NetServices share price takes an early bath
638101
Reviving the 10 per cent club? NetServices has seen its share price tumble after it warned that full-year losses would be higher than expected.â¦
227830
NetSuite&#39;s initial public offering raised $185.4 million, close to double the amount the company originally forecast the IPO would generate and a positive sign for the market of hosted, software-as-a-service business applications.NetSuite, a provider of hosted applications for small and midsize organizations, sold 6.2 million shares of common stock at $26 per share via auction and its underwriters acted on their option to buy an additional 930,000 shares, the company said Wednesday.The $185.4 million is a gross amount from which underwriting discounts and expenses will be deducted, the company said. Moreover, 365,000 of the shares bought by the underwriters were owned by stockholders like NetSuite&#39;s CEO and chief technology officer, so the proceeds from those shares -- about $9.5 million -- won&#39;t go to the company.In the final IPO prospectus, NetSuite had estimated that, if the underwriters exercised their option in full -- as they did -- NetSuite&#39;s IPO net proceeds would be approximately $161.9 million.NetSuite initially set a range of $13 to $16 per share for its IPO but subsequently raised it and eventually set the price at $26 per share on Thursday of last week, the day when the stock started trading on the New York Stock Exchange under the &quot;N&quot; symbol.At midmorning Wednesday, the stock was trading at $34.85, down about 10 percent from its previous close. Its highest point so far is $45.98.Incorporated in 1998, NetSuite sells ERP (enterprise resource planning), CRM (customer relationship management) and e-commerce applications on a hosted, subscription-based model, in which customers access the software via the Internet and don&#39;t need to install it on their premises.This software-as-a-service model, championed by companies like Salesforce.com and Google, is considered a significant threat to the traditional approach from vendors like Microsoft of having customers implement software on their own PCs and servers.As of Sept. 30 of this year, NetSuite had over 5,400 active customers, according to its IPO prospectus . In 2006, the company had revenue of $67.2 million and a net loss of $35.7 million. In the first nine months of this year, it generated $76.8 million in revenue and racked up a net loss of $20.6 million, according to the prospectus.NetSuite plans to use its IPO proceeds to pay off an $8 million balance on a line of credit with Tako Ventures, an entity controlled by Oracle CEO Larry Ellison, and to possibly make acquisitions.As of Nov. 30, Ellison controlled about 60 percent of NetSuite&#39;s outstanding stock -- some 31.9 million shares -- but Ellison transferred those shares into a holding company, NetSuite Restricted Holdings. The move is meant to &quot;effectively eliminate&quot; Ellison&#39;s voting power and avoid potential conflicts of interests, according to the prospectus.NetSuite also plans to devote between $10 million and $15 million for capital expenditures, including the purchase of property, plant and equipment and the addition of a second data-center facility, and for working capital and other general purposes, including its international expansion. NetSuite currently provides its hosted applications out of a single data center, which the company admits in the prospectus is a risk that could harm its business should there be any service disruption at this facility.NetSuite also said it may use a portion of the net proceeds to acquire other businesses, products or technologies, although it doesn&#39;t have any agreements or commitments for any specific acquisitions at the moment. The money it doesn&#39;t spend will be invested in short-term, interest-bearing investment grade securities.&#160;
569447
By Bruce V. Bigelow, The San Diego Union-Tribune  Jan. 31--The price of Websense shares dropped nearly 13 percent in  after-hours trading yesterday, after the San Diego Internet company posted  lower-than-expected financial results for the last three months of 2006.
119748
Clearwire Corp is expected to float on the US market today, executing its IPO despite last week's market slump. The WiMax service provider is a rare example of a telecom IPO, and clearly hopes to not flame out as badly as the last big one - Vonage.
446026
NetSuite announced plans for an initial public offering, which observers say could be a milestone for the software-as-a-service business.
702463
The company's stock is up on settlement news, but buyers should beware.
555133
Internet data analysis company WebSideStory Inc. cut its expected initial public offering price to $8 to $9 a share from $10 to $12, it said in a regulatory filing Wednesday.
294610
The stock is revived, but the business remains iffy.
276125
InfoWorld - Microsoft's $1.2 billion acquisition bid for Oslo-based Fast Search and Transfer and a dour report on Amazon marked the new year's first full trading week in the United States, as technology company share prices continued to slide.
51136
Stock prices are gaining some ground in early trading. The Dow Jones Industrial Average is up 23 points in today&#39;s early going.
