Diamonds and Dogs
Salesforce (CRM) cloud still rising. The cloud-computing software firm is one of the few stocks trading higher following earnings. Salesforce easily beat expectations by 19 cents as revenues rose 21% to $4 billion. The company has been on a shopping spree, buying Tableau Software for $15.7 billion along with ClickSoftware and sister company Salesforce.org. But even with the acquisitions, sales continue to chug along. At least two upgrades with price targets of $188 and $210 a share.
The rollercoaster trade dispute with China continues. President Trump wants all US companies out of China prompting the markets to take a nose dive. Apple (AAPL) is down 4%. The chip sector is down 4%. Guggenheim added Nike (NKE) to their Best Ideas List. That best idea is down 4%. A dog following earnings is Foot Locker (FL). The stock is down 10% after missing earnings estimates as sales and earnings declined year over year.