A sigh of relief is in order. Salesforce shares jumped more than 4% in extended trading Wednesday after the enterprise software giant beat sales and earnings expectations in the second quarter. The company may have maintained its full-year revenue outlook, but that was taken as good enough after last quarter’s debacle. Plus, an increase to … Read more
Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Patrick T. Fallon | AFP | Getty Images Fisker on Monday became the latest all-electric vehicle startup to file for … Read more
Saravutvanset | Room | Getty Images AMSTERDAM, Netherlands — Corporate payments startup Payhawk told CNBC it is planning mergers and acquisitions to grow its footprint in the U.S. and take on big players in the space like SAP and venture-backed firms Brex and Ramp. The startup said it is looking to acquire a U.S. company or companies at … 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
Salesforce shares sank more than 16% Wednesday after reporting mixed earnings and revised guidance lower. The cloud software company is a high-quality stock in a rough neighborhood — at least for the near term. Revenue increased 11% year over year to $9.13 billion in the three months ended April 30, missing the $9.18 billion expected … Read more
A Texas Instruments sign in Dallas, June 14, 2023. Katie Tarasov Elliott, the $65 billion hedge fund best known for its shareholder activism, has made a $2.5 billion investment in Texas Instruments and is urging the company to improve its free cash flow by adapting a less rigid plan for capital expenditures. In a 13 … Read more
TripActions CEO Ariel Cohen TripActions The boss of travel and expense management platform Navan told CNBC he’s preparing the company to get its business into shape for an eventual initial public offering this year, in another sign leaders of privately-held startups are getting more optimistic about their prospects in the public markets. Asked about when … Read more
Ericsson announced it is planning to cut jobs as part of its cost-cutting measures. Nurphoto | Nurphoto | Getty Images Ericsson announced on Monday that it will lay off about 1,200 employees in Sweden as the telecommunications company faces slowed demand for its 5G equipment. The company said the downsizing is part of a broader … Read more
The Google office in New York on February 2, 2023. Ed Jones | Afp | Getty Images Allison Croisant, a data scientist with about a decade of experience in technology, was laid off by PayPal earlier this year, joining the masses of unemployed across her industry. Croisant has one word to describe the process of … Read more
Charles Lamanna, corporate vice president for business applications and platforms at Microsoft, speaks at a press event in San Francisco on Feb. 28, 2024. Jordan Novet | CNBC Microsoft on Thursday announced that it will release a Copilot chatbot that can perform key tasks for people working in finance. The software company will first offer … Read more
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