OpenText slammed after restructuring announcement

Open Text CEO Mark Barrenechea. PI analyst Pardeep Sangha regards Open Text's Q3 as only "slightly positive". Although the company beat consensus estimates, he says, its decline in licensing revenue is troubling.

Shares of OpenText (TSX:OTC) are getting hit today after the company announced a comprehensive restructuring that will reduce the size of its workforce by five per cent. CEO Mark Barrenechea, whom the company also announced is returning to work after leaving for leukemia treatment, said the move would not impact the Waterloo-based company’s topline. “Effective […]

BlackBerry stirs nationalism debate in Ontario Legislature

Kitchener-Conestoga MPP Michael Harris.

“If he’s upset because he can’t get Snapchat on his BlackBerry, frankly he can get his own device and pay for it with his own money.” Those were the words of Conservative Kitchener-Conestoga MPP Michael Harris yesterday, after a petition circled the Ontario legislature that would allow for members to be issued smartphones other than […]

Sandvine rises after reporting tenth consecutive profitable quarter

Cormark analyst Richard Tse says that, following a year in which it struggled though partner changes and product revisions, Sandvine is finally hitting its stride.

Shares of Sandvine (TSX:SVC) are up today after the company reported better than expected first quarter numbers. Sandvine earned (U.S.) $10.2-million on revenue of $32.4-million in its Q1, 2015, up from $7.5-million in earnings on a $31.5-million topline in the same period a year prior. “I’m pleased to have a strong start to the year. […]

Descartes could transition to larger acquisitions, says CEO Ed Ryan

Descartes CEO Ed Ryan.

Waterloo’s Descartes Systems Group (TSX:DSG, Nasdaq:DSGX) is a serial acquirer of smaller companies, but the firm could soon make a big pickup, says its CEO. Ed Ryan, CEO of Descartes Systems Group was on BNN yesterday to talk about the company’s fiscal 2015 and beyond. On Thursday, Descartes reported its fiscal 2015 results. The company […]

OpenText wins minor settlement in Box infringement case

Box CEO Aaron Levie.

OpenText (TSX:OTC) today announced that a San Francisco Federal Court jury found that both Box Inc. and Carahsoft Technology Corp infringed on its patents. The court awarded the Waterloo-based company a settlement of less than $5-million. “We are pleased the jury has vindicated Open Text’s position that the three file synchronization/edit patents were both infringed […]

OpenText is ready for more M&A, says Cormark

open-text-headquarters

Organic growth offers the potential to drive OpenText (TSX:OTC, Nasdaq:OTEX) higher, but acquisitions represent the core of its upside, says Cormark analyst Richard Tse. (All figures in U.S. dollars) OpenText will report its 2015 second quarter financial results after the close on January 27th. Tse says he expects the company will generate operating EPS of […]

Descartes Systems Group gets price target raise at Cantor Fitzgerald

descartes-systems-group-head-office

A “strong” quarter has Cantor Fitzgerald Canada analyst Justin Kew feeling a little more bullish about Waterloo’s Descartes Systems Group (TSX:DSG, Nasdaq:DSGX). Yesterday, Descartes reported its Q3, 2015 results. The company earned (U.S.) $4.15-million on revenue of $43.1-million, up 11% from the $38.8-million topline the company posted in last year’s third quarter. “We’re pleased that […]