SALESFORCE FORECAST
Salesforce launches public sector division in India; unveils Made-for-India digital lending solution
Salesforce launched its public sector division in India, introducing a digital lending solution tailored to the market's needs. The move underscores the company's commitment to India, with insights from an IDC study projecting significant job creation and revenue generation. CEO Arundhati Bhattacharya highlighted India's digital transformation potential, noting an urgency for technology adoption. The new offerings aim to enhance citizen experiences and streamline consumer lending processes in the country.
Nasdaq falls 1%; Salesforce shares weigh on tech
Nasdaq dropped due to tech and communication services sector declines, and slower Q1 growth per Commerce Dept. report.
Salesforce plummets 18% as weak forecast sparks concerns of AI competition
Salesforce shares slumped about 18% on Thursday, after its lowest-ever quarterly revenue growth forecast raised fears that high interest rates and rival AI offerings were hampering demand at the cloud-based software firm.
Dow slides 1% as bond market pressure eases after cooler economic data
The S&P 500 traded 0.2% lower and the Nasdaq composite dropped 0.3%. Yields fell on Thursday after a couple of reports showed the U.S. economy isn’t quite as strong as expected. The hope on Wall Street is that the economy can cool down, but not too much so that the Federal Reserve can hit a precise landing where it gets high inflation under control without causing a bad recession.
Wall Street ends lower amid rate concerns, higher bond yields
Stocks declined following the Beige Book release, showing U.S. economic expansion and reduced rate cut expectations, per CME FedWatch Tool.
Salesforce leads the charge in hiring for new AI-driven roles
Salesforce is recruiting for positions like prompt engineers, AI trainers, and ethical AI architects. The demand for new skills is rising in the job market, driven by AI opportunities.
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Adobe shares plunge 12% as downbeat forecast fans concerns about competition, AI efforts
The company expects about $440 million in net new annual recurring revenue for the digital media segment, which houses its cloud products for documents and creative applications. Last year, the unit had reported $470 million.
Adobe drops as weak forecast fans worries about competition, AI efforts
Like other software firms Microsoft and Alphabet-owned Google, Adobe is being watched closely by Wall Street for its ability to make money from AI features that it has rolled out across its creative suite including Photoshop.
Snowflake shares sink 21% on weak forecast, surprise CEO retirement
Snowflake expects product revenue of $3.25 billion in fiscal year 2025, and between $745 million and $750 million for the quarter ending April, both below Wall Street expectations.
Salesforce sees annual revenue below estimates on weak cloud demand
Salesforce expands buyback program and introduces dividend, but lower revenue forecast and layoffs signal a slowdown. Cloud firms, including Salesforce and Snowflake, face uncertainty. Salesforce beats Q4 estimates and becomes target for activist investors.
Salesforce laying off 700 workers in latest tech industry downsizing: report
According to the Wall Street Journal, Salesforce still has 1,000 jobs open across the company, implying that the move could be more of a routine adjusting of the company's workforce
Salesforce shares jump nearly 10% as strong cloud demand drives stellar results
Salesforce's revenue of $8.72 billion and adjusted profit of $2.11 per share beat Wall Street expectations, the company reported after the closing bell on Wednesday. It also forecast fourth quarter revenue to reach between $9.18 billion and $9.23 billion, and adjusted profit to range from $2.25 to $2.26 per share, higher than analyst estimates.
Dow hits 2023 peak as Salesforce jumps, inflation eases
While the Dow rose to 35,725.11 points, crossing its intraday high of 35,679.13 points hit in August, all three main indexes were on course for their strongest November since 2020.
Salesforce raises annual profit view on steady cloud demand
Salesforce company now expects full-year adjusted profit between $8.18 and $8.19 per share compared with $8.04 to $8.06 it had forecast earlier.
