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☆ Goldman Sachs upgrades this tech stock, sees more than 25% upside despite headwinds
▼ + stars: | 2023-08-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Analyst Gabriela Borges upgraded the stock to buy from sell and increased cut her price target to $91 from $77. The identity management software provider's stock rose more than 4.3% in premarket trading Monday. OKTA 1Y mountain OKTA in past 12 months But Borges pointed to several growth catalysts for Okta going forward. Against the tech giant, Borges said Okta is superior in areas such as external access management services, out-of-box functionality and support for non-standard applications. The firm said that its bull/bear scenarios suggested upside to the stock despite incorporating potential headwinds, such as moderated market share gain and a discount to its target multiple, from Microsoft into its buy thesis.

Persons: Goldman Sachs, Gabriela Borges, Borges, Okta, — CNBC's Michael Bloom Organizations: Okta, Microsoft Locations: Friday's

☆ Three-Stock Lunch: Tesla, Okta & U.S. Steel
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Tesla, Okta & U.S. SteelVictoria Greene, G Squared Private Wealth CIO, joins 'Power Lunch' to discuss three stocks: Tesla, Okta, and United States Steel Corp.

Persons: U.S . Steel Victoria Greene Organizations: U.S . Steel, Private Wealth, United States Steel Corp

☆ Stocks making the biggest moves midday: AMC, U.S. Steel, PayPal, Tesla and more
▼ + stars: | 2023-08-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, August 22, 2022. PayPal — PayPal stock added 2% after the company announced Intuit's Alex Chriss would take over as chief executive beginning in September. Tesla — Shares slipped 2% after the company announced lowered prices on some models in China. Okta — Stock in the identity management firm added 2.4% in midday trading after an upgrade to buy from Goldman Sachs over an improving risk reward ratio. Teledyne Technologies — The conglomerate climbed 4% after Goldman Sachs upgraded the stock to a buy from neutral.

Persons: AMC's, Intuit's Alex Chriss, Andrew Carnegie, J.P, Morgan, Wells, Nikola —, Goldman Sachs, Goldman, —, Samantha Subin, Alex Harring, Pia Singh, Hakyung Kim Organizations: New York Stock Exchange, AMC —, AMC, PayPal, U.S . Steel, Goldman, Teledyne Technologies Locations: New York, Cleveland, China, Maui

[1/2] A response by ChatGPT, an AI chatbot developed by OpenAI, is seen on its website in this illustration picture taken February 9, 2023. Anecdotal examples of people using ChatGPT to help with their day-to-day work include drafting emails, summarising documents and doing preliminary research. Reuters was not able independently confirm how employees at Tinder were using ChatGPT. In May, Samsung Electronics banned staff globally from using ChatGPT and similar AI tools after discovering an employee had uploaded sensitive code to the platform. Reuters was not able independently to confirm whether employees at P&G were unable to use ChatGPT.

Persons: Florence Lo, ChatGPT, Ben King, King, OpenAI, Tinder, Samsung, Google's Bard, Bard, We've, TATE.L, Dawn Allen, trialing ChatGPT, It's, Paul Lewis, Lewis, Richa Naidu, Martin Coulter, Jason Lange, Alexander Smith Organizations: REUTERS, Reuters, Microsoft, Google, AIs, Samsung Electronics, Cola, Tate, Procter, Gamble, Thomson Locations: WASHINGTON, U.S, United States, Europe, Atlanta , Georgia

☆ AI companies are flocking to San Francisco — giving the city's commercial real-estate market a much-needed boost
▼ + stars: | 2023-08-10 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

The city may have the recent AI boom to thank for the boost, experts say. According to data from VTS, San Francisco saw a recent boom in demand, experiencing a 10.2% demand increase in the most recent quarter. It's perhaps unsurprising that AI companies seem to have San Francisco in their sights. Quinn said JLL had 10 AI clients eyeing around 750,000 to one million square feet of San Francisco real estate. One AI company, Hive, recently announced it was subleasing three floors of a downtown San Francisco office — taking over space previously occupied by software company Okta, Bloomberg reported.

