DIRS.INFO The most relevant business & tech news

☆ Upgrades to keep the US military's oldest bombers — its B-52s — flying for a century are running into delays and rising costs, watchdog finds
▼ + stars: | 2024-06-21 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

AdvertisementThat's three years later than the Air Force planned to have the re-engined planes operating. U.S. Air Force photo by Tech. A U.S. Air Force B-52H Stratofortress assigned to the 20th Expeditionary Bomb Squadron at Barksdale Air Force Base, Louisiana, arrives on the flightline August 4, 2023, as part of a Bomber Task Force mission at Andersen Air Force Base, Guam. The Air Force plans to keep the planes in service until 2050, almost 100 years after the first B-52 entered service. The Air Force continues to rely on the B-52s for long-range strategic bomber missions, even though they lack the speed of the B-1 Lancers and the stealth of the B-2 Spirits.

Persons: —, Joshua J, Garcia, Nia Jacobs Organizations: Service, US Air, Business, Air Force, Royce, Pilots, 2nd Bomb, RAF Fairford, U.S . Air Force, Tech, Inside Defense, Department of Defense, 20th Expeditionary Bomb, Barksdale Air Force Base, Bomber Task Force, Andersen Air Force Base, The Air Force, Lancers Locations: United Kingdom, Louisiana, Guam, U.S, Arizona

☆ The US Air Force says the military's new dogfighting AI fighter jet pilot is making 'dramatic' advances from one test to the next
▼ + stars: | 2024-06-20 | by ( Chris Panella | ) www.businessinsider.com time to read: +7 min

Read previewLast month, two US Air Force fighter jets battled in the skies above California in an intense dogfight. AdvertisementCol. James Valpiani, Air Force Test Pilot School commandant, provides final points of instruction to Secretary of the Air Force Frank Kendall during his visit to Edwards Air Force, California, May 2. But throughout all of this, the AI pilot, named Hivemind, has been maturing quicker than expected. The X-62 Variable In-Flight Simulator Test Aircraft (VISTA) flies in the skies over Edwards Air Force Base, California, Aug. 26, 2022. Footage from the real-world test of a dogfight between an AI-controlled fighter and a manned fighter.

Persons: —, James Valpiani, Frank, Kendall, Valpiani, Frank Kendall, It's, Ryan Tseng, Tseng, Air Force Frank Kendall, James West Tseng, Ryan Hefron, Hefron, Kyle Brasier, Giancarlo Casem Organizations: Service, US Air Force, Air Force, Defense, Research, Business, An Air Force, Air, Edwards Air Force Base, U.S . Air Force, Edwards Air Base, United States Air Force, Edwards Air Force, DOD, DARPA, Shield, Aircraft, USAF, Israel Defense Forces, DoD Locations: California, Calif, China, Gaza

☆ The new Air Force One won't fly until 2026 — 3 years after the military Boeing 747 was supposed to first take flight
▼ + stars: | 2024-06-20 | by ( Taylor Rains | Jake Epstein | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewBoeing and the Trump Administration struck a $3.9 billion deal in 2018 to replace the country's aging 747 presidential fleet with two new Air Force One planes. AdvertisementAt the time, the USAF provided a one-year buffer for the planes' delivery, pushing the second's delivery to as late as 2028. In 2022, the Wall Street Journal reported that continuing to fly the old fleet may cost taxpayers $390 million. The new VC-25B program, based on the 747-8i, will replace the Air Force's current VC-25A fleet.

Persons: —, Dave Calhoun Organizations: Service, Boeing, Trump Administration, Air Force, Breaking Defense, Business, USAF, Business Insider, Wall Street Journal, Air Force's, Department of Defense

☆ Children with high BMIs should not use obesity medications like WeGovy, US doctors warn
▼ + stars: | 2024-06-19 | by ( Julia Naftulin | ) www.businessinsider.com time to read: +4 min

Read previewWith weight-loss drugs like WeGovy and Ozempic dominating many of today's consumer healthcare conversations, there's a mounting concern for a particularly vulnerable group: children. In January 2023, the American Academy of Pediatrics (AAP) recommended that healthcare providers offer weight-loss medications, in addition to lifestyle adjustments, to treat obesity in children 12 and older. And in addition, there was limited evidence on weight loss maintenance after medications were discontinued in children," Nicholson said. These injectable drugs have proven successful as weight-loss interventions for adults with obesity, early research shows. Nicholson said clinicians have used lifestyle interventions, like nutrition and exercise plans, to help children with obesity lose weight and reduce risk factors like hypertension, diabetes, and liver disease.

