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Cloud Stocks Continue Weekly Winning Streak
Matthew Weinberger
December 12, 2010
2 Min Read
Talkin Cloud Stock Index Winners
The Talkin’ Cloud Stock Index continues to climb. Indeed, cloud computing stocks gained 2.88% for the week ending December 10, 2010, and our index is up roughly 50 percent so far this year. Of the 20 companies we’re tracking, only 6 suffered weekly declines. The big weekly winners were Kenexa and Constant Contact; the biggest one-week decliner was NetSuite. Here’s the update.Kenexa (KNXA, up 14.83% on the week) shares are now trading near their 52-week high. The HR specialist has completed the Salary.com buyout and investors seem to be applauding the deal.
Meanwhile, momentum at Constant Contact (CTCT, up 10.69% on the week) can at least partially be attributed to chatter around the expansion of its channel partner program, expected to spur SMB sales in new markets and areas.
Also of note: Salesforce.com shares rallied (CRM, up 4.06%) amid the very successful DreamForce conference in San Francisco, which attracted more than 23,000 guests.
It’s harder to pin down why NetSuite shares fell nearly 5%. NetSuite President and CEO and other company insiders have been selling NetSuite shares in recent weeks — though that’s hardly unusual for high-tech company leaderships who are heavily vested in a company.
As a quick reminder, the Talkin’ Cloud Stock Index doesn’t give specific stock advice: We don’t give buy, sell or hold recommendations. Rather, we’re interested in tracking the cloud’s progress and comparing hype vs. actual performance. We update the index each weekend after U.S. markets close each Friday.
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