Persons: Alexander Quinn, Jones Lang LaSalle, Nick Romito –, –, There's, Romito, It's, Quinn, JLL, —, VTS's Romito, He's Organizations: Morning, PayPal, ChatGPT, San Francisco's Mission, San Francisco's, Economic, Workforce Development, Bloomberg Locations: Francisco, VTS, San Francisco, San Francisco's

☆ The biggest takeaways from Microsoft's courtroom showdown with the FTC over Activision Blizzard
▼ + stars: | 2023-06-30 | by ( Jordan Novet | ) www.cnbc.com time to read: +21 min

The impulse to expand Microsoft's gaming business on mobile devices at least in part inspired the Activision acquisition. The impulse to expand Microsoft's gaming business on mobile devices at least in part inspired the Activision acquisition. Jim Ryan, CEO of Sony Interactive Entertainment, wasn't happy with a Microsoft-generated list of Activision Blizzard games that would remain accessible on the PlayStation after the acquisition closes. Jim Ryan, CEO of Sony Interactive Entertainment, wasn't happy with a Microsoft-generated list of Activision Blizzard games that would remain accessible on the PlayStation after the acquisition closes. Activision Blizzard and Microsoft have agreed to terminate the deal if it's not done by July 18.

Persons: Satya Nadella, Phil Spencer, Spencer, James Weingarten, Weingarten, Jim Ryan, Sony, Ryan, Amy Hood, Bobby Kotick, Sarah Bond, Kotick, Amazon Weingarten, Bond, Tim Stuart, Nadella, Bernstein, Mark Moerdler, Hood, Stuart, it's, Jacqueline Scott Corley, she'll Organizations: Northern, Northern District of, Microsoft, Activision Blizzard, Federal Trade Commission, FTC, Sony, PlayStation, Mobile, Activision, Xbox, Zynga, Sega Sammy, Nintendo, Enix, Sony Interactive Entertainment, Management, Sony Group, Amazon, Microsoft's Xbox, Bernstein Research, Symantec, Sony PlayStation Locations: U.S, Northern District, Northern District of California, San Francisco, cybersecurity, United Kingdom, FarmVille, Asia, Japan, Tokyo

June 6 (Reuters) - Salesforce Inc (CRM.N) CEO Marc Benioff has shuffled the top management, a person familiar with the matter told Reuters on Tuesday, a move that follows after the software company reported its slowest quarterly revenue growth since 2010. Miguel Milano has been appointed as the chief revenue officer, the source said, adding that Ariel Kelman will take over as Salesforce's chief marketing officer. After a previous tenure of nearly a decade at Salesforce, Milano will make a return from his recent position at software company Celonis. Kendall Collins, who will step into the role of chief of staff for Benioff, had worked as CMO at Okta and Cisco's AppDynamics. Salesforce President and Chief Operating Officer Brian Millham would be assuming new duties such as marketing, employee success and business technology, the source said.

Persons: Marc Benioff, Miguel Milano, Ariel Kelman, Milano, Celonis, Kelman, Kendall Collins, Brian Millham, Salesforce, Benioff, Kanjyik Ghosh, Akriti Sharma, Anirudh, Sherry Jacob, Phillips Organizations: Salesforce, Reuters, Amazon Web Services, Oracle, Inclusive, Microsoft Corp, Amazon.com Inc, Thomson Locations: Salesforce, Okta, Bengaluru

☆ In an internal memo, Marc Benioff shakes up Salesforce's top ranks, and drops a subtle hint about the company's succession plan
▼ + stars: | 2023-06-06 | by ( Nicholas Carlson | Julie Bort | ) www.businessinsider.com time to read: +5 min

Miguel Milano becomes Salesforce's Chief Revenue Officer, moving from the same role at software company Celonis. Ariel Kelman, is the new Chief Marketing Officer of Salesforce. Benioff responded to the pressure by laying off thousands of employees and making other changes to increase the company's efficiency. Miguel Milano, our new Chief Revenue Officer: I'm excited to welcome back Miguel Milano to Salesforce as our Chief Revenue Officer. Ariel Kelman, our new Chief Marketing Officer:It's also incredible to welcome back Ariel Kelman as our new CMO!!!

