Cloud Stocks Rise on Athenahealth Quarterly Results
The Talkin’ Cloud Stock Index, which tracks 20 cloud computing stocks, rose 1.10 percent for the week ending July 22, 2011. The biggest weekly winner was Athenahealth (ATHN), which reported strong quarterly results. Here’s a closer look at cloud computing stocks and their weekly performance.
But before we do, let’s go over our standard disclaimer: We maintain the Talkin’ Cloud Stock Index to track cloud hype against real-world financial performance. We don’t offer specific financial advice, nor do we offer buy, sell or hold recommendations.
- Athenahealth (ATHN) delivered a very strong Q2 2011 financial report. Shares in the healthcare SaaS developer rose a whopping 22.80 percent for the week ending July 22. Before the closing bell, ATHN even hit a new 52-week high of $59.70.
- VMware (VMW) rose 3.94% for the week ending July 22. The company delivered a record Q2 earnings statement, despite virtualization competition from Citrix Systems, Microsoft Hyper-V and Red Hat Enterprise Virtualization (RHEV).
The Weekly Loser
- NetSuite (N), by contrast, slipped 6.20 percent for the week ending July 22. There was no major news from the company to explain the dip. NetSuite CEO Zachary Nelson recently sold off 5,000 shares. But it’s common for CEOs to sell some shares to diversify their financial holdings.
Meanwhile, most of the other index members rose or fell by no more than a percent or two for the week ending July 22. Overall, the Talkin’ Cloud Stock Index is up 14.30 percent since the start of 2011. We will update the Talkin Cloud’ Stock Index again after the market closes on Friday, July 31.