SOURCE: The Bedford Report

The Bedford Report

August 31, 2010 09:30 ET

Analyst Reports on salesforce.com & Intuit - M&A Activity in the Tech Sector Heats Up

Note to Editors: The Following Is an Investment Opinion Being Issued by The Bedford Report.

TORONTO--(Marketwire - August 31, 2010) -  The Bedford Report analyst team is looking at the Application Software Industry and has issued Analyst Reports on salesforce.com, inc. (NYSE: CRM) and Intuit Inc. (NYSE: INTU). Access to the full company reports can be found at www.bedfordreport.com.

In recent months the Technology Sector has become a hotbed of Merger and Acquisition activity. As companies get larger and experience diminishing returns in their core business, they are showing their willingness to utilize their large resource pools to acquire smaller companies in a race to diversify themselves. Given the limited opportunities for meaningful acquisitions, the companies in stronger financial positions, and the willingness to act, stand to gain the most from such activities.

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On August 19 salesforce.com reported fourth quarter Earnings per Share of $0.11 on Revenue of $394 million. Excluding onetime items the Earnings per Share would come in at $0.29. Looking forward the company issued guidance calling for Earnings per Share of 31 to 33 cents a share. Also releasing financial results on August 19 was Intuit. The company reported that Earnings per Share was a loss of $0.15 on Revenues of $537 million, beating analyst predictions. Looking forward the company issued guidance calling for a loss of 11 to 13 cents a share for its next quarter.

Investors can get copies of the full analyst reports on salesforce.com and Intuit by registering for free at www.bedfordreport.com.

The Bedford Report has not been compensated by any of the above mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: http://www.bedfordreport.com/disclaimer.php

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