Citigroup (C) on (MSFT) (VMW) (CRM) (ADBE) (SYMC) and Macroeconomic Effect on Sector

Referencing the upcoming Technology Conference, Citigroup (NYSE:C) software analyst Walter Pritchard said one major concern for the sector is the macroeconomic situation, which is weakening, but not yet showing up in the outlook for software companies such as Microsoft (NASDAQ:MSFT), VMWare (NYSE:VMW), Salesforce.com (NYSE:CRM), Adobe (NASDAQ:ADBE) and Symantec (NASDAQ:SYMC).

Pritchard said, “It may be a matter of time before the backdrop catches up with software companies,” as the probable fallout hasn't hit the estimates for the firms yet.

Among his favorites in the software sector are Taleo (NASDAQ:TLEO), Verisign (NASDAQ:VRSN), Symantec, and Check Point (NASDAQ:CHKP).

Other companies in the Conference will be Autodesk (NASDAQ:ADSK), BMC Software (NASDAQ:BMC), CA (NASDAQ:CA), Citrix Systems (NASDAQ:CTXS), Dassault Systems (OTC:DASTY), Fortinet (NASDAQ:FTNT) and SuccessFactors (NASDAQ:SFSF).

Taleo (TLEO) (AKAM) (MSFT) (AMAT) (RCII) (ARUN) Price Targets Changed

Taleo Corp. (NASDAQ: TLEO), Akamai Technologies (NASDAQ: AKAM), Microsoft Corp (NASDAQ: MSFT), Applied Materials, Inc. (NASDAQ: AMAT), Rent-A-Center, Inc (NASDAQ: RCII) and Aruba Networks, Inc. (NASDAQ: ARUN) had price targets adjusted by analysts.

Taleo Corp. (TLEO) had its price target lowered by Stifel Nicolaus from $42.00 to $35.00. They have a “Buy” rating on the company.

Akamai Technologies (AKAM) had its price target lowered by Stifel Nicolaus from $36.00 to $32.00. They have a “Buy” rating on the company.

Microsoft Corp. (MSFT) had its price target lowered by Stifel Nicolaus from $37.00 to $32.00. They have a “Buy” rating on the company.

Applied Materials, Inc. (AMAT) had its price target lowered by RBC Capital from $14.00 to $12.00. They have a “Sector Perform” rating on the company.

Rent-A-Center, Inc. (RCII) had its price target lowered by Northland Securities from $37.00 to $31.00. They have an “Outperform” rating on the company.

Aruba Networks, Inc. (ARUN) had its price target lowered by RBC Capital from $36.00 to $25.00. They have an “Outperform” rating on the company.

Taleo (TLEO) (EPR) (PIKE) (INFA) (KNXA) (OTEX) Get New Coverage

Taleo Corp (NASDAQ: TLEO), Entertainment Properties Trust (NYSE: EPR), Pike Electric Co. (NASDAQ: PIKE), Informatica Co. (NASDAQ: INFA), Kenexa Co. (NASDAQ: KNXA) and Open Text (NASDAQ: OTEX) getting new coverage from analysts.

Morgan Keegan initiated coverage on Taleo Corp. (TLEO). They placed an “Outperform” rating and a price target of $33.00 on the company.

Goldman Sachs (NYSE:GS) initiated coverage on Entertainment Properties Trust (EPR). They placed a “Neutral” rating on the company.

Stifel Nicolaus initiated coverage on Pike Electric Co. (PIKE). They placed a “Buy” rating and a price target of $11.50 on the company.

Morgan Keegan initiated coverage on Informatica Co. (INFA). They placed a “Market Perform” rating and a price target of $50.00 on the company.

Morgan Keegan initiated coverage on Kenexa Co. (KNXA). They placed an “Outperform” rating and a price target of $32.00 on the company.

Morgan Keegan initiated coverage on Open Text (OTEX). They placed an “Outperform” rating and a price target of $64.00 on the company.

Apple (AAPL) (BBY) (GLW) (TLEO) (CNW) Ratings Maintained

Ratings on Apple, Inc (NASDAQ: AAPL), Best Buy Co., Inc. (NYSE: BBY), Corning Inc. (NYSE: GLW), Taleo Corp (NASDAQ: TLEO) and Con-way Inc. (NYSE: CNW) reiterated by analysts.

JPMorgan Chase & Co. (NYSE:JPM) reiterated an “overweight” rating on Taleo Corp (TLEO).

Citigroup (NYSE:C) reiterated a “hold” rating on Corning Inc. (GLW).

JPMorgan Chase & Co. reiterated an “underweight” rating on of Con-way Inc. (CNW).

Sterne Agee reiterated a “buy” rating on Apple, Inc (AAPL).

Deutsche Bank (NYSE:DB) reiterated a “buy” rating on Best Buy Co., Inc. (BBY).

Apple closed Wednesday at $351.76, gaining $2.33, or 0.67 percent. Best Buy Co. ended the session at $32.00, dropping $0.24, or 0.74 percent. Corning closed at $18.24, down $0.07, or 0.38 percent. Taleo closed at $36.96, climbing $0.12, or 0.33 percent. Con-Way closed at $41.87, rising $2.24, or 5.65 percent.

Big Movers (SPH) (GEOI) (SIX) (EW) (TLEO) on May 6

Among the big, positive movers on Friday, May 6, were Suburban Propane (SPH), Georesources (GEOI), Six Flags Entertainment (SIX), Edwards Lifesciences (EW) and Taleo Corp. (TLEO).

Suburban Propane (SPH) jumped $1.63, to close at $53.95, a gain of 3.12 percent.

Georesources (GEOI) was up $1.62 on the day to close at $25.83, a gain of 6.69 percent.

