Oracle (ORCL)
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Oracle arendab, toodab ja turustab arvutitarkvara, mis aitab ettevõtetel korraldada ja arendada nende äri. Sinna alla kuulub süsteemi- ja rakendustarkvara. Antud tööstusharus on ainult Microsofti veelgi suurem tegija. Põhiline tulu tuleb firmal andmebaasitarkvara osas, kuid sinna on trüginud mitmed teisedki suurfirmad ning konkurents on tugev. Firma edu põhineb tsüklilistel toodetel, millede väljatoomine nõuab suuri investeeringuid ja nende eluiga on suhteliselt lühike.
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Oracle kvartalikeskse raporti kokkuvõte:
07:22 ORCL Oracle: Color on Quarter (10.55 )
Analysts positive on Oracle following last night's upside report, largely based on the consistency that ORCL has demonstrated for the 4th qtr in a row in hitting financial tgts. The database market seems to be running strong with ORCL regaining share. The only fly in the soup seems to be the applications biz that is showing unexpectedly weak performance, mostly due to competition from SAP... UBS noting that mgmt guided F2Q05 license revenues to -2% - 8% yr/yr growth. According to the firm, this implies a range of $838mm-$923mm. Consensus had been coming down over the past week and is currently at $907mm. While there might be some concern on the low end of guidance, they believe mgmt is trying to set a reasonable bar. In firm's view, given a new CFO is in place, they believe this represents an opportune time to set up guidance that investors have confidence in. They believe the co is focused on developing a pattern of predictable results, vs its lumpy pattern of hitting license numbers of days past.. JP Morgan out saying applications were again abysmal, declining 36% YoY and falling well short of our $107M est. and even the most pessimistic estimates. The apps market is clearly experiencing a share shift (to SAP), aggressive pricing pressure and a down draft from the ORCL/DoJ trial. ORCL's confidence in YoY growth for apps in Q2 seems to suggest deals have already closed, but the firm is cutting their FY05 apps lic. target by $61M. Despite that, maintains Overweight... Piper Jaffray probably the most negative firm out there saying financial engineering continues with improved operating margins, but they are concerned by declining organic growth. Operating margins gained 260 basis points YoY to 32.3%. Additionally, net income of $509m came in above their $492m estimate due to a revenue mix shift from consulting to license, and efficiencies in S&M and R&D. Firm is reducing their new license growth estimate from 6.9% to 4.9% for FY2005. Retains Mkt Perform with $12.5 tgt. -
Kuidas te hindade ORCL ja PSFT ühinemist? Õnnestub /ei õnnestu? Oracle räägib ühinemisest (ülevõtmisest ) oma kodukal kõvasti... PSFT aga hoiab suu kinni.
24 Sept on ORCL pikendatud pakkumise tähtaeg - 21$ PSFT aktsia eest.
