收购与市场扩张 - Zeta达成收购Marigold企业软件业务的最终协议，总交易金额高达3.25亿美元，其中2亿美元（1亿现金/1亿股票）在交易完成时支付[25] - Marigold的企业软件业务在2026年预计贡献约1.9亿美元的收入，调整后的EBITDA利润率预计在中到高十位数[25] - Zeta计划在2025年第四季度结束前完成收购，具体时间取决于满足常规的关闭条件[25] 收入与利润指导 - Zeta对2025年第三季度的收入指导范围为3.27亿至3.29亿美元，同比增长22%至23%[27] - Zeta对2025财年的收入指导范围为12.58亿至12.68亿美元，同比增长25%至26%[27] - 调整后的EBITDA在2025年第三季度的指导范围为7030万至7100万美元，同比增长31%至32%[27] - 调整后的EBITDA利润率在2025年第三季度的指导范围为21.4%至21.7%[27] 自由现金流与未来展望 - Zeta预计2025财年的自由现金流为1.4亿至1.44亿美元[27] - Zeta预计在2026年收购将对调整后的EBITDA和自由现金流产生积极影响[25] 用户数据与收入结构 - Marigold的收入超过90%为订阅收入，成本占收入的比例低于30%[25]

Earlier on August 19, Erik Woodring of Morgan Stanley joined CNBC’s ‘The Exchange’ to discuss the most under-owned tech stocks and what’s behind the bifurcation in the sector. Woodring believes that mega-cap tech is under-owned in the market, as Morgan Stanley revealed that these stocks are the most under-owned by actively managed funds in over 16 years. The gap between the portfolio weightings of these stocks and their weightings in the S&P 500 index widened significantly in the second quarter. Despite thi ...

甲骨文与OpenAI的重大合同 - 公司披露了高达4550亿美元的剩余履约义务（RPO），较上一季度增加了3170亿美元，这主要源于一笔与OpenAI签订的价值3000亿美元的数据中心建设合同[3] - 此消息推动公司股价在一天内上涨约40%，市值增加约3000亿美元，创下历史最大单日涨幅之一[3] - 根据公司最新财务预测，其云基础设施收入有望在五年内增长近十倍，这可能反映了与OpenAI合同的期限[3] 公司商业模式转型 - 公司正从资本密集度低的软件商业模式转向资本密集度高的云基础设施业务[5] - 历史上，公司每投入1美元于物业、厂房和设备可产生超过2.6美元的息税折旧摊销前利润（EBITDA），而过去六年，资本投入增长了十倍，现在每1美元设备投入仅产生0.36美元的利润[5] - 为达成2030年1440亿美元的云基础设施收入目标，公司可能需要投入至少1850亿美元，其现金流在此大规模投资周期初期已转为负值[10] 合同的经济效益分析 - 公司预计本财年云基础设施业务收入为180亿美元，资本支出为350亿美元，若全部资本支出用于云业务且假设利润率为50%，则每投入1美元可能产生0.15美元的利润[8] - 考虑到英伟达大约每两年更新一次芯片，若公司设备使用寿命缩短至四年，其资本回报率可能降至7.1%，低于假设设备寿命为十年时的8.6%[9] - 公司已筹集约1000亿美元债务，其债务总额达到EBITDA的4倍，这对于软件业务而言是相对较高的杠杆水平[10] 行业竞争与回报比较 - 纯人工智能数据中心公司Coreweave在最近六个月内物业、厂房和设备增加了55亿美元，其年化收入增加18亿美元，EBITDA增加8.38亿美元，每投入1美元于PP&E的回报为0.15美元，与根据甲骨文预估计算出的回报几乎完全相同[12] - 相比之下，亚马逊AWS业务每投入1美元于PP&E可产生0.46美元的回报，表明人工智能数据中心业务的回报率远低于成熟的云计算业务[12] - 当前环境与20世纪90年代末的科技泡沫有相似之处，大量资本追逐一个被认定为高增长的行业，可能导致回报率下降[12] 历史比较与潜在风险 - 当前甲骨文的大规模资本支出与20世纪90年代末电信泡沫时期Level 3通信公司过度建设光纤网络的情况类似[4][14] - Level 3通信公司在泡沫高峰期假设EBITDA利润率为50%，需要30年才能收回投资，泡沫破裂后其减记了超过30亿美元的投资，股价在上涨11倍后下跌了95%[15] - 尽管公司未必会遭遇同样命运，但激进的资本投资很少能带来高资本回报，并且会显著增加所有参与者的风险[15]

