The "cloud wars" sounds like the next film from Michael Bay or George Lucas, but it actually refers to the massive rush to house data on the web, where it can be accessed anywhere.
And while the big web services companies are the first to come to mind, the cloud wars are actually reaching much further.
Cloud human capital management (HCM) and financials software leader Workday Inc. (WDAY) and cloud content management software provider Box Inc. (BOX) have served up the latest evidence. Cloud CRM software leader Salesforce.com Inc. (CRM) , meanwhile, has made fresh highs since posting its July quarter report on Aug. 22.
But not every competitor can be a winner. Veeva Systems Inc. (VEEV) , the top provider of CRM and content-management software to life sciences firms, wasn't as fortunate as those cited above during the second quarter. Its shares tumbled last week, as markets decided a July quarter sales/EPS beat and strong guidance weren't good enough. Still, shares have recovered some of their losses since, and remain up 46% on the year. Frankly, with more and more data moving to the cloud, and the continued evolution of the internet of things, it's hard to think that these companies won't continue to grow. Hell, even Veeva, a clear loser in the second quarter, is up almost 50% year-to-date.
From sky-high valuations for cloud computing companies we head to a battered and beaten down industry: retail.
Staples Inc. (SPLS) , set to be acquired by private equity firm Sycamore Partners for $6.9 billion after a failed deal with Office Depot (ODP) , is highlighting its business-to-business operations as consumers increasingly eschew big brick-and-mortar retailers in favor of online shopping. Back-to-school is still one of Staples' most important shopping seasons, however, and with the company's 110% Price Match Guarantee, it's staying competitive with Amazon.
Photo of the day: A travel revolution
Happy Labor Day weekend! Ride sharing companies like Uber Technologies and Lyft have changed the way people worldwide approach transportation. Traditional automakers, along with rental car services, are now faced with a revolutionary challenge that some argue could cripple their businesses forever. Despite what seems like a never-ending flow of adverse news, Uber said that in the second-quarter of 2017 it narrowed its losses by nearly 9%, while bookings, trips, and revenue continued to climb year-over-year. One sector poised for a lengthy battle with the ride-sharing companies are the rental car services. Avis Budget Group Inc. (CAR) and Hertz Global Holdings Inc. (HTZ) have both been negatively affected by the new car services phenomena. The days of waiting in an airport lobby for your rental car may be coming to an end.
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