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Is Tibco the canary in the coalmine?

07 September 2007 Be the first to comment

Paul Penrose

Head of Research

Finextra

Tibco's decision to downgrade its earnings forceasts for the year after experiencing a sudden fall out in contracts at the end of the quarter has spurred some analysts to suggest that that the ongoing credit crunch may be hitting bank IT spending budgets.

Katherine Egbert, an analyst with Jefferies and Co. notes: "Although Tibco is a relatively small vendor, their third-quarter results could be a first glimpse into a potentially larger slowdown in financial services spending."

But rather than implying a straight cut in bank budgets, it's just possible that Tibco's plight highlights a switch in IT spending priorities as investment firms struggle to deal with the fall-out from the current market turmoil.

Could Tibco's loss be the back office's gain?

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The Finextra50 Financial Technology Index is a free-float value weighted index of the world's leading companies that provide technology-based products and services to the financial services industry. It was set at an indexed value of 100 at market close on Friday 4th May 2007. This is a community for discussing the index, its movements and wider M and A activity in the fintech world.

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Paul Penrose

Head of Research

Finextra

Member since

06 Oct 2006

Location

London

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