Persons: Benioff, Marc Benioff, Miguel Milano, Milano, Ariel Kelman, Kendall Collins, Brian Millham, Salesforce, Millham, He's, Read, I'm, Brian, Brent, Juan, Miguel, It's, Ariel, Sarah Franklin, Sarah, she's, Sarah's, Congratulation Sarah, Alex Dayon, Alex, Alex !, Hui Hou Alex, Kendall, salesforce Organizations: Salesforce, Amazon, Oracle, Celonis, Amazon Web Services, Staff, Business Technology, Elliott Management, Human Resources, Global, Services, EMEA, APAC, AWS, Advisory, Board Locations: Okta, Salesforce, Celonis, AppDynamics

Macy's also slashed its full-year earnings and sales guidance, after "demand trends weakened" for discretionary items in March. Dollar General — Shares tumbled 9% after the company reported an earnings and revenue miss for the first quarter. The lingerie retailer reduced its full-year revenue guidance in the low-single digits range from the prior mid-single digit range estimates. Veeva also raised its full-year earnings per share guidance by 26 cents. The company's full-year revenue guidance also topped analysts' estimates.

Persons: Nordstrom, Nordstrom's, Salesforce, Okta, Okta's, Macy's, CrowdStrike's, Refinitiv, Veeva, Macheel, Samantha Subin, Jesse Pound, Michelle Fox Organizations: BMO Capital, Saudi Arabia's Public Investment Fund, Chewy, —, JPMorgan, CSX, UBS, Systems Locations: New York City, Canada

☆ Here are Thursday's biggest analyst calls: Target, Tesla, Toast, Chevron, Meta, Toll Brothers and more
▼ + stars: | 2023-06-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan downgrades Okta to neutral from overweight JPMorgan Chase said it sees too many macroeconomic pressures for the company. " JPMorgan downgrades Target to neutral from overweight JPMorgan Chase said in its downgrade of the stock it sees a "weakening" consumer. Bank of America initiates Toast as buy Bank of America said the restaurant tech company is "best in class." JPMorgan upgrades Domino's Pizza to overweight from neutral JPMorgan Chase said in its upgrade of Domino's that it's too cheap to ignore. Bank of America reiterates Dick's as buy Bank of America said it's bullish on the company's new store format.

Persons: Goldman Sachs, Goldman, Johnson, it's, Salesforce, JPMorgan downgrades, JPMorgan Chase, we've, Horton, PulteGroup, TOST, BorgWarner, Morgan Stanley, Tesla, XOM, Cowen, Phillips, Wedbush, Macquarie, Dick's, it's bullish, DKS Organizations: AAP, Barclays, JCI, RBC, Chevron, JPMorgan, JPMorgan downgrades Target, Deutsche Bank, " Bank of America, Bank of America, Restaurant Association, BorgWarner Deutsche Bank, Citi, Meta, ExxonMobil, UBS, CSX, Garden Entertainment, Knicks, Rangers, Networks Locations: Europe, New York

☆ Stocks making the biggest moves midday: Dollar General, Salesforce, C3.ai, Chewy and more
▼ + stars: | 2023-06-01 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Dollar General — Shares sank nearly 20% after the company reported an earnings and revenue miss for the first quarter. Its second-quarter revenue guidance also beat expectations, per StreetAccount. The company also reduced its full-year revenue guidance in the low single-digits range from the prior midsingle-digit range estimates. The drop in shares came as cost concerns and dwindling demand for consulting deals overshadowed better-than-expected results and an improved full-year earnings outlook. The company also raised its full-year earnings per share guidance.

Persons: Chewy, Hormel, Wednesday's, CrowdStrike, Salesforce, Okta, JPMorgan Chase, Veeva, Samantha Subin, Yun Li, Alex Harring, Tanaya Macheel Organizations: StreetAccount, Revenue, Refinitiv, JPMorgan, Veeva Systems, Saudi Arabia's Public Investment Fund, Barclays Locations: Vallejo , California

☆ Stocks making the biggest moves after hours: C3.ai, Nordstrom, Salesforce, CrowdStrike and more
▼ + stars: | 2023-05-31 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Nordstrom — Shares of the high-end department store jumped 9% in extended trading after its fiscal first-quarter sales beat Wall Street's expectations. CrowdStrike — The cybersecurity firm's stock tumbled nearly 12% in after-hours trading after the company reported slowing revenue growth. CrowdStrike reported quarterly revenue of $692.6 million, marking a 42% year-over-year increase, which is slower than the 61% growth it reported in the year-ago quarter. C3.ai expects to see fiscal first-quarter revenue of between $70 million and $72.5 million, which is less rosy than Wall Street had expected. Analysts called for earnings of 4 cents per share on $559 million in revenue, according to Refinitiv.