547667
Microsoft&#39;s $1.2 billion acquisition bid for Oslo-based Fast Search and Transfer and a dour report on Amazon marked the new year&#39;s first full trading week in the United States, as technology company share prices continued to slide.The increase in tech share prices that occurred in 2007 -- a banner year for IT company earnings -- appears to be in danger of evaporating, as fears of a general downturn and bad news on the consumer front resound among industry insiders. U.S. Federal Reserve Chief Ben Bernanke&#39;s announcement on Thursday that he would move to cut interest rates to spur growth provided only a temporary halt to a decline in the Nasdaq Composite Index, which closed Friday at 2,440, down 212 points from its close at the end of 2007.This week, investment banking firm Goldman Sachs forecast that the United States will suffer a recession this year. Company analyst David Kostin reduced his recommendation for the amount of technology stocks that investors should keep in their portfolios, from 19 percent to 15 percent.Investors usually like to keep a good percentage of their holdings in tech stocks to hedge their bets. IT companies are truly global, with major U.S. vendors earning about 50 percent of their revenue outside their home countries.But inside the United States, tech companies are getting hit with a double whammy: a predicted weakening of consumer spending because of falling home prices and a resulting crisis in financial markets. Up to 18 percent of U.S. and global tech spending comes from financial companies, according to Forrester Research.Turmoil in the financial markets will likely dampen tech buyouts from private equity investors, according to the 451 Group&#39;s Tech Banking Outlook Survey, released this week. But that might not stop cash-rich technology companies from continuing to shop for deals, it noted.On Tuesday,&#160;Microsoft announced that it would buy enterprise search software company Fast Search And Transfer&#160;for 6.6 billion Norwegian kroner ($1.2 billion). Microsoft said it will integrate Fast Search&#39;s high-end search technologies into its enterprise infrastructure offerings, including SharePoint Server 2007 business productivity platform.Microsoft is locked in a search battle with Google, not just for general Web searches but also for businesses. Fast Search shares got an immediate boost on the Oslo exchange, where its price jumped from 13.35 kroner to close at 18.80 kroner Tuesday. The deal did not keep Microsoft shares from sliding in a generally down market for tech, however.On the consumer side, investors were particularly spooked by comments on Tuesday from AT&amp;T CEO Randall Stephenson, who said the company has had to stop servicing an increasing number of customers who did not pay their bills. The company closed Tuesday at $39.07, down by $1.96 for the day.The news did not bode well for other technology companies that sell to consumers. Citing uncertainty about U.S. consumer spending, American Technology Research Monday put a &quot;sell&quot; rating on Amazon, which then on Tuesday fell by $2.66 to close at $85.22 on the Nasdaq.Even companies that received positive reports from analysts this week were slammed by the general market slide. Lazard Capital Markets started its coverage of virtualization-software darling VMware, which had a successful IPO last month, by issuing a &quot;buy&quot; rating on Tuesday. VMware&#39;s share price jumped by $5.39 to close at $79.89 Wednesday, but slid back to $77.53 by the end of the week.
614695
San Diego video-compression company, which has posted profits, sets share price for public offering at $12 to $14.
388959
NetSuite on Wednesday set the initial price of its stock at $26, greatly exceeding its original estimate.
376025
BEA Systems&#39; board of directors has named an acquisition price to competitor and suitor Oracle: $21 a share, $4 more than Oracle&#39;s initial offer.&quot;We continue to believe that&#160;Oracle&#39;s unsolicited proposal to acquire BEA&#160;at $17.00 per share significantly&#160;undervalues BEA, and is therefore not in the best interests of BEA shareholders,&quot; the company said in a statement Thursday.Oracle on Tuesday set a deadline&#160;of Sunday for BEA to accept its &quot;generous&quot; original bid, which totals about $6.7 billion. The company also indicated it had no interest in a protracted merger battle.But BEA declared Thursday that the company&#39;s existing assets and future business prospects dictate a significantly higher sale price. The company said it has customers for its array of enterprise software among 75 percent of the Fortune Global 500, along with $1 billion in cash reserves and no debt.BEA said it arrived at the $21-per-share figure after talking to its financial advisor, Goldman Sachs. The company said it has authorized its attorneys to give a draft merger agreement to third parties willing to meet the price. The agreement would &quot;provide for an appropriately high degree of certainty of closing,&quot; BEA said.A successful purchase of BEA would significantly increase Oracle&#39;s standing in the middleware space. While some BEA assets would help round out Oracle&#39;s offerings, the companies overlap in key categories like Web servers and ESB (enterprise service bus) products.
161694
Massive share buybacks can't quite counteract lagging net income.
755987
Black & Decker forecast earnings of $1.10 to $1.20 a share for the first quarter, while some analysts were expecting $1.40.
332497
Business & money: Shares in the internet company rise further after it says Â£21bn unsolicited offer is too low