Diamonds and Dogs
Salesforce.com (CRM) higher following earnings. Salesforce.com is up 6% after easily beating estimates as revenues rose 22.6% to $5.96 billion with good momentum throughout their core business. Salesforce is in the process of buying Slack Technologies Inc. for $27.7 billion, an acquisition designed to fuel sales growth of more than 25% a year.
HP Inc (HPQ) has a chip shortage. HP is down 9% following earnings. Earnings were actually good with revenues up 27% to $15.88 billion. However, the company is warning that the semiconductor chip shortage would limit its ability to supply personal computing devices and printers at least until the end of the year overshadowed its robust quarterly results.
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