Diamonds and Dogs
3/22/13TIBCO Software Inc. (TIBX)
TIBCO Software is trading in the red today, as they are currently at $19.70, which is down 15%. This cloud platform provider's fiscal first-quarter earnings also dropped 54%, "primarily on execution-related" problems. CEO, Vivek Ranadive, believes the problems at TIBCO may have been concentrated in the finance sector, where sales were down 8% from a year ago, compared with increases in most other sectors. Managers reviewing performance in weak sectors found "bad leadership and bad execution in those areas," Mr. Ranadive said. TIBCO is currently trading towards the bottom of its 52-week range of $18.95-$34.67.
Nike Inc. (NKE)
Nike is running wild today as they are experiencing all-time highs. They've seen their stocks rise around 12% in early trading today, with a current price of $59.92 midday today. Nike apparel jumped 55% for the fiscal third quarter, the company reported, sending its stocks soaring over 10% in the market; an unexpected gross margin gain and the sale of the Cole Haan brand were cited as the backbone to the company's strong performance. North American sales surged 18%, and notably picked up in Europe as well, despite economic headwinds. This strong performance in the western regions helped offset declines in Asia, notably in China and Japan.
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