German business software maker SAP will spell out in the new year how it plans to grow each of its major lines of business over the next few years, without making any further big acquisitions, its chief executive said on Wednesday."You will see exactly what our plan is to grow the core, to grow the cloud and to grow the operating income," Bill McDermott told the Morgan Stanley European Technology, Media and Telecoms Conference in Barcelona.McDermott was addressing investor concerns that the company might be facing slowing growth in its core licensed software business and substantially lower profit margins on its newer online cloud services.SAP's share price dropped last month when the company cut its operating profit forecast this year as the shift by customers to subscription-based online services rather than buying a software package upfront slows up revenues.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 0.13% or $0.045/share to $35.52. In the past year, the shares have traded as low as $28.31 and as high as $36.44. On average, 9958410 shares of MS exchange hands on a given day and today's volume is recorded at 3798227.
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