    (Bloomberg) -- Mark Hurd, who was chief executive officer of three major technology companies including Oracle Corp., has died. He was 62.Most recently Hurd was co-CEO at Oracle with Safra Catz where he focused on sales, marketing and press and investor relations, while she ran finances and legal matters. Oracle announced on Sept. 11 that Hurd had begun a leave of absence for unspecified health-related reasons and that Catz and Oracle Chairman Larry Ellison would assume his responsibilities during his leave. The company didn’t disclose a cause of death Friday.“It is with a profound sense of sadness and loss that I tell everyone here at Oracle that Mark Hurd passed away early this morning,” Ellison wrote in an online post. “Mark was my close and irreplaceable friend, and trusted colleague. Oracle has lost a brilliant and beloved leader who personally touched the lives of so many of us during his decade at Oracle.”Hurd began his career in 1980 as a salesman for National Cash Register Corp. (now NCR), before rising in the ranks to the CEO post. In 2005, he was hired away as CEO by Hewlett-Packard Co., then the world’s biggest personal-computer maker. Hurd joined Oracle as a co-president in 2010, after resigning from HP following a sexual-harassment probe. While an internal investigation didn’t find a violation of the company’s sexual-harassment policy, it concluded that he violated company standards by filing inaccurate expense reports to conceal a personal relationship with a contractor.During his Oracle tenure, Hurd produced solid revenue and profits as the Redwood City, California-based company’s stock price hit a historic high in 2019. He was also a key driver in Oracle’s turn from an old model of licensing software toward the use of cloud computing, a burgeoning business dominated by rivals Amazon.com Inc. and Microsoft Corp.When he hired Hurd, Ellison said, “There is no executive in the IT world with more relevant experience than Mark.” Ellison described Hurd’s dismissal by HP as the “worst personnel decision since the idiots on the Apple board fired Steve Jobs.”Transformed SalesforceHurd reshaped Oracle’s salesforce. Beginning in 2013, he implemented a “specialist” model that made each member an expert in a single product category. In that year alone, he hired more than 4,000 people to implement his idea.He also created the “Class of” program that was designed to inject a startup feel into Oracle. College graduates were hired for a dedicated program that prepared them to become Oracle’s future sales leaders.In 2014, Hurd and Catz were named co-CEOs, while Ellison continued to serve as chairman of the board, orchestrate management changes and develop products as chief technology officer.Hurd was regarded as the most media-friendly of the trio, frequently serving as the public face of the company to outline its goals. At the time Hurd and Catz were named CEOs, Oracle’s central business was selling software designed to run on gear owned by the customer and charging a license fee. Hurd was among those inside Oracle who saw the company’s future in cloud computing -- which would let customers rent software and run their data on servers owned by vendors such as Oracle. He predicted in 2015 that by 2025 all enterprise data would be stored in the cloud and that 100% of software development and testing would run through it.Today, the company is much less ambitious in its cloud efforts, and has been making smaller promises. In June, Oracle said it would partner with Microsoft, a decades-long rival, to connect the two companies’ cloud services, so customers can use Oracle databases or applications tied to Microsoft’s Azure cloud. While Catz said Microsoft, the world’s largest software maker, wanted an alliance to give clients access to Oracle’s AI-driven databases, the move was a concession—signaling Oracle knew it could no longer go at it alone.It’s now Catz who will have to go it alone, at least for now. Some analysts expect the company will move to appoint a new partner soon. “It’s much more manageable to have two CEOs, so we would be surprised if Oracle goes back to one CEO going forward,” said John Barrett, an analyst at Morningstar Investment Service. “The larger question is how Oracle will go about searching for the co-CEO role and how quickly they can find a successor.”The succession will likely come from within the company’s deep bench. One option is Jeff Henley, Oracle’s vice chairman and former chief financial officer, according to Abby Adlerman, CEO of Boardspan, which provides software and services to address board governance. “I think from a succession planning perspective, they are in a much better place than most companies. They have a lot of options.” Ellison will likely stay close and in the long term, “it’s a matter of if Safra wants to go at it alone. It’s such a big company that there was a reason for the co-CEO role.”Ellison has mentioned Don Johnson, head of Oracle’s cloud infrastructure division, and Steve Miranda, head of Oracle’s applications unit, as possible partners to Catz in the future.Growth StrategyHurd led the charge to make Oracle one of the dominant cloud players, investing heavily in research and development and acquisitions, such as the $9.3 billion purchase of NetSuite Inc., sometimes called the first cloud company, in 2016. Oracle also bought Eloqua Inc., a marketing software company, and Taleo Corp., which makes talent-management.He secured significant deals with AT&T Inc., Bank of America Corp., and Qantas Airlines to transfer their existing databases to the cloud through Oracle. By late 2019, Oracle served more than 420,000 customers in 195 countries and territories, he said.Hurd had gone on a similar acquisition binge at HP, managing about $24 billion in deals, including buying Electronic Data Systems (EDS), as part of a larger plan to diversify the computer maker.He was also a drastic cost cutter who was responsible for firing thousands of workers when he first took over as HP’s CEO and laying off thousands more after the $13.9 billion purchase in 2008 of a struggling EDS, a move many investors disliked.Still, under Hurd’s tenure, HP increased profits for 22 straight quarters, while its revenue rose about 60% and its stock price doubled, according to data compiled by Bloomberg. He also helped HP surpass International Business Machines Corp. as the largest computer maker by sales.There were some dark moments at HP too. In 2006, it was disclosed that Hurd had helped launch an investigation into internal leaks from the company’s board. Outside security consultants conducted surveillance on a journalist and HP board member, and used a subterfuge to acquire phone and fax records for HP employees, board members and journalists. The California attorney general’s office opened a criminal probe into possible privacy violations, and HP’s chairwoman at the time, Patricia Dunn, resigned her post when the scandal broke.For his part, Hurd defended the need to investigate company leakers, but claimed he didn’t know about the investigators’ tawdry tactics because he’d ducked out of a briefing on the investigation and, several months later, ignored a verbal and written summary of the leak probe.After Hurd was ousted following the sexual harassment probe in 2010, HP discontinued making smartphones and its tablet computer. Eventually it split into two companies, one focused on personal computers and printers and the other on software and services.Top CEODespite navigating several scandals, Hurd was lauded by the industry. In 2007, he was named one of Fortune magazine’s 25 most powerful business leaders. In 2008, the San Francisco Chronicle named Hurd CEO of the Year.“Saddened by the loss of Mark Hurd,” wrote Bill McDermott, who stepped down as CEO of SAP SE this month, on Twitter. “He was a self-made success in the industry & presided over mega accomplishments. While we competed vigorously in the market, we enjoyed professional respect. My heartfelt prayers are with Mark’s family on this solemn day.”Mark Vincent Hurd was born on Jan. 1, 1957, in New York and lived on the affluent Upper East Side of Manhattan. His Yale-educated father was a financier who moved the family to Miami while Hurd was in high school. His mother was a debutante.Hurd received a tennis scholarship to Baylor University in Waco, Texas, where he earned a bachelor’s degree in business administration in 1979.He was hired in 1980 as a junior sales person by National Cash Register in San Antonio. He eventually became president, chief operating officer and CEO of the maker of automatic teller machines and cash registers.Based on his NCR record, HP hired him in 2005 as its CEO and added the chairman title the following year.“Mark just blew everybody else out of the water,” said Tom Perkins, a former HP executive who interviewed Hurd for the CEO job.Hurd served on a number of corporate boards and was a Baylor University trustee since 2014.He was married to the former Paula Kalupa in 1990. They had two daughters, Kathryn and Kelly.(Updates with comments from analyst in 12th paragraph)\--With assistance from Nico Grant, Peter Waldman and Candy Cheng.To contact the reporter on this story: Patrick Oster in New York at poster@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Should Investors Buy during the Roku Stock Rally?
    Market Realist

