Salesforce.com Hits 52-Week High on Q2 Beat and 2 Other Hot Stocks to Watch
Salesforce.com Inc. (NYSE:CRM): Current price $49.45
On Thursday evening, the enterprise cloud computing provider Salesforce.com posted second-quarter adjusted earnings per share of 9 cents, and revenue of $957 million, with an increased full year 2014 estimate. Consensus had been 7 cents on revenue of $939.25 million.
In reaction, shares sprang to a new 52-week high and are up almost 13 percent mid-morning in heavy volume. Fiscal year 2014 adjusted earnings was raised to between 32 and 34 cents from 31 to 33 cents, against analysts’ consensus of 33 cents, while revenue for that period was increased from $3.96 billion to $4 billion, to $4 billion to $4.025 billion, compared to consensus of $3.99 billion.
General Electric Co. (NYSE:GE): Current price $23.11
According to a report in The Wall Street Journal, GE intends to spin off its domestic consumer lending business as soon as 2014 in an IPO. The consumer lending comprises almost 20 percent of GE Capital’s total outstanding loans, with over 55 million persons having store credit cards backed by General Electric’s finance division.
Ford Motor Co. (NYSE:F): Current price $16.156
Ford said on Friday that its Romanian division will stop production for one week in September, so as to adjust to inadequate European market demand. The iconic America automaker took over the Romanian Automobile Craiova in 2008 and began output of its B-Max model at the Craiova plant in 2012, now building 370 cars per day and about 1,000 engines.
Ford Romania spokeswoman Ana Maria Timis said that, “In September, we will have seven days during which we will not produce the B-Max. That is all we can say for now. It’s a very common situation for the auto industry.”