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A cloud-computing giant was highlighted on Market Action this week. It’s posed to open higher today after a blowout quarter.
Salesforce.com (CRM) reported earnings of $0.61 a share in the third quarter. With the Street expecting earnings of $0.50 per share, up from $0.39 during the same period last year, the stock rose 8 percent in the pre-market.
For the fourth quarter, CRM expects adjusted earnings of $0.54 to $0.55 a share on revenue of $3.55 billion to $3.56 billion, while analysts estimated $0.57 a share on revenue of $3.52 billion.
Three other companies, J.M. Smucker (SJM), Dick’s Sporting Goods (DKS) and Burlington Stores (BURL), issue earnings reports prior to the stock market open Wednesday.
Two of the three ended Tuesday in the green. SJM closed Tuesday at $109.18 up $0.17 and DKS closed at $36.33 up $0.34, while BURL ended the Tuesday regular market session at $148.56 down $1.13.
Money is flowing back into stocks as investors hope for a better inflation report this week. The S&P 500 rose 1.9 percent between Friday, May 3, and Friday, May 10. It was the third straight positive week. More than four-fifths of the index's members advanced,...
Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support. The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to...
Most of the big earnings reports have now occurred, and so far they've done little to boost the market. Companies like Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Caterpillar (CAT) and Intel (INTC) reported profits above Wall Street estimates. However...