Persons: —, Eli Lilly, Hilary Brueck, Wanda Nicholson, Nicholson, Amanda Staiano, Staino Organizations: Service, Pharmaceutical, Novo Nordisk, Business, American Academy of Pediatrics, US Preventive Services, Force, George Washington University School of Public Health, FDA, Pennington Biomedical Research, of Louisiana State University Locations: Pennington

☆ Israeli military knew how Hamas planned to take hostages weeks before October 7: report
▼ + stars: | 2024-06-17 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

Read previewThe Israeli military knew about Hamas' plans to attack southern Israel weeks before October 7 — even how many hostages the militant group planned to capture, according to a report from Israeli public broadcaster Kan. The officials even had intel on how Hamas intended to treat the hostages in certain extreme circumstances and what rules Hamas set for executing hostages, Kan reported. That oversight prevented top Israeli intelligence leaders from doing anything about the internal report detailing Hamas' plans, Kan News reported. Hamas militants attacked southern Israel on October 7, killing 1,200 people and taking hundreds hostage, many of whom are still being held in captivity. The exact number of hostages Hamas took is unclear, but Israel has estimated it was around 240, with about 116 still in Gaza, the Wall Street Journal reported.

Persons: —, Kan, Israel, Israel's Organizations: Service, Kan, Israel Defense Force's, Business, Southern Command, Gaza, intel, Kan News, The New York Times, Hamas, Times, Wall Street Journal Locations: Israel, Israel Defense Force's Gaza, Gaza, The

☆ Ukraine proves it can target the Russian air force's weakest link
▼ + stars: | 2024-06-16 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

AdvertisementBut these were pinprick attacks designed to embarrass the Kremlin and demonstrate that nowhere in Russia is safe from Ukrainian attack. The aircraft didn't appear to catch on fire, suggesting the damage wasn't catastrophic, perhaps to be expected from small drones with small warheads. The Akhtubinsk attack suggests that Russian electronic warfare capacity has sufficient breadth to cover the front, but not depth to protect the Russian interior. Much like Russia's vaunted T-14 Armata, the Su-57 has been conspicuous by its absence from the Ukraine war. AdvertisementEven with American-made F-16 fighters arriving soon, Ukraine's air force probably can't drive off Russian jets lobbing glide bombs from 50 miles behind Russian lines, safe behind ground-based air defenses.

Persons: Justin Bronk, Bronk, Su, Michael Peck Organizations: Service, Russian Air Force, Kyiv, Royal United Services Institute, Russian, NATO, West, Stealth, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Russia, British, Ukraine, Ukrainian, Volgograd, Stalingrad, Russian, Forbes

☆ 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

☆ D-Day was the largest amphibious invasion in history — and likely the last. Here's why.
▼ + stars: | 2024-06-06 | by ( Michael Peck | ) www.businessinsider.com time to read: +9 min

D-Day is more than the largest amphibious invasion in history. The US Navy now aims for enough amphibious capacity to land just two Marine brigades on a hostile shore. Universal History Archive/UIG via Getty ImagesIn World War II, the best way to stop an amphibious invasion was before the first troops stepped onto the beach. If the defender's navy and air force could destroy or turn back an invasion fleet, the landing would never take place. An enemy that has these can threaten the invasion armada and the landing force it launches as it chugs to the beach.

Persons: Ryan, Hitler, Michael Peck Organizations: Service, US Army, British Army, Navy, Royal Navy, Royal Canadian Air Force's, Hornet, Allies, US Navy, US Air Force, 82nd Airborne, US Troops, Getty, Luftwaffe, Allied, Spy, Argentine Air Force, Russian Navy, Helicopters, U.S . Navy, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Normandy, Europe, Britain, Omaha, Russo, Ukraine, Soviet, Pacific, Sicily, Salerno, Anzio, Omaha Beach, Russia, China, Iran, North Korea, Ukrainian, Bikini, Hiroshima, Nagasaki, Forbes

☆ 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

☆ 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

☆ If the US doesn't win the electronic warfare fight, the joint force will 'lose' and 'lose very quickly,' Air Force commander says
▼ + stars: | 2024-06-05 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

