Taleo Corp. (TLEO) Shares Rally after SAP acquires Rival SuccessFactors
The rally in Taleo shares has been sparked by rival SuccessFactors Inc.’s (NYSE: SFSF). Earlier today, German business software giant agreed to acquire SuccessFactors for $40 per share in an all cash transaction. The acquisition of SuccessFactors has fueled speculation that Taleo could also be a takeover target.
According to BMO Capital Markets analyst Karl Keirstead, the cloud software sector is being consolidated faster than anticipated and in BMO’s view, most investors will likely conclude that Taleo is the most obvious acquisition candidate and that Oracle Corp. (NASDAQ: ORCL), which is SAP’s rival, is the most obvious buyer.
Keirstead also raised his rating on Taleo shares from Market Perform to Outperform.
- This newsletter has been helping traders make a killing on TLEO. Click here for a 25% discount offer.
- See today’s top stock picks and market analysis
- Need fast service and cheap rates from a broker? Buy stock online at my favorite brokerage
- Want more? Check out the message board buzz for TLEO
- See what newsletters are recommending this stock pick
- Get breakingRead more here
More Posts by this author
Taleo Corp. (TLEO) Shares Rally after SAP acquires Rival SuccessFactors
Taleo Corp. (TLEO) Shares Rally after SAP acquires Rival SuccessFactors
Western Digital Corp. (WDC) Shares Rise after Company Updates Q4 Outlook; Reports on Recovery Effort in Thailand
Google’s Android Gains Smartphone Market Share in Q3 (GOOG)
Cisco Systems Inc.
Kohl’s Corp. (KSS) to Release Q3 financial results
. Post Written By: Quote com
