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☆ Salesforce to acquire startup Own for $1.9 billion in cash
▼ + stars: | 2024-09-05 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Marc Benioff, CEO of Salesforce.com, speaks during a keynote at the Dreamforce 2023 conference in San Francisco on Sept. 12, 2023. Salesforce announced Thursday that it would pay $1.9 billion in cash for Own Co., a startup specializing in tools for backing up data in cloud-based applications. The startup, formerly known as OwnBackup, was valued at $3.35 billion in a 2021 funding round. Salesforce Ventures, the cloud software company's venture arm, invested in that round and earlier ones. WATCH: Salesforce CEO Marc Benioff goes one-on-one with Jim Cramer

Persons: Marc Benioff, Salesforce, MuleSoft, Benioff, we've, Jim Cramer Organizations: Salesforce.com, Own Co, Salesforce Ventures, Salesforce, Covid, Microsoft's Dynamics, Informatica Locations: San Francisco, Salesforce, Central

☆ AI will reshape the global labor force. Employers will need to help their workers keep up.
▼ + stars: | 2024-08-28 | by ( Tim Paradis | ) www.businessinsider.com time to read: +10 min

AdvertisementMissy Scalise has begun using AI to cut down on the amount of work she has to do after hours. In 2023, the World Economic Forum reported that employers expected 44% of workers' skills to be "disrupted" within five years. Another challenge with inserting AI into an organization is that it's often difficult to tell which skills workers possess and where they might need training. Charlotte Relyea, a senior partner at McKinsey & Co., believes that leaders need to plan now so they can better forecast the abilities workers will need. Leaders need to think about this as a transformation — what she described as "painting the picture of the future."

Persons: Missy Scalise, Ascension Saint, Suki, Scalise, Chesley Summar, Ravin, Mercer, Jesuthasan, It's, Jon Lester, Lester, it's, Julia Grace Samoylenko, Samoylenko, Gallup, Johnson, Elise Smith, Smith, They're, haven't, you've, Nathalie Scardino, Scardino, Charlotte Relyea, Relyea, she's Organizations: Ascension, International Monetary Fund, Economic, IBM, Johnson, Praxis Labs, Labs, McKinsey & Co, McKinsey Locations: Nashville, upskilling

☆ AI copilots are making internal breaches easier and costlier to defend against
▼ + stars: | 2024-08-23 | by ( Rachel Curry | ) www.cnbc.com time to read: +7 min

At least, that's what data security experts like Matt Radolec, vice president of incident response at data security company Varonis, say. "Copilots have pass-through permissions," Radolec said. There's also value in proceeding at a slow and steady pace with gen AI processes. Instead, Ensono is developing its own tool so the company can better enable and control its data security. Gen AI has made cybersecurity mistakes costlier, and insiders now pose a bigger threat — malicious or otherwise — than ever before.

Persons: Matt Radolec, GitHub, Salesforce's Einstein, Radolec, it's, they've, Shawnee Delaney, Uber, Delaney, Meredith Graham, I'm, Graham, costlier Organizations: Istock, Getty, Vaillance Group, Defense Intelligence Agency, Merck, Microsoft Locations: —

☆ Employee Well-Being Programs Can Help Companies Perform Better
▼ + stars: | 2024-07-24 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +9 min

With a new generation of workers bringing fresh sensibilities and an increasing desire for work-life balance and mental-health support, organizations across the US are scaling up employee well-being programs to meet the demands of the post-pandemic era. Companies need to achieve a balanced mix of well-being offerings to address the shifting needs of their workers, Tharpe said. A retention tool that reinforces company valuesTharpe said many companies view well-being benefit programs as a strategic tool to reinforce the organization's values and make it more attractive as an employer. Combating healthcare costs, boosting mental healthSome companies are adopting well-being initiatives to confront mounting healthcare costs, with the added benefit of improving mental-health support for their employees. AdvertisementChildren's Mercy Kansas City, a pediatric-health facility in Missouri, also made mental health and well-being initiatives a priority for its staff following the pandemic.