Read previewFuture wars could be decided by electronic warfare like Russia and Ukraine are using right now to interrupt communications, defeat unmanned platforms, and even degrade precision weaponry. For the US, if it doesn't dominate that invisible domain and win the fight in the electromagnetic spectrum, it will "lose" and do so "very quickly," an Air Force wing commander said. Gen. Ed Barker, the Program Executive Officer for Intelligence, Electronic Warfare and Sensors, and US Air Force Col. Josh Koslov, commander of the 350th Spectrum Warfare Wing, discussed the challenges facing the US in the electronic warfare space and the efforts to find solutions to these problems. Related VideoA man holds a portable electronic warfare system at an event in Ukraine earlier this year. Increased US interest in it more recently has been driven by the ongoing conflict in Ukraine, where electronic warfare tactics, such as GPS spoofing and signal jamming, have shaped the fighting.

Persons: —, Ed Barker, Josh Koslov, Koslov, Barker, Simon Mictizic, it's, Daniel Patt, YURIY DYACHYSHYN, Patt, Denis Abramov Organizations: Service, Air Force, Business, C4ISRNET Conference, US, Intelligence, Electronic Warfare, US Air Force, 350th Spectrum Warfare, Getty, US Army's 1st Infantry Division, US Army, Staff, Hudson Institute, JDAMs . Volunteers, Ukrainian, Kvertus, Russian Defense Ministry, Mil.ru Locations: Russia, Ukraine, China, JDAMs, Lviv region, AFP, Russian

☆ 'TikTok got me a job I love': How Gen Z and Millennials use the social media platform to launch careers
▼ + stars: | 2024-06-04 | by ( Morgan Smith | ) www.cnbc.com time to read: +8 min

In 2024, Gen Z workers are expected to outnumber baby boomers in the American labor force for the first time. CNBC Make It explores how Gen Zers are really putting their mark on career advice, office culture and more. Much of the advice is geared toward Gen Z and younger millennials figuring out their place in a chaotic post-pandemic work landscape. Much of the career advice on TikTok echoes the tips shared in podcasts, YouTube videos and LinkedIn thought pieces. It's just the aesthetics and format that are different — and more appealing — to Gen Z.

Persons: Jade Walters, TikTok, Gen, Zers, Baron Leung didn't, Leung, Weeks, Baron Leung, it's, jobseekers, Z, Joe Biden, It's, Walters, I've, Gen Z, Grace Dunlavy, Dunlavy, New York — Organizations: CNBC, LinkedIn, Zenith, Pew Research Center, Howard University, Saint Louis University Locations: Toronto, U.S, Chicago, New York

☆ 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

☆ Gen Z is finding career advice, dream jobs and even getting hired on TikTok: It's 'the most accessible resource'
▼ + stars: | 2024-05-31 | by ( ) www.cnbc.com time to read: +9 min

CNBC Make It explores how Gen Zers are really putting their mark on career advice, office culture and more. But it's also become a popular destination for young jobseekers seeking career advice and opportunities. Much of the career advice on TikTok echoes the tips shared in podcasts, YouTube videos and LinkedIn thought pieces. The career confidante for Gen ZTikTok is often the first place Grace Dunlavy will go for career advice. The drawbacks of getting career advice on TikTok

Persons: Jade Walters, Gen, Zers, Baron Leung didn't, Leung, Weeks, TikTok, Baron Leung, it's, jobseekers, Z, Joe Biden, It's, Walters, I've, Gen Z, Grace Dunlavy, Dunlavy, New York — Organizations: TikTok, CNBC, LinkedIn, Zenith, Pew Research Center, Howard University, Saint Louis University Locations: Toronto, U.S, Chicago, New York

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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

☆ 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 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

☆ We're cutting our price target on Salesforce after mixed earnings, soft guidance
▼ + stars: | 2024-05-29 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

The company's balance of margin expansion with the potential for faster top-line growth should lead to strong earnings growth. Non-GAAP operating margin benefited from the lower cost of revenues, sales and marketing, and general and administrative expenses. Management reduced its revenue growth forecast for the subscription and support business to slightly below 10% over last year. The adjusted operating margin target of 32.5% was reaffirmed and is in line with expectations. For the second quarter, Salesforce estimates revenues of $9.2 to $9.25 billion, below the $9.345 billion estimate.

Persons: Salesforce isn't, Brian Millham, Marc Benioff, we've, Salesforce, That's, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, LSEG, SAP, Microsoft, Nvidia, CRM, Management, buybacks, CNBC, Bloomberg, Getty Locations: San Francisco , California, U.S

Search resuls for: "force's"

25 mentions found