    Should Investors Buy during the Roku Stock Rally?

    Roku (ROKU) stock has rallied 35.8% month-to-date, rising 16.7% this week alone. Fears are now easing and investors are reacting to positive news on Roku.

  • 3 Tech Stocks for Growth Investors to Buy During Q3 Earnings Season
    Zacks

    3 Tech Stocks for Growth Investors to Buy During Q3 Earnings Season

    Let's dive into three tech stocks that we found using our Zacks Stock Screener that growth investors might want to consider buying during Q3 2019 earnings season...

  • Top Analyst Reports for Facebook, UnitedHealth & HSBC
    Zacks

    Top Analyst Reports for Facebook, UnitedHealth & HSBC

    Top Analyst Reports for Facebook, UnitedHealth & HSBC

  • Netflix, Alteryx, and Okta Lead Tech Losses Today
    Market Realist

    Netflix, Alteryx, and Okta Lead Tech Losses Today

    In the September quarter, Netflix sales rose 30% to $5.2 billion. The company's sales were marginally below the estimates of $5.3 billion.

  • FX Empire

    GBP/USD Weekly Price Forecast – British Pound Slams Into Major Level

    The British pound initially pulled back a bit during the week but then shot through the roof and slammed into the 1.30 level. Ultimately, this is a market that has possibly gotten ahead of itself as Parliament is yet to vote on the deal Boris Johnson struck.