Persons: Wellable, they're, Charlie Tharpe, Tharpe, Stephanie Harvie, Harvie, L.L.Bean, WWT, John Rocco, Rocco, Stephanie Burrus, Burrus, VTO, Molly Q, Ford, Salesforce Organizations: Companies, Boston University's Questrom School of Business, WWT, Children's, Research Locations: Maine, St, Louis, Kansas City, Missouri, San Francisco

☆ Cramer's Lighting Round: Pinterest is a buy
▼ + stars: | 2024-07-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Salesforce's year-to-date stock performance. Stock Chart Icon Stock chart icon ADMA Biologics' year-to-date stock performance. Stock Chart Icon Stock chart icon Ouster's year-to-date stock performance. Stock Chart Icon Stock chart icon Vertiv's year-to-date stock performance. Stock Chart Icon Stock chart icon Pinterest's year-to-date stock performance.

Persons: It's, ADMA Biologics, ADMA, it's, Suncor, Jim Cramer's Organizations: Suncor

☆ How CEOs like Bernard Arnault and Tim Cook decorate their offices
▼ + stars: | 2024-07-07 | by ( Jordan Hart | ) www.businessinsider.com time to read: +5 min

Read previewFrom priceless artwork to "Star Wars" memorabilia, you can tell a lot about a chief executive by how they decorate their office. Their high salaries, and even higher net worths, mean CEOs have the power to deck their workspaces out with more than everyday knickknacks. Here's how they decorate the spaces where they run their companies,AdvertisementBernard ArnaultLVMH CEO Bernard Arnault's office design matches the luxury empire her runs. ERIC PIERMONT/AFP/Getty ImagesWith a net worth of $201 billion, according to Bloomberg, LVMH top boss Bernard Arnault has very expensive taste. Tim CookApple CEO Tim Cook pays homage to Robert F. Kennedy with his office decor.

Persons: —, Mark Zuckerberg, Salesforce's Marc Benioff, Bernard Arnault, Bernard Arnault's, ERIC PIERMONT, Louis Vuitton, Dom Pérignon, Dior, Andy Warhol, Tim Cook, Robert F, Kennedy, Justin Sullivan, Jenny Chang, Rodriguez, Cook, Marc Benioff, Kevin Dietsch, Forbes, Benioff, Princess Leia, Darth Maul, Sully, Mark Zuckerberg Mark Zuckerberg, Jeff Bottari, Zuckerberg, didn't, We've, it's Organizations: Service, Business, Getty, Bloomberg, Eiffel, Apple, Auburn University, UFC, Facebook Locations: AFP, Paris, Alabama, Cupertino, mater, Hawaii, San Francisco, Las Vegas

☆ Elon Musk got his big payday. But Salesforce's Marc Benioff might not be so lucky.
▼ + stars: | 2024-07-02 | by ( Meghan Morris | ) www.businessinsider.com time to read: +1 min

Salesforce shareholders rejected the company's proposed compensation plan for top executives. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Salesforce CEO Marc Benioff is likely not dancing this week. The company said in a regulatory filing on Monday that a slim majority — 53% — of shareholder votes were cast against the proposed compensation plan for Benioff and other top executives. This story is available exclusively to Business Insider subscribers.

Persons: —, Elon, Marc Benioff Organizations: Service, Business

☆ Salesforce shareholders reject compensation plan for CEO Marc Benioff, other top execs
▼ + stars: | 2024-07-01 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Salesforce investors voted against the company's compensation plan for top executives, after shareholder advisory groups raised concerns about equity awards granted to CEO Marc Benioff. According to a regulatory filing on Monday, the resolution to approve the compensation received 339.3 million votes in favor and 404.8 million against at the annual meeting held on Thursday. For the 2024 fiscal year, Benioff received $39.6 million in total pay, up from $29.9 million in the prior year. While Benioff's salary was flat at $1.55 million, he received additional stock and option awards and non-equity incentive plan compensation, according to the proxy statement. Benioff was already among the largest holders of Salesforce, with a stake of over 2% valued at close to $6 billion.

