Ali Ghodsi, co-founder and CEO of Databricks, speaks at the company’s Spark and AI Summit in San Francisco in April 2019. Databricks Data analytics software maker Databricks said in a statement on Tuesday that it’s acquiring Tabular, a startup that helps optimize data stored in the cloud. The gesture could help Databricks more quickly bring … Read more
We danced around it all week. We called out the many culprits for Salesforce’s weak quarterly results on Wednesday — and subsequent stock plunge — including an elongated sales cycle, a measured economic environment, and the need for more senior executives to check off on products. But one we didn’t call out was the law … Read more
Despite a late-session surge Friday, all three major U.S. stock indexes ended the holiday-shortened trading week in the red, putting an end to the Nasdaq Composite and S & P 500 ‘s five-week winning streaks. The Dow Jones Industrial Average fell for the second straight week. The declines came as first-quarter earnings season inched closer … Read more
Salesforce executives told investors that deals are shrinking or getting delayed. Dell said its margin is getting smaller. Okta highlighted macroeconomic challenges. And Veeva’s CEO said on his company’s earnings call that generative artificial intelligence has been “a competing priority” for customers. Add it all up and it was a brutal week for software and … Read more
MongoDB CEO Dev Ittycheria. Scott Mlyn | CNBC MongoDB stock sank as much as 26% in extended trading on Thursday after the database software maker issued light guidance for the quarter and reduced its forecast for the full fiscal year. Here is how the company did, compared to the LSEG consensus: Earnings per share: 51 … Read more
An Exxon gas station sign is seen on October 06, 2023 in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images Four years ago, Exxon Mobil’s reign as the longest serving component in the Dow Jones Industrial Average came to an abrupt end, when the oil major was replaced by Salesforce … Read more
Marc Benioff, co-chief executive officer of Salesforce.com Inc., speaks during a Bloomberg Television interview at the 2022 Dreamforce conference in San Francisco, California, US, on Thursday, Sept. 22, 2022. Benioff shared his excitement over data indicating a decrease in San Francisco’s total homeless population. Photographer: David Odisho/Bloomberg via Getty Images David Odisho | Bloomberg | Getty … Read more
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. “You can’t control the buying environment. 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 … Read more
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market pressure : The major stock benchmarks were moving lower Wednesday, with the Dow getting the worst of it again. Adding pressure on equities, bond yields … Read more
Marc Benioff, CEO of Salesforce, appears on a panel at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Stefan Wermuth | Bloomberg | Getty Images Salesforce shares plummeted 16% in extended trading on Wednesday after the cloud software vendor reported weaker-than-expected revenue and issued guidance that trailed Wall Street’s expectations. Here’s how … Read more
