Cloud Giant Rips on Blowout Quarter

837

A cloud-computing giant was highlighted on Market Action this week. It’s posed to open higher today after a blowout quarter.

Salesforce.com (CRM) reported earnings of $0.61 a share in the third quarter. With the Street expecting earnings of $0.50 per share, up from $0.39 during the same period last year, the stock rose 8 percent in the pre-market.

For the fourth quarter, CRM expects adjusted earnings of $0.54 to $0.55 a share on revenue of $3.55 billion to $3.56 billion, while analysts estimated $0.57 a share on revenue of $3.52 billion.

Three other companies, J.M. Smucker (SJM), Dick’s Sporting Goods (DKS) and Burlington Stores (BURL), issue earnings reports prior to the stock market open Wednesday.

Two of the three ended Tuesday in the green. SJM closed Tuesday at $109.18 up $0.17 and DKS closed at $36.33 up $0.34, while BURL ended the Tuesday regular market session at $148.56 down $1.13.

Advertisement Trading Platforms and Tools