Here are some things going on today in your world of tech :
Among yesterday's earnings reports, Talend (TLND), the cloud software maker, is up $3.37 or almost 9%, at $41.64, holding onto a chunk of its after-hours gains following its in-line revenue report but better-than-expected quarterly and year outlook.
Edward Parker of BTIG Research, who has a Buy rating on the shares, and a $52 price target, writes that the big news was a "billings boom " in the quarter, with billings of $62.1 million topping his $46.3 million.
That was "partially inflated due to higher than usual pre-billed duration," he observes, but nevertheless, "the metric's strength can't be ignored and is evidence of both solid renewals and new business in the quarter."
Other names rising include Hubspot (HUBS), with price targets going up after its own beat yesterday, and Twilio (TWLO), up $4.94, or almost 19%, at $31.38, following yesterday afternoon's higher report and outlook.
Price targets seem to be mostly staying put for Twilio. Canaccord Genuity's Richard Davis, reiterating his Buy rating, and $38 price target, writes that there are three takeaways: growth among "bread-and-butter customers" remains "robust," the forecast leaves room for "upside" this year, and the installation of several new executives in "key seats" means the company is "ready for the next leg of its go-to- market evolution," which could in turn bring more enterprise adoption of its product.
Following Apple's (AAPL) annual shareholder meeting yesterday, at which no light was shed on the company's plans for stepped-up capital returns. UBS's Steve Milunovich today takes a crack at it, pondering multiple scenarios.
He sees some potential fusion of Apple buying back 10% of shares per year, and/or doubling its dividend to $60 billion.
Don't hold your breath, he writes, for big M&A, nor for a special dividend, writes Milunovich, with CEO Tim Cook having expressed his lack of interest in the latter.
Apple shares today are up $1.22, or 0.8%, at $165.56.
Shares of Western Digital (WDC) are down 17 cents, at $82.80, after the company yesterday announced a move to reduce its debt pile, completing a cash tender offer for senior notes.
Cowen & Co.'s Karl Ackerman reiterates an Outperform on Western shares today, writing the $1 billion reduction in debt is small, but "the real story to be told here is the ~50% reduction in annualized interest costs by driving interest toward $350MM/yr."
Ackerman thinks Western will "eschew any meaningful share buybacks" till it's gotten leverage way down, perhaps to less than 1 times forward 12-month Ebitda, he reckons.
Shares of upstart database provider MongoDB (MDB) are up $1.59, or 5.6%, at $29.74, after Needham & Co.' s Jack Andrews raised his rating on the show from Hold to Buy, with a $34 price target, writing that his reservations about the company's fundamentals and pricey valuation have been allayed as his latest research shows the company's technology is "easier to scale than we originally envisioned."
In addition, there's a "tactical" window to buying IPO shares after the offering, which is 6 to 10 months later, Andrews writes. Since MongoDB went public four months ago, he reckons you should start buying now.
Shares of fiber-optic component suppliers Acacia Communications (ACIA) and II-VI (IIVI) are both higher following the positive initiation of both stock by Piper Jaffray's Troy Jensenlate yesterday.
Acacia is up 34 cents, or 0.9%, at $38.55, while II-VI is up $2.30, or 6%, at $39.45.
Bad news for the National Football League, according to Brian Nowak of Morgan Stanley : Big Tech doesn't want sports rights as much as you think.
Reviewing bidding for Thursday Night Football, as well as broadcast rights for the English Premiere League, he writes "consensus view is Big Tech will spend, perhaps irrationally, to buy into sports."
"However, the NFL's Thursday Night Football and English Premier League auctions results suggest maybe not. The results saw status quo distribution, incumbent bids down, and EPL seeing no major inflation."
After the bell this afternoon is Cisco Systems (CSCO) with its fiscal Q2 report. The shares are currently up 58 cents, or 1.4%, at $41.81.