Cloud Stocks Climb 8 Percent Amid Broader Stock Market Gains
The Talkin’ Cloud Stocks Index, like the broader stock market, saw healthy gains for the week ending October 28, 2011. Indeed, the Talkin’ Cloud Stocks Index rose more than 8 percent during the week; only two index members — Amazon and Athenahealth — saw their share prices drop during the week. The Talkin’ Cloud Stocks index is now up 15.57 percent so far this year.
As always, let’s go over some boilerplate before jumping into a closer look at the weekly winners and losers. We maintain the Talkin’ Cloud Stocks Index to offer a reality check vs. cloud computing hype. We don’t offer specific financial advice, and whether you buy, sell, or hold is up to you and you alone.
Three Weekly Winners
- RightNow Technologies (RNOW) took the gold medal last week with a big incredible 19.86 percent gain to $43.10 per share. The reason: Oracle is buying the company.
- The second biggest weekly gainer was talent management service provider Taleo (TLEO); shares jumped 14.95 percent boost to $33.68 amid analyst optimism. Apparently, the wizards of high finance see a bright future for this SaaS provider.
- Citrix (CTXS) delivered a 13.86 percent weekly gain to $73.37 per share. Apparently, analysts and investors alike were both pleased with the virtualization provider’s most recent quarterly results, which has it beating Wall Street’s guidance.
Two Weekly Losers
- Amazon.com (AMZN) dipped 7.44 percent to $217.32 per shareo during the week after its somewhat disappointing Q3 results. But the dip had little to do with Amazon.com’s Web Services. Instead, most investors are asking questions about Amazon’s Kindle e-reader line.
- Meanwhile, Athenahealth, Inc. (ATHN) dipped to $53.43 per share, an 8.98 weekly percent drop. Apparently, analysts don’t believe it can keep up its notable winning streak and are advising investors to diversify while the getting’s good.