Xero's stock had been beaten down by 50 percent from its highs over the last year. But from February 16 through February 19 it jumped to $19 per share up 15.85 percent from $16.40 per share (Australian). (And which have since topped $20.) The calculations were posted by the New Zealand stock exchange in an inquiry to the company. The inquiry and response is required under New Zealand Listing Rule 10.1.1 when a stock moves significantly.
Avalara has named Patrick Falle as North American Channel Chief as the company reorganizes its channel. Falle takes over from Pascal Van Dooren, who had been handling all channel duties but now is responsible for overseeing global channel efforts. Falle, a founding investor of the Bainbridge, Island, Wash.-based company, takes over recruiting more reselling, development and accounting partners in North America and internationally.
Sage One Accounting has been introduced in several markets in sub Saharan Africa. The cloud-based package is being made available through a deal between Sage Pastel Accounting and MTN Business. I bring this up because we don't hear a lot about Sage One in the United States and this is a worldwide product. Given the dominance of Intuit in this market and the fact Xero is the fast-growing second banana, it will probably take a different approach for the low-cost Sage product to have much impact here.
A flurry of bad press about Intuit's TurboTax applications has ended up as sound and fury and you know the rest. Intuit rolled on with its online applications for the second quarter ended January 31 with results headed up. "Our financial results are strong. The growth of QuickBooks Online subscribers is continuing to accelerate," CEO Brad Smith said during this week's earnings webcast.