Cloud Stocks Rise Despite European Debt Fears
It’s another one of those weeks: The Talkin’ Cloud Stocks Index rose 1.69 percent for the week ending February 10, 2012. Not bad, considering fears about Greece and the European sovereign-debt crisis caused the Dow to slip 89 points in a single day (for an overall 0.5 percent loss for the week), while NASDAQ tumbled 0.8 percent – so maybe any kind of cloud stocks rally gain is a significant victory.
Before we take a look at a few winners and losers, it’s our standard disclaimer. We only maintain the Talkin’ Cloud Stocks Index to match cloud hype against real-world performance. We don’t offer specific financial advice, and whether you buy, sell or hold is up to you and you alone.
If you’ve been following the cloud news this week, you can probably guess the week’s biggest Wall Street winner. Fresh off its acquisition by Oracle, talent management solution provider Taleo (TLEO) saw its stock price soar 19.35 percent to $45.65. In a far second, infrastructure management solution vendor SolarWinds (SWI) saw its own boost of 7.59 percent to $37.29/share after issuing first quarter and FY 2012 guidance that beat analyst expectations.
As for losers, there’s really only one I wanted to single out. NetSuite (N) was unable to keep its super-solid momentum from last week’s financials going, and slipped 4.88 percent to $45.40/share.
And that’s that. The Talkin’ Cloud Stocks Index is up an overall 16.29 percent since January 1 — a huge rally. Hope springs eternal, so come back next week to see if maybe that figure will go above 20 percent.