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Noticias de PRGS
Eventos de PRGS
Progress Expects Q3 Revenue to Exceed Guidance
The company said, "Based on currently available information, Progress anticipates revenue and non-GAAP earnings per share for its fiscal third quarter will be within or above the high end of previously issued guidance provided on June 30, 2026. The company will discuss full financial results of its third quarter on a conference call on September 30, 2026."
Progress Software to Acquire Domo Assets for $400M
Progress Software (PRGS) announced that it entered into an agreement to acquire substantially all of the assets and assume certain liabilities of Domo (DOMO), including its AI and data products platform. Domo will add a customer base of over 2,400 businesses, as well as a global and strategic ecosystem of cloud data warehouse technology partnerships. The transaction is structured as an asset purchase where Progress intends to acquire substantially all of the assets and assume certain liabilities of Domo for a cash purchase price of $400M. The acquisition is currently expected to close within Progress' fiscal year, ending November 30, subject to obtaining regulatory approvals and the satisfaction of other customary closing conditions as set forth in the definitive agreement. Progress expects to finance the transaction with a combination of cash and Progress' existing revolving credit facility.
Domo Acquired by Progress for $400 Million
Domo (DOMO) announced that its Board of Directors has unanimously approved a definitive agreement under which Progress Software Corporation (PRGS) will acquire substantially all of the assets and employees, excluding the Company's net operating loss carryforwards, and assume certain liabilities of the Company for $400 million in cash, subject to customary purchase price adjustments. At the closing of the transaction, the Company will have net cash of approximately $246 million, or $4.84 per share, representing an 81% premium to the 30-day volume weighted average price, as well as more than $900 million of NOL carryforwards. Following the closing of the transaction, Domo's operating business and platform will become part of Progress. Progress expects to continue serving Domo customers and supporting the Domo technology platform, while bringing additional scale, resources, and enterprise software expertise to its ongoing development. Until the transaction closes, Domo and Progress will continue to operate as separate companies, and Domo will continue to serve customers and operate in the ordinary course of business. After the closing of the transaction, Domo, Inc., the Delaware holding company, will change its name and ticker and remain a separate publicly-listed entity with limited operating expenses and a debt-free balance sheet. The Board intends to use the proceeds from the transaction to identify opportunities to monetize its NOLs. It will consider potential transactions where the company can employ its expertise in AI and automation to enhance profitability as well as options to return capital to shareholders. The Company will continue to be led by Founder and Chief Executive Officer Josh James and its Board of Directors. Under the terms of the definitive agreement, Progress will acquire substantially all of the assets and assume certain liabilities of Domo, Inc., including its operating business, technology platform, customer contracts, employees, intellectual property, vendor relationships, foreign subsidiaries, and other assets and obligations related to the business. Mr. James, as the Company's controlling shareholder, executed an irrevocable consent providing shareholder approval of the transaction. At closing of the transaction, Domo will pay off its existing credit facility in full. The transaction is expected to close prior to the end of the fiscal year for Progress (November 30, 2026), subject to the receipt of required regulatory approvals and other customary closing conditions. The transaction is not subject to a financing condition.
Markets Decline as Fed Rate Hike Expectations Weigh
The major averages closed lower as markets gauged the likelihood of a Fed rate hike this year and how much room is left on the AI trade. Markets kicked off the second half of 2026 with a bit of a cautious tone after a powerful second-quarter rally. Semiconductor names such as Micron, SanDisk, Nvidia, and Broadcom slid to start the quarter after their massive year-to-date rallies as investors took some profits and rotated to other areas.