Oppenheimer: Infrastructure Software Weekly Review

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Oppenheimer says, “For the week, our universe delivered an average price gain of 4%, leaving the group up 1% on a year-to-date basis and bringing the 12-month gain to 20%. This compares to +4%, 0% and +15%, respectively, for the NASDAQ. For the week, DOX trailed the group, delivering a 4% decline, and NSTC led gainers with 12% rise.” “DOX’s F3Q10 revenue was shy the consensus due to FX headwinds; EPS beat the consensus, driven by improved operating margins and a lower share count. Weakness in Europe (10% of revenue) penalized results…. CA delivered healthy June results, with both EPS and revenue beating consensus. CA raised the top end of its FY11 EPS guidance,” the analysts mention. Oppenheimer adds, “CHKP reported strong 2Q10 results. We continue to be impressed by CHKP's execution across geographies and products…. VMW reported strong 2Q results (and upped guidance) with upside on top/bottom line across all geographies… On 7/19, VRNT and CMVT announced that they are are set to register 2.8M VRNT shares held by CMVT. CMVT currently owns ~66% of VRNT shares and will maintain 51% post the transaction… SY's Acquisition by SAP Gains EU Regulatory Approval; SAP's tender extended until 7/26. On 7/19/10, SY announced strong 2Q10 results. Positive implications for SVR.”
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