Persons: Marc Benioff, Glass Lewis, Benioff, didn't, Salesforce Organizations: Institutional, Services

☆ He dropped out of Princeton and wrestles with imposter syndrome. Inside the unusual rise of a Wall Street tech banker.
▼ + stars: | 2024-06-28 | by ( Emmalyse Brownstein | Bianca Chan | ) www.businessinsider.com time to read: +12 min

Read previewAs a kid, Rob Chisholm was not drawn to the fast-paced, jet-setting life of a Wall Street banker. Well, maybe if I wanted to be an investment banker or something, I would care about that, Chisholm remembers thinking. Chisholm, on the other hand, is very open about his unorthodox path to Wall Street and the resulting feelings of being an outsider. AdvertisementWhen Chisholm was in college, he rejected the "cliche" of going to an Ivy League and getting a job on Wall Street. At the time, Chisholm admitted, Wall Street seemed like the "complete opposite in terms of the culture and the incentives" he thought he wanted.

Persons: —, Rob Chisholm, Chisholm, Goldman Sachs, Frank Quattrone, Eager, dealmakers, he's, Wall, Goldman, I've Organizations: Service, Wall Street, Princeton, Business, Ivy League, Citi, Qatalyst Partners, Middlesex, Princeton's, Middlebury College, ACG Partners, Deutsche Bank, Investment Locations: Canada, Antigonish, Nova Scotia, Massachusetts, Vermont, Boston, San Francisco, tooting

☆ Here are the portfolio's top 5 performing stocks since May's Monthly Meeting
▼ + stars: | 2024-06-27 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

The stock market had another great run since the Club's May Monthly Meeting. Here's our top-five performing portfolio names since the May 30 close through Wednesday's close, the eve of our June Monthly Meeting. AVGO YTD mountain Broadcom (AVGO) year-to-date performance Broadcom took the top spot since the May Monthly Meeting, jumping 16.7% in that timeframe. And on Wednesday, the stock mounted a late-day comeback to close up 0.25% on the day of its annual shareholder meeting. Even with their recent comeback, Salesforce shares are down more than 10% from their close May 29.

Persons: —, We're, It's, Salesforce, Snowflake —, we've, Davidson, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Federal Reserve, Nasdaq, Club, Nvidia, Broadcom, dethroning Club, Microsoft, Tuesday's, Apple Intelligence, Apple, Rosenblatt Securities, Networks, Palo Alto, CNBC, Traders, New York Stock Exchange Locations: Wednesday's, China, Palo, New York City

☆ UK tech bosses urge focus on AI skills and growth in high-stakes election — no matter who wins
▼ + stars: | 2024-06-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Pa Images | Getty ImagesLONDON — British technology executives and entrepreneurs want the next government to focus on promoting skills around the development and use of artificial intelligence and growth-oriented fiscal measures. Upskilling in an AI ageOne thing U.K. tech executives are pushing for is fostering innovation in artificial intelligence and cultivating citizens' grasp on AI-centric skills — across multiple generations. Last month, dozens of business executives, entrepreneurs, and investors signed an open letter stating their support for Labour in the upcoming election. Leon Neal | Getty Images News | Getty ImagesSignatories included several influential names in the world of U.K. tech: Wikipedia founder Jimmy Wales, Founders Forum co-founder Jonathan Goodwin, and Atom Bank CEO Mark Mullen. Tech bosses CNBC spoke with found themselves unable to point to specific policies and plans from either of the main political parties.

Persons: Rishi Sunak, Sir Keir Starmer, Keir Starmer, Zahra, Salesforce, Einstein, Astro, Matthew Houlihan, Rachel Reeves, Angela Rayner, Leon Neal, Jimmy Wales, Jonathan Goodwin, Mark Mullen, Sunak, Liz Truss, Jeremy Hunt, Danny Lawson, Rishi Khosla, Khosla Organizations: Conservatives, Labour Party, LONDON, it's, Labour, CNBC, Innovation, Cisco, coy, Centre, Getty, Founders Forum, Atom Bank, BAE Systems, Tech Locations: Downing, Salesforce's, Europe, Purfleet, United Kingdom, Ukraine, British, Barrow, Furness, England

☆ Salesforce to open new AI center in London as part of $4 billion UK investment
▼ + stars: | 2024-06-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Gary Hershorn | Getty ImagesLONDON — Enterprise tech giant Salesforce is opening an artificial intelligence center in London, making a bullish bet on the U.K. as a global technology hub. Salesforce said it expects the AI center to play a role in creating 500,000 AI-related jobs in the U.K. $4 billion investment in UKThe AI center forms part of a $4 billion investment in the U.K., which Salesforce committed to make over five years in 2023. In addition to announcing the opening of its AI center, Salesforce also revealed that it had invested more than $200 million into U.K. startups via its venture capital arm, Salesforce Ventures. Salesforce reported revenue of $9.13 billion for the period, up 11% from a year ago but below analyst expectations of $9.17 billion.