Six Flags Entertainment (SIX) climbed $1.61 to close at $75.41, a gain of 2.18 percent.

Edwards Lifesciences (EW) rose $1.60 to close the session at $88.20, a gain of 1.85 percent.

Taleo Corp. (TLEO) was up $1.60 to end the day at $36.62, a gain of 4.57 percent.

All-Time Highs for (THI) (TLEO) (TNAV) (TRV) (TU) Reached May 6

Tim Hortons Inc. (NYSE:THI), Taleo Corp. (NASDAQ:TLEO), Telenav, Inc. (NASDAQ:TNAV), The Travelers Companies (NYSE:TRV) and Telus Corp. (NYSE:TU) all breached all-time highs on Friday, May 6.

Tim Hortons Inc. (THI) closed at $49.11, gaining $0.87, or 1.80 percent. They traded as high as $49.38 on the day.

Taleo Corp. (TLEO) closed Friday at $36.62, jumping $1.60, or 4.57 percent. They traded as high as $37.95 on the day.

Telenav, Inc. (NASDAQ:TNAV) closed Friday at $14.71, climbing $0.39, or 2.72 percent. They traded as high as $14.83 on the day.

The Travelers Companies (NYSE:TRV) closed at $63.43, up $0.43, or 0.68 percent. They traded as high as $64.17 on the day.

Telus Corp. (NYSE:TU) closed at $51.26, gaining $0.13, or 0.25 percent. They traded as high as $51.98 on the day.

All-Time Highs for (THI) (TLEO) (TNAV) (TRV) (TU) Reached May 6

Tim Hortons Inc. (NYSE:THI), Taleo Corp. (NASDAQ:TLEO), Telenav, Inc. (NASDAQ:TNAV), The Travelers Companies (NYSE:TRV) and Telus Corp. (NYSE:TU) all breached all-time highs on Friday, May 6.

Tim Hortons Inc. (THI) closed at $49.11, gaining $0.87, or 1.80 percent. They traded as high as $49.38 on the day.

Taleo Corp. (TLEO) closed Friday at $36.62, jumping $1.60, or 4.57 percent. They traded as high as $37.95 on the day.

Telenav, Inc. (NASDAQ:TNAV) closed Friday at $14.71, climbing $0.39, or 2.72 percent. They traded as high as $14.83 on the day.

The Travelers Companies (NYSE:TRV) closed at $63.43, up $0.43, or 0.68 percent. They traded as high as $64.17 on the day.

Telus Corp. (NYSE:TU) closed at $51.26, gaining $0.13, or 0.25 percent. They traded as high as $51.98 on the day.

Price Targets on (TLEO) (TW) (ULBI) Updated

Analysts updated their price targets on Taleo Corp (NASDAQ: TLEO), Towers Watson and Co (NYSE: TW) and Ultralife Corp. (NASDAQ: ULBI) today.

Stifel Nicolaus raised their price target on Taleo Corp (TLEO) from $38.00 to $42.00. They have a “buy” rating on the company.

BMO Capital Markets raised their price target on Taleo Corp (TLEO) from $30.00 to $35.00. They have a “market perform” rating on the company.

Goldman Sachs (NYSE:GS) raised their price target on Towers Watson and Co (TW) to $65.00. They have a “neutral” rating on the company.

Ardour Capital cut their price target on shares of Ultralife Corp. (ULBI) from $5.50 to $4.00. They have a “hold” rating on the company.

EPS on (ONNN) (RIG) (SD) (TDC) (TLEO) (WEC) Updated

EPS estimates on ON Semiconductor (NASDAQ: ONNN), Transocean (NYSE: RIG), SandRidge Energy Inc. (NYSE: SD), Teradata Co. (NYSE: TDC), Taleo Corp (NASDAQ: TLEO) and Wisconsin Energy (NYSE: WEC) updated by analysts today.

Goldman Sachs (NYSE:GS) raised their EPS estimates on shares of ON Semiconductor (NASDAQ: ONNN). They have a “buy” rating and a price target of $12.00 on the company.

Morgan Stanley (NYSE:MS) cut their EPS estimates on Transocean (RIG). They have an “overweight” rating and a price target of $120.00 on the company.

UBS AG (NYSE:UBS) cut their EPS estimates on SandRidge Energy Inc. (SD). They now have a “neutral” rating and a price target o $11.50 on the company.

Oppenheimer raised their EPS estimates on Teradata Co. (TDC). They now have an “outperform” rating and a price target of $57.00 on the company.

Oppenheimer raised their EPS estimates on Taleo Corp (TLEO). They have an “outperform” rating and a price target of $41.00 on the company.

Goldman Sachs raised their EPS estimates on Wisconsin Energy (WEC). They have a “neutral” rating and a price target of $32.00 on the company.

Ratings on (SBAC) (SCG) (SFLY) (TLAB) (TLEO) Reiterated

Ratings on SBA Communications Corp (NASDAQ: SBAC), Scana Corporation (NYSE: SCG), Shutterfly (NASDAQ: SFLY), Tellabs, Inc. (NASDAQ: TLAB) and Taleo Corp (NASDAQ: TLEO) reiterated by analysts.

Deutsche Bank (NYSE:DB) reiterated a “buy” rating on SBA Communications Corp (SBAC).

Gabelli reiterated a “buy” rating on shares of Scana Corporation (SCG).

Morgan Keegan reiterated an “outperform” rating on Shutterfly (SFLY).

Morgan Keegan reiterated a “market perform” rating on Tellabs, Inc. (TLAB).

Citigroup (NYSE:C) reiterated a “buy” rating on Taleo Corp (TLEO). They have a price target of $44.00 on the company.