Cloud stocks jump on SAP bid for SuccessFactors |
Reuters - Dec 5, 2011 |
Stocks of several cloud-computing companies rose on Monday, after German software giant SAP offered to buy Web-based software maker SuccessFactors at a high premium on Friday.
Shares of SuccessFactor's closest rival Taleo jumped by a fifth to a life-high of $39.92 in early morning trade on Nasdaq.
BMO Capital raised its rating on Taleo to "outperform" from "market perform" on Monday.
"The cloud software sector is being consolidated faster than we were expecting, and most investors will likely conclude that Taleo is the most obvious acquisition candidate and that Oracle is the most obvious buyer," it said in a research note.
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- Posted: 2011-12-05 13:05:52
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