Persons: Gary Hershorn, Salesforce, Zahra Bahrololoumi, Aston Martin, McLaren, John Lewis, Salesforce's, Salesforce's Bahrololoumi Organizations: Getty, Enterprise, Salesforce Ventures, Labs Locations: New York City, London, U.S, Ireland

☆ ValueAct increases Salesforce stake to nearly $1 billion, sending shares up
▼ + stars: | 2024-06-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Mason Morfit, Salesforce board member and co-CEO of activist investor ValueAct, has increased his stake in Marc Benioff's software firm to just under $1 billion, acquiring $99 million worth of shares earlier this week, just days after the company reported its first revenue miss since 2006. The trade was disclosed in a regulatory filing Thursday, sending Salesforce shares up around 3.5% on the news in morning trading. The other activists eyeing Salesforce at the time included Elliott Management, Dan Loeb's Third Point, and Starboard Value. Earlier this year, Salesforce's widely reported pursuit of data management firm Informatica sent shares see-sawing before the putative target said it was not considering a sale. Salesforce shares briefly eclipsed their previous 2021 highs earlier this year, but have since given back those gains and are down 4% year-to-date.

Persons: Mason Morfit, ValueAct, Marc Benioff's, Morfit, Benioff's, eyeing Salesforce, Elliott, Dan Loeb's, Benioff, Salesforce's, Jeff Ubben, Bob Iger, Trian's Nelson Peltz, Ike Perlmutter, Salesforce Organizations: ValueAct, Elliott Management, Informatica, Microsoft, Marvel Locations: New York, U.S, Benioff

☆ CEOs of General Motors, Salesforce among corporate insiders selling stock last month
▼ + stars: | 2024-06-03 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Barra sold more than $27 million worth of stock on May 28, joining several other GM insiders who have done similar trades this year. Meanwhile, Benioff sold more than $12 million worth of shares over the course of several days. Salesforce CEO Benioff sold 45,000 shares at an average price of $270.70 for a total of $12.18 million. The biggest move came from two insiders at a small investment firm — Oxford Lane Capital — who combined to buy $50 million worth of the stock. Claros Mortgage CEO Richard Mack bought 160,000 shares at an average price of $7.20 for a total of $1.15 million.

Persons: Mary Barra, Marc Benioff, Barra, Benioff, execs, Verity, Salesforce's, General Motors CEO Barra, Anthony Casalena, Brice Hill, Gerald Morgan, Cameron Breitner, Jonathan Cohen, Saul Rosenthal, Joseph Adams Jr, John Rakolta Jr, Richard Mack, —, Nick Wells Organizations: VerityData, General Motors CEO, Texas, Lane Capital —, Capital Partners, Oxford Lane Capital, FTAI Aviation, Petco, Wellness, Claros Locations: 10b5

☆ A juggernaut of the stock market's growth has hit a wall — buy these stocks instead
▼ + stars: | 2024-06-02 | by ( Jim Cramer | ) www.cnbc.com time to read: +12 min

How much do we pay for an enterprise software business that may have hit the wall, suddenly slowing down to sales growth in the high single digits from growth in the double digits? But Salesforce is the most glaring of the enterprise software behemoths, which include ServiceNow , Adobe , Workday , SAP , Intuit , and fallen star MongoDB . Or to put it another way, Salesforce needs its clients to hire more people to increase sales growth. SaaS is another form of enterprise software, is another form of applications software, is another form of kryptonite. Of course, there will be enterprise software companies that defy the slowdown.

