Editorial companion

What stands out

Scott Martin’s take on the Silver Lake chatter around Workday (WDAY), including the alleged $43 billion approach that sent the shares to their best day in a decade, matters because it turned a rumor into a wider reappraisal of enterprise software value. Mergers and acquisitions (M&A) interest highlights what private buyers prize most: predictable, recurring revenue that cashflows when public multiples wobble. Martin’s shout-outs to Adobe (ADBE) and Salesforce as winners, and Fair Isaac as a weaker name, frames a trade that is less about hype and more about business durability versus execution risk.