Financial Fluency for Future CXOs: Management Lessons for Mid-Career Leaders
Financial fluency is becoming increasingly important for mid-career leaders aspiring to become Chief Executive Officers (CEOs), Chief Operating Officers (COOs), and Chief Financial Officers (CFOs). These future CXOs must possess the ability to understand and interpret financial information, make data-driven decisions, and communicate financial concepts effectively. Key areas for development include mastering financial statements, understanding valuation principles, risk management, optimizing capital structure, strategic financial planning, effective communication, and continuous learning. Developing financial fluency empowers mid-career leaders to contribute meaningfully to their organization's success in a competitive business landscape.
Salesforce rallies as profitability push pays off
The business software firm behind workplace-messaging tool Slack and data analytics tool Tableau was set to add around $10 billion to its market value. The stock has risen more than 60% so far this year.
Salesforce lifts annual revenue, operating margin forecast amid strong demand
The results fan optimism about a recovery in technology spending in the second half of 2023 after earnings from major cloud players including Amazon.com and Alphabet-owned Google suggested that the slowdown was nearing an end.
CFO Benefits: From Agile Operations to Informed Decision-Making
Hiring a Chief Financial Officer (CFO) can bring numerous advantages to businesses. CFOs contribute to strategic planning, risk management, and data-driven decision-making. They streamline financial reporting, optimize cash flow management, and reduce costs. CFOs also provide professional advice during mergers, acquisitions, or fundraising. Their expertise helps businesses make informed choices, identify growth opportunities, and mitigate risks effectively. With their financial knowledge and strategic thinking, CFOs enhance a company's resilience, competitiveness, and long-term success.
Zoom lifts annual forecasts even as growth slows from pandemic peaks
Zoom Video Communications Inc on Monday raised its full-year forecasts for revenue and profit even as growth winds down from a pandemic boom and business spending slows in a tough economy.
View: Software development is democratising and it's a win-win for all
The focus has shifted from pure-play development to integration of LCNC elements, breaking free from conventional thinking while increasing productivity by around three times. Gartner forecasts that by 2025, 70% of new apps that enterprises build will use LCNC technologies.
Salesforce signals strong position with buyback plan boost, upbeat forecast
Salesforce Inc on Wednesday forecast first-quarter revenue above analysts' estimates and doubled its share repurchase to $20 billion, indicating a strong cash flow for the company that has come under pressure from activist investors.
Microsoft's dour outlook raises red flags for tech sector
Microsoft, the second most valuable US company, sounded a cautious note in its quarterly earnings report as a steep fall in client spending has sparked a series of high-profile layoffs in the tech industry.
Fewer Americans file for jobless benefits last week
The number of Americans applying for jobless aid for the week ending Jan. 14 fell by 15,000 to 190,000, from 205,000 the week before, the Labour Department said Thursday. The four-week moving average of claims, which can even out the week-to-week volatility, declined by 6,500 to 206,000.
US stock market: Wall Street ends mixed; Salesforce selloff pressures Dow
U.S. manufacturing activity shrank in November for the first time in 2-1/2 years as higher borrowing costs weighed on demand for goods, data showed, evidence the Fed's rate hikes have cooled the economy.
Wall St slides after manufacturing data, Salesforce tumbles
The Dow Jones Industrial Average fell 56.2 points, or 0.16%, at the open to 34533.59
Salesforce's Bret Taylor steps down as co-CEO, Marc Benioff to be at the helm
Benioff will remain the sole CEO and continue as board chairman of the software giant when Taylor departs on Jan. 31, the company said Wednesday in a statement. Taylor has been at the company for the past six years and was named co-CEO in November 2021.
Salesforce shares fall as revenue forecast misses analysts’ estimates
Sales will be as much as $7.83 billion in the period ending in October, the San Francisco-based company said Wednesday in a statement. Analysts, on average, projected $8.05 billion, according to data compiled by Bloomberg.
IBM beats quarterly revenue estimates, warns of $3.5 billion forex hit
IBM posted adjusted gross profit margin of 54.5% for the quarter ended June 30, while analysts on average expected 56.6%, according to Refinitiv data.
Salesforce sees robust profit, expects little impact from inflation
Salesforce said there was strong demand for its software from companies looking to improve efficiencies and incorporate modern-day work-flows, including hybrid work, despite a four-decade high inflation and tapering consumer demand.
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