Persons: Marc Benioff, Dow Jones, Salesforce, Ullal, Jensen Huang, that's, Thoma, —, Elon Musk's, Wells, It's, Charlie Scharf, Goldman Sachs, Dan Schulman, Bill Ready, Stanley Black, Decker, Jim Cramer's, Jim Cramer, Jim, Marlena Sloss Organizations: Oracle, Dow, Adobe, SAP, Intuit, Mad, Arista Networks, Microsoft, Nvidia, Arm Holdings, Thoma Bravo, Taiwan Semiconductor, Indy, Federal, Paypal, Fed, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: Norfolk Southern, Wells Fargo, Wells, Dover, Informatica

☆ Jobs data will steal the spotlight next week. What to watch for in 3 key labor reports
▼ + stars: | 2024-06-01 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

In this way, the nonfarm payroll report also offers clues on the near-term path of inflation. As always, payroll processing firm ADP will release its May private-sector jobs report before the government's nonfarm payroll report. On Tuesday, we'll get the latest JOLTS data, shorthand for the Job Openings and Labor Turnover Survey conducted by the Labor Department. Earnings A few noteworthy earnings reports set for next week include CrowdStrike and Hewlett Packard Enterprise after the close on Tuesday. A report released by the Bureau of Labor Statistics showed the US economy added 311,000 jobs in February.

Persons: industrials, Eaton, Locker, Salesforce, we've, FactSet, Dow Jones, we'll, Ferguson, OLLI, Campbell Soup, Brown, Forman, LULU, JM Smucker, Jim Cramer's, Jim Cramer, Jim, Joe Raedle Organizations: Nasdaq, Dow Jones, Federal, Energy, Coterra Energy, Palo Alto Networks, Broadcom, Microsoft, Costco, Labor, Labor Department, Institute for Supply, Hewlett Packard Enterprise, Body, Donaldson Company, DCI, Brands, Natural Foods, THOR Industries, ABM Industries, Vail Resorts, MTN, NGL Energy, Jim Cramer's Charitable, CNBC, Bureau of Labor Statistics, Getty Locations: Chicago, Palo, U.S, Bath, Toro, Miami , Florida

☆ Salesforce is the most oversold stock on Wall Street amid a losing week for the markets
▼ + stars: | 2024-05-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Dow member Salesforce dropped about 19% during the week, which made it the most oversold stock in the market. With this in mind, CNBC Pro screened for the most overbought and oversold stocks on Wall Street as measured by their 14-day relative strength index, or RSI. Stocks with a 14-day RSI below 30 are considered oversold, suggesting shares may be due for a comeback. On the other hand, a 14-day RSI higher than 70 indicates a stock is overbought and may soon pull back. Biopharmaceutical company Bristol-Myers Squibb was the second-most oversold stock of the week.

Persons: Salesforce, Goldman Sachs, Morgan Stanley, Myers Squibb, Meyers, Ralph Lauren Organizations: Federal, Nasdaq, Dow Jones, Dow, Investors, CNBC Pro, Wall Street, LSEG, Meyers Squibb, Tech, HP Locations: Bristol

☆ Analysts defend Salesforce, saying the sell-off is overdone and AI impact is ahead
▼ + stars: | 2024-05-30 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Even a sharp sell-off in Salesforce stock Thursday — down as much as 21% intraday — isn't keeping some analysts on Wall Street from sticking with their optimistic outlooks on the maker of customer relationship management software. Salesforce executives tied the disappointing results to elongated deal cycles throughout the first quarter that hit the company's booking schedule. Weiss reiterated an overweight rating on Salesforce, albeit with a $320 per share price target, down from $350. Goldman Sachs analyst Kash Rangan reiterated a buy rating on Salesforce stock, but lowered his price target to $315 per share from $345. The analyst reiterated an overweight rating on the stock with a $300 per share price target, or about 10% upside from yesterday's close.

Persons: Goldman Sachs, Morgan Stanley, JPMorgan Chase, Keith Weiss, Weiss, Kash Rangan, Rangan, Mark Murphy, Tyler Radke, Radke Organizations: Wall, JPMorgan, Citigroup Locations: Salesforce, CY25

☆ Why Wedbush's Dan Ives is staying bullish on Salesforce despite first revenue miss since 2006
▼ + stars: | 2024-05-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy Wedbush's Dan Ives is staying bullish on Salesforce despite first revenue miss since 2006Dan Ives, Managing Director of Equity Research at Wedbush, discusses Salesforce's stock plunge following its first revenue miss since 2006.

