Workday, a fast-growing but money-losing cloud software leader, late Wednesday reported Q4 earnings and sales that beat expectations, as did its Q1 sales guidance. Workday (WDAY) stock was up 3% in after-hours trading Wednesday after releasing its results. Shares rose 1.6% in the regular session to 100.28, after touching a record high of 102.26 on Tuesday. Workday stock is up 80% in the past year. Workday’s cloud product has fueled fast growth
First Solar, the No. 2 company by market cap in IBD’s No. 1-ranked industry group, saw its stock get burned after hours Tuesday, after the company posted Q4 earnings and revenue that missed views, as did its sales guidance. The solar panel maker’s stock was down 12% after its results, a day after the No. 1 company in that group, SolarCity (SCTY), also fell after hours when it surprised investors with word that it would delay its full earnings
Software-defined networking is moving to the big bucks stage. Annual global spending by Internet, telecom and other service providers on SDN systems — where software takes a more prominent role in network management — will soar above $15 billion in 2018, with a compounded annual growth rate above 90%, says a new study. The findings by ACG Research, released last month, track above two separate estimates of SDN spending by the other main buyers of