Talkin’ Cloud Stock Index Flat for Week Ending Feb. 18
The Talkin’ Cloud Stock Index rose swiftly during the first few weeks of 2011. But for the week ending February 18, the index was essentially flat (down 0.01%) despite some strong gains from companies like Intuit and Concur Technologies. The index is still up an impressive 15.57% for the year. But we’re wondering if cloud computing stocks are finally set to take a breather.
Before we get into the list of the winners and losers for the week ending February 18, 2011, our standard warning: Talkin’ Cloud doesn’t offer specific financial advice, and whether you buy, sell, or hold is up to you and you alone. The Talkin’ Cloud Stock Index is just to measure real-world cloud performance against cloud hype.
- Financial cloud software developer Intuit (INTU) led the pack with a strong 6.89% gain, bringing them to $54.11/share by the closing bell on Feb. 18. Leading the charge was a strong FY 2011 Q2 financial statement, with an even rosier outlook for the third quarter. We hope to catch up with Intuit at this week’s Parallels Summit in Orlando, Fla.
- Concur Technologies (CNQR), developer of SaaS employee spend management tools, got their own boost of 5.06% to $53.15 per share on the news that recent acquisition TripIt will be their software’s mobile gateway of choice. Apparently, putting TripIt in the spotlight boosted investor confidence in the wisdom of the deal.
- Finally, e-mail marketing specialist Constant Contact (CTCT) had a good week, hitting a new 52-week high on Friday the 18th of $32.39 a share before dipping back down to $30.74 by the market’s close. Overall, that 4.91% boost seems attributable to excitement around Constant Contact’s decision to buy social CRM developer Bantam Live for $15 million.
…And The Losers
- Vocus (VOCS) makes a repeat performance as loser of the week with a 7.85% dip to $24.40 a share. Even stranger, no one seems to be sure exactly what’s going on with Vocus stock, with at least one analyst filing their recent trades as “unusual.”
- Rackspace Hosting (RAX) fell 4.04% percent to $38.45. But it’s most likely due to a combination of the market correcting after a huge 11% boost last week and Rackspace COO Mark Roenigk selling off 11,888 shares. Both are common occurrences and neither is especially worry-inducing.
- Similarly, cloud infrastructure provider Savvis (SVVS) dropped 3.92% after picking up 10% last week. Though there’s some buzz that the Savvis dip was caused by a block trade.
That’s all for this week. We’ll update the index again after the U.S. closing bell on Friday, Feb. 25.