Diamonds and Dogs
A good day at Workday Inc. (WDAY). The HR software company is up 12% to a new all-time high following better than expected earnings. Workday easily beat estimates by 17 cents as sales rose 33.8% to $743.2 million ahead of estimates. Subscription revenue backlog grew 31% to $5.9 Billion. Workday also raised 2019 subscription revenues to the range of $2.375-2.377 billion from $2.341-2.348 billion. Plenty of upgrades with price targets as high as $185 a share.
A security breach inside Marriott's worldwide hotel empire (MAR). Marriott's stock is down 5% not far from a 52 week low after hackers gained access to as many as 500 million guests, exposing in some cases credit card numbers, passport numbers and birthdates. This may be among the largest data breaches on record. Last year's alarming Equifax hack affected more than 145 million people. The affected hotel brands are operated by Starwood which Marriott acquired in 2016. None of the Marriott-branded chains are threatened.
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