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- Yahoo Finance Video
AI investments are overtaking cloud migration: Analyst
Salesforce (CRM) stock is experiencing a decline on Thursday after the company reported first-quarter earnings on Wednesday, the cloud computing company disappointing on its second-quarter guidance. Salesforce posted its first revenue miss in nearly two decades, compounded by its guidance. RBC Capital Markets Software Equity Analyst Rishi Jaluria joins Catalysts to discuss his outlook on the software sector. Jaluria notes that Salesforce's performance showed "this is a tough environment that we're in," referring to macro conditions for the software landscape. He highlights that with the revenue miss and disappointing guidance, Salesforce is "skating that line of no longer being a double-digit grower anymore," causing investor concern and the subsequent stock plunge. Jaluria observes that as companies focus on generative AI and implementing and investing in an AI strategy, it is taking precedence over its cloud platform. He states, "CIOs are taking a look at their IT budgets and saying, 'Where can we scrutinize spend, what is truly necessary, where can we reduce costs?'" He later adds, "I think that is leading to a deprioritization of migration from the cloud." For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
- Yahoo Finance Video
Dow drops 411 points, HP Inc. CEO talks AI PCs: Market Domination Overtime
The trading day has come to a close, but that doesn't mean it's closing time for Yahoo Finance's Market Domination Overtime. Hosts Julie Hyman and Josh Lipton get you to the finish line at the closing bell where the Dow Jones Industrial Average (^DJI) fell by 411 points. In earnings news, Salesforce (CRM) shares are sinking in extended trading hours after the cloud computing giant reported mixed first-quarter results, the stock driven lower on its disappointing second-quarter forecasts. HP Inc. (HPQ) is seeing a boost from its narrow fiscal second-quarter earnings beat. HP Inc. (HPQ) CEO Enrique Lores sits down with Yahoo Finance Executive Editor Brian Sozzi to talk about the computer company's earnings and its future in the AI-powered PC market. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Salesforce stock is sinking on its Q2 earnings forecasts
Salesforce (CRM) shares are sinking after Wednesday's market close as the cloud computing company reported mixed first-quarter earnings results. Salesforce posted $9.13 billion in revenue ($9.15 billion expected) and gains of $2.44 per share ($2.38 per share expected). The downward stock pressure is heavily attributed to Salesforce's miss on second-quarter forecasts. The company is raising its full-year outlook Yahoo Finance's Julie Hyman and Josh Lipton weigh in on Salesforce's guidance and commentary from CEO Marc Benioff. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.
