Tag Archives: request

Oracle Expands Cloud-Based Utilities Push With Opower Acquisition

Oracle ( ORCL ) will pay $532 million to acquire Opower ( OPWR, ) a cloud-based software provider that says it’s used by 100 utility companies for meter reading services for homes and businesses. Opower says its Big Data platform stores and analyzes more than 600 billion meter reads from 60 million utility end-customers, enabling utilities to meet regulatory requirements, decrease the cost to serve, and improve customer satisfaction. Opower became a publicly traded company two years ago and reported revenue of $148.7 million in 2015, up 16%. Oracle will pay $10.30 per share in cash for Opower, which will be integrated into the Utilities Global Business Unit of Oracle. According to an Opower news release, it is a leading provider of “mission-critical cloud services to utilities.” The price represents a 30% premium to Opower’s Friday closing price of 7.90. Opower stock hasn’t traded above 10.30 since early this year. Its shares were up 31% in early trading in the stock market today , near 10.30. Oracle stock was up a fraction, near 40. The acquisition follows the $663 million deal last week that Oracle reached to acquire Textura ( TXTR ), a leading provider of construction contracts and payment management cloud services. Oracle will pay $26 per share in cash to acquire Textura, paying a 31% premium on that company’s stock.

Skyworks Growth Threatened By ‘Unfavorable’ Apple iPhone Comparison

Skyworks Solutions ( SWKS ) is “rebuilding” after Apple ‘s ( AAPL ) iPhone flop last quarter but is still looking at double-digit growth in the second half of 2016, MKM analyst Ian Ing wrote in a research note after Apple-supplier stocks broadly toppled last week, when the iPhone maker reported its first-ever year-over-year decline in smartphone sales. In early trading Monday, Skyworks stock was down a fraction, as were shares of radio-frequency chip rivals Broadcom ( AVGO ) and Qorvo ( QRVO ). In early trading on the stock market today , Apple stock was also down a fraction, near 93, and down 10.5% since reporting its March-quarter earnings after the close Tuesday. That day, Apple reported  not only its first-ever year-over-year drop in iPhone sales, but also its first quarterly revenue decrease in 13 years. Skyworks’ Q2 guidance , released late Thursday, slugged that stock when its sales view missed by $50 million. But after just 2% sales growth last quarter, Skyworks expects double-digit growth in September, though strength in China and with Samsung might not be enough to outweigh an “unfavorable” year-over-year iPhone comparison. Last September, Apple sold 13 million iPhone 6S units in three days following the release. Chinese smartphone-makers are facing a largely saturated market, Ing noted. About 45% of China’s mobile phones are on 4G now. Wall Street largely expects a pause as the industry transitions to 5G — but that refresh is still more than a year away. Ing retained his buy rating on Skyworks stock, but he cut the price target to 93 from 98. At least two other analysts rated Skyworks a buy over the weekend.

China’s Web Regulator To Probe Baidu On Medical Claim

China’s Internet regulator said it will probe Baidu ( BIDU ) over the death of a university student who had used the search engine to look for treatment for his cancer. The 21-year-old university student, Wei Zexi, died last month of a rare form of cancer, Reuters reported . Wei had posted criticism online accusing Baidu of promoting false medical information, as well as the hospital for misleading advertising in claiming a high success rate for the experimental treatment, state radio said. The company said it would fully cooperate. In 2010, China’s state-run television accused Baidu of promoting counterfeit drugs through its search engine. U.S. shares of Baidu were down 7.5% in early trading in the stock market today , near 179. Baidu stock broke out of a cup-with-handle base at 189.90 on March 29, but is now down nearly 6% from its breakout. On Friday, however, Baidu stock had touched a four-month intraday high of 201.