  • Software Names Slide as Atlassian Fails to Ease Valuation Fears
    Bloomberg

    Software Names Slide as Atlassian Fails to Ease Valuation Fears

    (Bloomberg) -- Software companies fell on Friday, extending recent losses after results from Atlassian Corp. topped analyst forecasts yet failed to provide enough upside to assuage concerns over the group’s valuation.Atlassian shares dropped as much as 11% to their lowest level since May. The stock was on track for its third straight decline, as was Veeva Systems Inc., off 5.4%, and ServiceNow Inc., down 3.8%, which reports its own results next week. Coupa Software Inc. sank 8.4% in its fourth straight drop, a period over which it has shed more than 20% of its valuation. Twilio Inc. was down 4.5%. Alteryx Inc. was down 7.2% and Crowdstrike Holdings Inc. dropped 7.3%, heading for the eighth decline in the past nine sessions.A basket of high-multiple software stocks tracked by Goldman Sachs fell 5.7% in its fifth straight decline, hitting its lowest since March, while the Russell Midcap Technology Growth Index was down 2.2%.“When investors have lost conviction, it usually means the best strategy is to stay conservative until the coast is at least somewhat clear,” wrote Richard Davis, an analyst at Canaccord Genuity. “We are in that time in the cycle.”Davis has a buy rating on Atlassian, writing that it “fits the description of a safe harbor company.” However, he said the stock has a “high-ish valuation” and suggested that multiples could be hard to justify. “In this macro environment,” he wrote, “if anyone expected an over-sized guide up, they haven’t been paying attention.”Recent weakness in the sector included both Workday Inc. and Zoom Video Communications Inc. tumbling in the wake of their respective investor events, which underlined growth concerns.Atlassian’s results included a raised full-year revenue forecast, and Cowen wrote that this could ease broader concerns over the sector.This “was one of the more anticipated prints in software as a result of emerging macro concerns in the space and it being one of the first to report,” analyst J. Derrick Wood wrote. The “solid numbers & outlook, along with constructive commentary on stable demand conditions, should give investors greater comfort in the potential for stability in software spending.”To contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Jim SilverFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • FX Empire

    GBP/USD Price Forecast – British Pound Sideways On Friday

    The British pound has gone back and forth during the session on Friday, as traders await the results of Parliament voting on the deal that Boris Johnson returned from the European Union with. That being said, we are a bit overstretched going into the weekend.

  • Facebook's (FB) Watch to Get Exclusive Shows From FOX Sports
    Zacks

    Facebook's (FB) Watch to Get Exclusive Shows From FOX Sports

    Facebook's (FB) Watch to receive sports-related digital shows and content from recent partnership with Fox Sports amid the intensifying sports streaming battle.

  • Microsoft, Nuance Team Up to Accelerate Healthcare Delivery
    Zacks

    Microsoft, Nuance Team Up to Accelerate Healthcare Delivery

    Microsoft (MSFT) partners Nuance Communications (NUAN) to deliver robust conversational AI and ambient intelligence technologies to transform doctor-patient interaction.

  • Stock Market News for Oct 18, 2019
    Zacks

    Stock Market News for Oct 18, 2019

    Major U.S. market indexes moved moderately north on Thursday, owing to a newly proposed Brexit deal and impressive third-quarter earnings results.

  • Pound After Brexit: Where To Go
    FX Empire

    Pound After Brexit: Where To Go

    British Prime Minister Boris Johnson and European Union leaders agreed a new deal for Britain to exit the bloc. The possible deal news was the main contributor behind the strengthening of the British Pound against the dollar by more than 6% over the week close to 1.30 levels at the peak of growth on Thursday.

  • What's in the Offing for ServiceNow's (NOW) Q3 Earnings?
    Zacks

    What's in the Offing for ServiceNow's (NOW) Q3 Earnings?

    ServiceNow's (NOW) Q3 results are anticipated to reflect expanding Global 2000 (G2K) customer base undergoing digital transformation.

  • Microsoft (MSFT) to Report Q1 Earnings: What to Expect?
    Zacks

    Microsoft (MSFT) to Report Q1 Earnings: What to Expect?

    Microsoft's (MSFT) first-quarter results are anticipated to reflect enterprise strength, robust Office 365 & Azure adoption.

  • Retail-Discount Stores Outlook: Prospects Look Promising
    Zacks

    Retail-Discount Stores Outlook: Prospects Look Promising

    Retail-Discount Stores Outlook: Prospects Look Promising

  • AT&T's Xandr Acquires Clypd to Boost TV Advertising Business
    Zacks

    AT&T's Xandr Acquires Clypd to Boost TV Advertising Business

    The acquisition will facilitate Xandr to introduce personalized TV ads and augment its linear TV ad space to Xandr Community, leveraging the technological prowess of its parent firm AT&T (T).

  • Amazon AWS Selected by Old Mutual, Expands Cloud Clientele
    Zacks

    Amazon AWS Selected by Old Mutual, Expands Cloud Clientele

    Old Mutual selects Amazon's (AMZN) AWS as the preferred cloud provider, which highlights the reliability of the company's cloud computing services.

  • Solid Q3 Makes Netflix Pricey: 4 Low-Cost Media Picks
    Zacks

    Solid Q3 Makes Netflix Pricey: 4 Low-Cost Media Picks

    Solid Q3 results have encouraged firms to jack up their price targets for Netflix (NFLX), making it pricey. For small investors, we have picked media stocks that are low-priced and have growth potential.

  • DISCA vs. NFLX: Which Stock Should Value Investors Buy Now?
    Zacks

    DISCA vs. NFLX: Which Stock Should Value Investors Buy Now?

    DISCA vs. NFLX: Which Stock Is the Better Value Option?

  • Synnex (SNX) Hits Fresh High: Is There Still Room to Run?
    Zacks

    Synnex (SNX) Hits Fresh High: Is There Still Room to Run?

    Synnex (SNX) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.

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