Persons: Nordstrom, Salesforce, CrowdStrike, Okta, Chewy, —, Darla Mercado Organizations: StreetAccount, Revenue, Wall Locations: Refinitiv

Looking ahead, investors this week will be laser-focused on Washington, as Congress prepares to vote on a bill to raise the U.S. debt ceiling . But the shortened trading week ahead still features some key earnings and economic data. ET: S & P/Case Shiller home price index (March) 10 a.m. ET: Employment report: Non-farm payrolls and jobless rate (May) Looking back Last week, three Club holdings reported earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Next week promises any debt deal relief may prove short-lived with jobs report, Fed decision looming
▼ + stars: | 2023-05-26 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

"The overhangs on the market this year [are] the debt ceiling negotiation, hawkish Fed commentary and a banking crisis. It appears we are going to get a debt ceiling deal over the weekend, which should help the market to stabilize." The problem for many on the Street is the action in the S & P 500 Tech Index, up more than 5% this week; the Nasdaq Composite , ahead about 2.5%; and the S & P 500 , with a 0.3% gain, masks so much weakness beneath the surface. The S & P 500 consumer staples, materials, health care and utilities were all down between 2.4% and 3.2% this week, and the Dow Industrials were lower 1%. Although the S & P 500 is 9.5% higher so far in 2023, only a few stocks are doing well. "

☆ Here are Monday's biggest analyst calls: Tesla, Netflix, Zoom, Biogen, Okta, Amazon, HP Inc. & more
▼ + stars: | 2023-04-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

JPMorgan upgrades HP Inc. to overweight from neutral JPMorgan said in its upgrade of HP Inc . that it sees "resilient revenue and margins." JPMorgan upgrades Ollie's to neutral from underweight JPMorgan said it has more confidence in management's same-store sales guide. JPMorgan downgrades Dell to neutral from overweight JPMorgan said in its downgrade of Dell that HP Inc. is better positioned right now. JPMorgan reiterates Amazon as overweight JPMorgan said it came away "incrementally positive" from Amazon's investor letter last week. JMP downgrades Penn to market perform from market outperform JMP downgraded the stock mainly on valuation.

UBS says Okta 's "compelling mix of growth and improving profitability" is currently underappreciated by investors. The bank initiated coverage on Okta with a buy rating and a price target of $100, which implies 35% upside from Friday's closing price. However, the workforce identity software company's stock has dropped more than 48% over the past 12 months. UBS thinks Okta's margin expansion opportunity is not yet fully appreciated by investors. "Our Buy Rating and constructive view on Okta is predicated on the company's ability to accelerate growth in CY24 while continuing to deliver meaningful margin expansion.

☆ Stocks making the biggest moves midday: Alphabet, Charles Schwab, State Street, Moderna and more
▼ + stars: | 2023-04-17 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

State Street , M&T Bank – Shares of State Street dropped 11% after the company posted disappointing earnings and revenue. State Street posted earnings of $1.52 per share on revenue of $3.10 billion, while analysts called for per-share earnings of $1.64 and revenue of $3.12 billion, according to Refinitiv. Meanwhile, M&T Bank shares popped 5% higher after the bank reported beats on the top and bottom lines. Charles Schwab — Shares of Charles Schwab rose about 2.5% after the brokerage firm posted better-than-expected earnings on Monday. Schwab posted adjusted earnings of 93 cents per share, beating analysts' forecast of 90 cents per share, according to Refinitiv.

☆ Jim Cramer's top 10 things to watch in the stock market Friday: Stars of first quarter and Alphabet's AI risk
▼ + stars: | 2023-03-31 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

AI is a real problem for Club holding Alphabet (GOOGL), according to Piper Sandler, which lowers price target to $117 per share from $120. Raises price target to $75 per share from $72. Baird raises price target on Okta (OKTA) to $100 per share from $92. Morgan Stanley raises price target on e.l.f. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Could some cloud-based software stocks be getting back their mojo?
▼ + stars: | 2023-03-16 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCould some cloud-based software stocks be getting back their mojo? Mad Money host Jim Cramer talks to Okta CEO Todd McKinnon about the cloud-based software company's new focus on profitable growth.