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nikereportedbut guided for Q1 revenue to declineBloombergthat Metais building a cloud business to sell access to AI computing, while NPR reported that Meta had explored buying prediction market app KalshiAlcoaSouth32'sbauxite, alumina, and aluminum assets for $4.1BKrogerGiant Eagle for $1.65BQualcommbriefly jumped after thethat SpaceXhas a prototype of a handset-like AI device, though Elon Musk called the report "utterly false," resulting in Qualcomm giving up the gains2. WALL STREET CALLS:GuggenheimSalesforce, ServiceNowand Check Pointto Buy, calling the fatal AI bear case on software a "hallucination"RBCDow Inc.to Sector Perform on falling polyethylene pricesWedbush sees SpaceXas "major hyperscaler,"coverage with an Outperform rating and $190 price targetLockheed Martinto Buy at CitiSimon Propertyto Peer Perform at Wolfe3. AROUND THE WEB:South Korea's antitrust regulator is alleging that Googleabused its dominant position in the Android app marketplace to restrict competition, affecting an estimated 14.16 trillion won in revenue and potentially resulting in corrective measures and financial penalties from the Korea Fair Trade Commission, Reuters saysCMA CGM is close to a deal to buy FedEx'sthird-party logistics business for $1.4B in cash, FT reportsParamount Skydancehas offered remedies to address EU concerns related to its acquisition of Warner Bros, Reuters saysOpenAI engineers earlier this month told some colleagues they had figured out a way to more than halve the cost of inference, The Information reportsMicrosoftintends to announce layoffs soon as it continues efforts to lower costs, Business Insider says4. MOVERS:Evolvincreases afterof its hardware and software subscription agreement with TD GardenDLocalgains in New York after UBSthe stock to Buy from NeutralGrindrhigher after Morgan Stanleythe stock to OverweightOptimumlower after its subsidiarypreliminary results of its tender offerShutterstockfalls after Getty Imageswith the company5. EARNINGS/GUIDANCE:General Millsreported, provided guidance for FY27, and said it is targeting $3B in cost savings by FY30FactSetand backed its guidance for FY26Genius Group, with revenue higher year-over-yearMSC Industrial, with EPS and revenue beating consensusProgress Software, provided guidance for Q3, and raised its outlook for FY26INDEXES:The Dow fell 13.96, or 0.027%, to 52,305.24, the Nasdaq lost 173.69, or 0.66%, to 26,040.03, and the S&P 500 declined 16.13, or 0.22%, to 7,483.23.
Markets Mixed as Semiconductor Stocks Slip
The major averages were mixed near noon as investors weigh renewed uncertainty in the Middle East against continued strength in the broader economy. Markets are starting the second half of 2026 with a bit of a cautious tone after a powerful second-quarter rally. Semiconductor names such as Micron, SanDisk, Nvidia, and Broadcom are slipping to start the quarter after their massive rallies year-to-date as investors look to take in some profits following strength in the sector.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Nikereportedbut guided for Q1 revenue to declineBloombergthat Metais building a cloud business to sell access to AI computing, while NPR reported that Meta had explored buying prediction market app KalshiAlcoaSouth32'sbauxite, alumina, and aluminum assets for $4.1BKrogerGiant Eagle for $1.65BGeneral Millsreported, provided guidance for FY27, and said it is targeting $3B in cost savings by FY302. WALL STREET CALLS:GuggenheimSalesforce, ServiceNowand Check Pointto Buy, calling the fatal AI bear case on software a "hallucination"RBCDow Inc.to Sector Perform on falling polyethylene pricesWedbush sees SpaceX as "major hyperscaler,"with an Outperform rating and $190 price targetLockheed Martinto Buy at CitiSimon Propertyto Peer Perform at Wolfe3. AROUND THE WEB:South Korea's antitrust regulator is alleging that Googleabused its dominant position in the Android app marketplace to restrict competition, affecting an estimated 14.16 trillion won in revenue and potentially resulting in corrective measures and financial penalties from the Korea Fair Trade Commission, Reuters saysCMA CGM is close to a deal to buy FedEx'sthird-party logistics business for $1.4B in cash, FT reportsParamount Skydancehas offered remedies to address EU concerns related to its acquisition of Warner Bros, Reuters saysOpenAI engineers earlier this month told some colleagues they had figured out a way to more than halve the cost of inference, The Information reportsMicrosoftintends to announce layoffs soon as it continues efforts to lower costs, Business Insider says4. MOVERS:Evolvincreases after announcing aof its hardware and software subscription agreement with TD GardenDLocalgains in New York after UBSthe stock to Buy from NeutralGrindrhigher after Morgan Stanleythe stock to OverweightOptimumlower after its subsidiary announced preliminary results of itsShutterstockfalls after Getty Imageswith the company5. EARNINGS/GUIDANCE:FactSetand backed its guidance for FY26Genius Group, with revenue higher year-over-yearMilestone Scientific, with CEO Eric Hines commenting, "We are highly encouraged by our preliminary second-quarter top-line results"MSC Industrial, with EPS and revenue beating consensusProgress Software, provided guidance for Q3, and raised its outlook for FY26INDEXES:Near midday, the Dow was up 0.59%, or 308.43, to 52,627.63, the Nasdaq was down 0.32%, or 82.93, to 26,130.79, and the S&P 500 was up 0.18%, or 13.86, to 7,513.22.
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