Cloud Stocks Rise 1 Percent for Week Ending Nov. 4, 2011
The 20 publicly-held cloud and SaaS providers that make up the Talkin’ Cloud Stocks Index rose nearly one percent for the week ending November 4, 2011. Overall, the Talkin’ Cloud Stocks Index is up a healthy 16.72 percent so far in 2011.
Before we take a look at a pair each of the big winners and losers, it’s our standard warning: We maintain the Talkin’ Cloud Stocks Index to track cloud computing trends and real-world financials from cloud computing companies. We don’t make any specific financial recommendations, and whether you buy, sell or hold is up to you and you alone.
Two Weekly Winners
- Constant Contact (CTCT) was far and away the big winner of the week. The SaaS e-mail marketing specialist posted strong Q3 results (CTCT experienced 20% boost in revenue quarter over quarter, apparently). That information lifted Constant Contact shares 12.05 percent for the week.
- Right behind was Athenahealth (ATHN). Shares rose 8.37 percent for week amid a strategic partnership with Medley Health. Athenahealth’s still not trading up to its 52-week high of $72.70, but shares are up 40 percent year-to-date, behind only NetSuite (N) on the Talkin’ Cloud Stocks Index in that particular race.
A Pair of Weekly Losers
- Newer index member Carbonite (CARB) fell 12.18 percent on the week amid chatter about a possible security breach and the transitioning of customer service operations back to US employees. We’re a US-based media site so we’re pleased to see US-based jobs being created. But we wonder if investors are worried about US-based support costs for Carbonite.
- The second biggest weekly loser was Salesforce.com (CRM), which experienced a 5.61 percent overall dip on the week. It looks like that drop was precipitated by Salesforce CFO Graham Smith selling 4,000 shares in the company — though we are not suggesting that such a sale is anything more than an insider diversifying his assets.