☆ Dangers from Hacks Stretch Beyond Broken Computer Systems
▼ + stars: | 2023-03-15 | by ( James Rundle | Kim S. Nash | ) www.wsj.com time to read: +6 min

Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors. Part of the delay, he said, was in getting details from the cloud company, which he declined to name. Cybersecurity companies should be held to a higher standard than others in relaying information about hacks quickly and thoroughly, Mr. Toubba said. The lessons learned from cyberattacks can be just as important as how a company responds to a breach, security chiefs say. LastPass has also rolled out several security tools in its infrastructure, data center and cloud systems, Mr. Toubba said.

☆ Okta Is on Safer Ground Now
▼ + stars: | 2023-03-02 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Timing hasn’t been Okta ’s friend for a while, but that looks to be changing. The cloud software company that specializes in identity-management services for businesses had a rotten run of luck last year. A breach by the hacking group LAPSUS$, which posted screenshots online to boast of its accomplishment, worried Okta’s customers and shook the faith of investors after the company reported the incident in March. That roughly coincided with integration problems with the record-sized acquisition of Auth0 the year before, which caused particular upheaval in the combined company’s sales force. And all this was taking place during a global economic slowdown that was driving corporate customers to finally hit the brakes on technology spending.

☆ Stocks making the biggest moves midday: Silvergate Capital, Salesforce, Macy's, Okta and more
▼ + stars: | 2023-03-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Salesforce — Shares of the cloud software maker surged more than 10% after the company beat Wall Street estimates across the board in its quarterly report and issued a better-than-expected forecast. Wall Street analysts believe Salesforce's strong results are impressive given the activist pressure it's facing. Revenue came in line with Wall Street expectations at $8.26 billion. Okta – Okta shares jumped 9% after topping Wall Street's expectations for the recent quarter and issuing better-than-expected guidance for the current period. Box — The cloud content management platform's shares slid 14% following the company's fourth quarter results.

☆ Stocks making the biggest moves before the bell: Salesforce, Best Buy, Macy's and more
▼ + stars: | 2023-03-02 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Best Buy — The consumer electronics retailer shed 1.9% after its fiscal year earnings and revenue guidance came in lighter than expected. Best Buy said it expects a sales decline of 3% to 6% for the year, citing the macro environment. Macy's — The retailer advanced 7.3% after beating expectations on per-share earnings and meeting them on revenue, according to Refinitiv. JPMorgan downgraded the stock to neutral from overweight Thursday and said the company's expectations are too high. On Semiconductor — The semiconductor maker dropped 7.2% following a downgrade to outperform from strong buy by Raymond James.

☆ Top 10 things the Club is watching in the stock market Thursday: Bond yields pop, Salesforce supports Dow
▼ + stars: | 2023-03-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The Dow Jones Industrial Average looks like it's going to get spared because of the surge in Dow stock Salesforce (CRM). Snowflake (SNOW) drops more than 9.5% early Thursday, the morning after lowering its full-year product revenue guidance to 40% growth year over year from 47%. Dollar Tree (DLTR) downgraded to neutral at JPMorgan after the quarter; price target trimmed to $150 per share from $160. Canaccord downgrades to hold from buy; big catch-up price target cut to $9 per share from $25. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Here are Thursday's biggest analyst calls: Apple, Tesla, Snowflake, Salesforce, Nio, Nvidia & more
▼ + stars: | 2023-03-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan downgrades Nio to neutral from overweight JPMorgan said it sees too many challenges after the Nio's earnings report on Wednesday. JPMorgan downgrades Dollar Tree to neutral from overweight JPMorgan said it sees too many macro headwinds for the discount retailer. Morgan Stanley upgrades Pinduoduo to overweight from equal weight Morgan Stanley said the ag-tech company is a "long-term growth story." Morgan Stanley reiterates Liberty Formula One as overweight Morgan Stanley said it's bullish on shares of the auto racing company. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said competitors can't keep up after Tesla's investor day on Wednesday.

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