If you like to see more ideas, please subscribe to the premium service "Value in Corporate Events" here and try the free trial. In this service we cover major earnings events, M&A, IPOs and other significant corporate events with actionable ideas. Furthermore, we provide coverage of situations and names on request!In the spring, I believed that Roper Technologies, Inc. (NASDAQ: ROP ) continued to execute well. The company excels in niche markets, thanks to a strong focus on software, which in combination wi ...

Sep 30, 2025 3:30 PM Eastern Daylight Time CyberArk Is a Proud Participant in the Microsoft Security Store Partner Ecosystem Share Streamlined deployment and seamless integration of pre-validated solutions Customers get accelerated access to CyberArk's trusted, innovative identity security platform CyberArk and Microsoft are collaborating to shape the future of cybersecurity CyberArk Endpoint Privilege Manager CyberArk Privileged Access Manager NEWTON, Mass. & PETACH TIKVA, Israel--(BUSINESS WIRE)--CyberArk ...

Oracle Corporation (NYSE:ORCL) is one of the Best WallStreetBets Stocks to Invest In. On September 25 (updated as of September 26), Reuters reported that a group of three investors, including Oracle Corporation (NYSE:ORCL) and private-equity firm Silver Lake, will take up ~50% stake in TikTok U.S. Reuters, while quoting CNBC, noted that earlier Abu Dhabi-based MGX, Oracle Corporation (NYSE:ORCL) and Silver Lake were poised to be the main investors in TikTok U.S. with a combined 45% ownership. In a recent d ...

Microsoft Corporation (NASDAQ:MSFT) is one of the Best WallStreetBets Stocks to Invest In. On September 24, Reuters noted Microsoft Corporation (NASDAQ:MSFT)’s announcement that it will integrate AI models from Anthropic into its Copilot assistant, hinting at its push to reduce dependence on the high-profile partnership with ChatGPT maker OpenAI. Microsoft Corporation (NASDAQ:MSFT) stated that Copilot Studio will continue to use OpenAI as the default model for new agents, and now there will be flexibility ...

Key Points Docusign shares fell 11.7% in intraday trading amid attention on OpenAI’s new artificial intelligence (AI) agent, called DocuGPT. OpenAI says the system cuts contract management work and improves data quality. The competitive headlines may be overstating the near-term threat to Docusign. 10 stocks we like better than Docusign › Digital contract management expert Docusign (NASDAQ: DOCU) isn't having a good day today. The stock was down 11.7% at 3 p.m. ET, weighed down by the arrival of ...

With strong profitability, Microsoft Corporation (NASDAQ:MSFT) secures a spot on our list of the 11 Most Profitable Blue Chip Stocks to Buy Right Now. Morgan Stanley Raises Microsoft Corporation (MSFT) Price Target to $625; Trump Demands Dismissal of Lisa Monaco Taina Sohlman / Shutterstock.com Citing security concerns relating to her previous government positions, former President Donald Trump openly demanded on September 26, 2025, that Lisa Monaco, the President of Global Affairs at Microsoft Corporat ...

EMERYVILLE, Calif.--(BUSINESS WIRE)--Tanium, a leader in Autonomous Endpoint Management (AEM), today announced its inclusion in the Microsoft Sentinel partner ecosystem. Tanium was selected based on their proven experience with Microsoft Security technologies, willingness to explore and provide feedback on cutting edge functionality, and close relationship with Microsoft. "Tanium delivers comprehensive, real-time endpoint intelligence through our AEM platform – which powers AI and automation. B. ...