Diamonds and Dogs


SAAS is playing NICE. Cloud software and networking company,  inContact (SAAS) jumped over 50% today after agreeing to be acquired by Nice Systems (NICE) for $14 in cash per share or $940 million. Nice Systems' stock jumped as well, up 4% on the news so it looks like Wall Street likes this cloud computing merger. So many good things are happening in the clouds.

Today's dog missed the dart board completely. The 6th largest merchandise store company, Target (TGT) saw their shares drop over 7% on a cautious outlook. The company released their first quarter earnings report which beat EPS expectations and grew 16.5% year-over-year, but on the negative side their total sales declined by 5.4% during the quarter from the prior period and missed analyst expectations. The company expects price discounting to intensify as retailers try to shed excess inventory after a slow season. Target also said apparel sales rose during the quarter and were stronger than other retailers', but unseasonable weather hurt demand. That darn weather.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.