Persons: Dan Ives Organizations: Equity Research, Wedbush

☆ Salesforce shares tumble 20%, on pace for worst day since 2004
▼ + stars: | 2024-05-30 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Photographer: David Odisho/Bloomberg via Getty ImagesShares of Salesforce tumbled 20% Thursday morning, putting the stock on pace for its worst day in nearly 20 years. Its worst trading day on record is July 4, 2004, when shares fell 27% just days after the company went public. Salesforce expects second-quarter adjusted earnings per share of $2.34 to $2.36 on $9.2 billion to $9.25 billion in revenue. Goldman Sachs analysts reiterated their buy rating on the stock and said they view Salesforce as a "high-quality software franchise." Goldman Sachs analysts said in a note Wednesday that Salesforce is "an under-appreciated Gen-AI winner."

Persons: Marc Benioff, Benioff, David Odisho, Salesforce, LSEG, Salesforce's, Goldman Sachs, Morgan Stanley, — CNBC's Michael Bloom, Jordan Novet Organizations: Salesforce.com Inc, Bloomberg, Getty, Citi Locations: San Francisco , California, Francisco's

☆ Salesforce's plunge doesn't deter bull case for stock, says Citizens JMP's Patrick Walravens
▼ + stars: | 2024-05-30 | 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 EmailSalesforce's plunge doesn't deter bull case for stock, says Citizens JMP's Patrick WalravensPatrick Walravens, director of technology research at Citizens JMP, joins "The Exchange" to break down Saleforce's stock slump.

Persons: JMP's Patrick Walravens Patrick Walravens Organizations: Citizens

☆ Market is in the 'digestion phase' of new software applications, says Jefferies' Brent Thill
▼ + stars: | 2024-05-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket is in the 'digestion phase' of new software applications, says Jefferies' Brent ThillBrent Thill, Jefferies tech sector leader, joins 'Squawk on the Street' to discuss what happened with Salesforce's quarterly earnings results, where Salesforce will be spending more of its capital, and much more.

Persons: Jefferies, Brent Thill Brent Thill Organizations: Jefferies

☆ Salesforce plunges 21% after it reports its first revenue miss since 2006
▼ + stars: | 2024-05-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Salesforce stock plunged 21% after the company reported its first revenue miss since 2006. AdvertisementSalesforce stock plunged as much as 21% on Thursday after the company reported its first revenue miss since 2006. Here are the key numbers:AdvertisementQ1 Revenue: $9.13 billion, versus analyst estimates of $9.17 billion$9.13 billion, versus analyst estimates of $9.17 billion Q1 Adjusted earnings per share: $2.44, versus analyst estimates of $2.38$2.44, versus analyst estimates of $2.38 Q2 Revenue guidance: $9.2 billion to $9.25 billion, versus analyst estimates of $9.37 billion"Macro headwinds returned with a vengeance," analysts at Citi said in a note on Thursday. AdvertisementGoldman Sachs reiterated its "Buy" rating on Salesforce and categorized the weakness in the company's results as "cyclical headwinds" that should ultimately dissipate. AdvertisementCiti reiterated its "Neutral" rating and took a more cautious view on Salesforce following their results.

Persons: —, Goldman Sachs, Dan Ives, Ives Organizations: Service, Citi, Bank of America, Sales

☆ Salesforce shares plunge on first revenue miss since 2006: Here's what to know
▼ + stars: | 2024-05-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSalesforce shares plunge on first revenue miss since 2006: Here's what to knowBrian Schwartz, Oppenheimer senior analyst and managing director, joins 'Squawk Box' to break down Salesforce's quarterly earnings results, which reported weaker-than-expected revenue and issued guidance that trailed Wall Street’s expectations, impact of the company's AI offering, and more.

Persons: Brian Schwartz, Oppenheimer

☆ After revenue miss, Salesforce CEO details the 'measured' buying environment for enterprise software companies
▼ + stars: | 2024-05-29 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

After Salesforce posted its first revenue miss since 2006, CEO Marc Benioff told CNBC's Jim Cramer how the market for enterprise software companies has changed since the pandemic. The reality is, you're going to have heterogeneous buying environments, it's going to happen," Benioff said. "And we're in this post-pandemic reality where the buying environment has — and we've talked about this now for a few quarters — been very measured for enterprise software companies. Benioff said that during the pandemic, companies "aggressively" bought enterprise software. "It's been a complete financial transformation," Benioff said.

Persons: Salesforce, Marc Benioff, CNBC's Jim Cramer, Benioff, we've, Wednesday's, they've, he's, It's, it's Organizations: FedEx, Air India

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