Public clouds hit a wall in innovation

As it opens this week, AWS re:Invent is not taking place in Vegas but is virtual and free. Virtual events are a silver lining of the pandemic because they keep me off airplanes and eliminate seven miles of walking each day at the bigger public cloud conferences. Maybe I’m getting lazy in my old age, but the time that virtual events save seems to be more productive.

Not to pick on AWS, but when we look at the announced innovations at public cloud events during the past year, few were game changers. Yes, most vendors will continue to move toward the intelligent edge, providing more points of presence, and they will continue to exploit artificial intelligence. However, these are mostly evolutionary steps rather than revolutionary ideas.

It doesn’t matter if we’re talking about moving from containers to serverless containers or from relational databases to purpose-built cloud-based databases or from outdated

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Workday Drops Despite Q3 Beat: What Wall Street Is Saying

Shares of accounting software maker Workday  (WDAY) – Get Report dropped premarket Friday following its third quarter earnings release despite topping earnings and revenue estimates as the company also issued weak guidance for 2021. 

The company said it expects software demand to continue to come under pressure in 2021 due to the coronavirus pandemic. 

Shares fell 3.5% to $222.80 in premarket trading Friday.

Here’s what Wall Street is saying about Workday:

Barclays (Equal Weight rating maintained, PT lowered to $234 from $238)

The big debates for investors post a healthy Q3 will be how conservative guidance is, especially around Q4 subscription backlog growth (14-16% YoY vs 20% plus so far this year), and how this year’s bookings numbers translate into next year’s subscription revenue. We believe that there was a fair amount of investor excitement going into earnings that a healthy Q3 would translate into positive estimate revisions

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Inside Wall Street’s battle with traders over their use of non-compliant messenger apps like WhatsApp and WeChat

A compliance executive who oversees markets and securities services at a top Wall Street bank said messaging apps have become more of a pressing issue in the past two or three years. They spoke on condition of anonymity to discuss internal policy freely.

Traders have increasingly looked to do business on messenger apps like WeChat and WhatsApp. WhatsApp; Getty Images; Samantha Lee/Business Insider

© WhatsApp; Getty Images; Samantha Lee/Business Insider
Traders have increasingly looked to do business on messenger apps like WeChat and WhatsApp. WhatsApp; Getty Images; Samantha Lee/Business Insider

And while firms can warn people to stay off certain apps and offer company-approved devices and channels, there’s always the temptation to meet client preferences or use WhatsApp for more informal communications inside the firm. 

If a bank is dealing with a client that uses WeChat or WhatsApp, and that’s the way they want to communicate, “it creates a challenge for us,” this compliance exec told Business Insider. 

Business Insider spoke with more than a dozen traders, compliance experts, tech

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Datadog Slumps Despite Beating Q3 Estimates: What Wall Street Is Saying

Shares of Datadog  (DDOG) – Get Report dropped Wednesday morning following its third quarter earnings that came out after the closing bell on Tuesday. 

The cloud analytics software company posted non-GAAP earnings per share of 5 cents, vs. analyst estimates of 1 cent a share, while its revenue of $154.7 million topped estimates by $10.4 million. 

However, Datadog posted billings of around $156 million, vs a $159.1 million consensus. Shares were falling 10.7% to $82.73 Wednesday morning. 

Here’s what Wall Street is saying about the results:

Morgan Stanley (Equal-Weight rating maintained, PT raised from $80 to $86 )

The challenge is that 4Q guidance calling for
43-44% YoY growth suggests another pronounced deceleration which reflects
prudent conservatism in light of a macroenvironment that is still challenging and
fraught with risks. With a highly efficient, go-to market model coupled with a high
velocity product engineering organization, we still see

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