iShares Expanded Tech-Software Sector ETF (BATS: IGV)

에 대한 최신 뉴스 iShares Expanded Tech-Software Sector ETF (BATS:IGV)

iShares Expanded Tech-Software Sector ETF

iShares North American Tech-Software ETF

Technology

Communication Services

Financial Services

The Fund seeks to track the investment results of the S&P North American Expanded Technology Software Index; the Underlying Index, which measures the performance of U.S.-traded stocks from the software industry and select companies from the interactive home entertainment and interactive media and services sub-industries in the U.S. and Canada, as determined by S&P Dow Jones Indices LLC; the Index Provider or SPDJI.

Adobe Inc

Salesforce.Com Inc

Oracle Corp.

Microsoft Corp

Intuit, Inc.

Servicenow Inc

Palo Alto Networks Inc.

Synopsys Inc.

Cadence Design Systems Inc.

Roper Technologies Inc.

Biotech

Equities

Large Cap

Sector ETFs

Broad U.S. Equity ETFs

Health Care

Tech

ETFs

ADBE

ALNY

AVGO

COPX

CRWD

OLED

ORCL

QRVO

iShares FTSE NAREIT Residential PLUS Capped Index Fund

SCLX

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

6월은 섹터 및 산업 성과의 상당한 격차에도 불구하고 SPDR S&amp;P 500 ETF Trust(NYSE:SPY)가 추적하는 S&amp;P 500이 3.2% 상승하는 등 주식 시장에서 높은 평가를 받으며 마감되었다.

6월 상위 성과 업종 ETF: 소프트웨어는 수익을 선도, 칩 메이커들은 가장 많은 자금 유치

Market Summary

Mid Cap

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Markets

Real Estate

AAUKF

SPDR Dow Jones Industrial Average ETF Trust

FILL

iShares Dow Jones US Broker Dealers Index Fund

iShares Dow Jones US Insurance Index Fund

iShares Dow Jones US Regional Banks Index Fund

iShares U.S. Digital Infrastructure and Real Estate ETF

IDGT

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

iShares Dow Jones US Oil Equipment & Services Index Fund

iShares Dow Jones US Pharmaceuticals Index Fund

iShares Dow Jones US Health Care Provides Index Fund

iShares Dow Jones US Medical Devices Index Fund

ILIT

iShares Dow Jones US Aerospace & Defense Index Fund

iShares Dow Jones US Homenstruction Index Fund

iShares Trust Dow Jones US Financial Services Index Fund

iShares Dow Jones Transportation Average Index Fund

PAAS

PICK

iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

RING

SLVP

XLRE

Select Sector SPDR-Consumer Discretionary

4월을 마무리하면서, 이번달에 가장 성과가 뛰어난 섹터와 산업 교환 펀드들을 순위화 할 시간이다.



주가를 더 넓은 시각에서 보면, S&amp;P 500 지수는 SPDR S&amp;P 500 ETF 트러스트(NYSE:SPY)로 표현되는 4월에 약 3% 하락하여 4월을 마감했다. 이로써 지난 5개월간 상승 기간이 끝난 셈이다.  



유사하게 Invesco QQQ

월가에 소나기 내린 4월: 우울한 시장에 광업 및 유틸리티 부문이 상승하며 부상

Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) shares are trading lower premarket on Wednesday. The company disclosed plans to invest over $6.5 billion to <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/n41133324/oracle-to-invest-more-than-us-6-5-billion-in-ai-and-cloud-computing-in-malaysia" rel="noreferrer noopener">open a public cloud region in Malaysia</a>.
The company aims to meet the country&#8217;s growing demand for AI and cloud services.
This new cloud region will allow Oracle&#8217;s customers and partners in Malaysia to access AI infrastructure, services, and migrate critical workloads to Oracle Cloud Infrastructure (OCI).
Oracle plans to open a cloud region in Malaysia, offering over 150 infrastructure and SaaS services to boost the country&#8217;s digital economy and drive AI innovation.
This new cloud region will expand OCI&#8217;s presence in the Asia Pacific to 12 public cloud regions.
YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, minister of investment, trade and industry&nbsp;(MITI),&nbsp;Malaysia said, &#8220;It is also a significant step towards realising the country&#8217;s New Industrial Master Plan&#8217;s ambitious vision of creating 3,000 smart factories by 2030.&#8221;
Garrett Ilg, executive vice president and general manager,&nbsp;Japan&nbsp;&amp;&nbsp;Asia Pacific, Oracle added, &#8220;Our multi-billion dollar investment affirms our commitment to&nbsp;Malaysia&nbsp;as a regional gateway for cloud infrastructure as well as a comprehensive suite of SaaS applications deployed within&nbsp;Malaysia.&#8221;
Read: <a target="_blank" href="https://www.benzinga.com/top-stories/24/09/40937593/oracle-cloudworld-highlights-ai-driven-tech-services-but-revenue-growth-requires-patience-analyst" rel="noreferrer noopener">Oracle CloudWorld Highlights &#8216;AI-Driven Tech Services,&#8217; But Revenue Growth Requires Patience: Analyst</a>
Notably, IDC FutureScape&#8217;s &#8216;The Infrastructure and Cloud Impact 2024 Predictions&#8217; forecasts Malaysia&#8217;s public cloud services market to grow at a 27.2% CAGR from 2022 to 2027.
Last month, the company announced several new partnerships with various companies, including contracts&nbsp;with Guardian Life, Anduril, and RAFAEL enhancing Oracle&#8217;s cloud and AI capabilities, driving efficiency and innovation.
Investors can gain exposure to Oracle through&nbsp;iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and&nbsp;Pacer Funds Pacer Data and Digital Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRFK#NYSE">TRFK</a>).
Price Action: ORCL shares are down 0.04% at $167.10 premarket at the last check Wednesday.
Photo: Michael Vi/Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/technicals/24/09/41002243/oracle-surges-20-in-september-as-ai-cloud-strategy-flashes-bullish-signals" target="_blank" rel="noreferrer noopener">Oracle Surges 20% In September As AI, Cloud Strategy Flashes Bullish Signals</a></li>
</ul>

News

TRFK

Oracle Bets Big: Plans Over $6.5B Cloud Expansion In Malaysia To Fuel AI Innovation

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are trading higher on Tuesday. The company inked several partnerships and introduced a major launch.
Salesforce launched the Agentforce Partner Network,<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40896549/salesforce-introduces-agentforce-partner-network-the-worlds-first-agent-ecosystem" rel="noreferrer noopener"> which is the world&#8217;s first agent ecosystem</a>.
This open platform allows Agentforce to handle complex tasks by connecting actions across Salesforce and a wide network of third-party systems and agents.
Salesforce expanded its partnership with Google Cloud to create Salesforce Agentforce Agents that will enable secure collaboration across Salesforce Customer<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40896392/salesforce-and-google-cloud-join-forces-to-deliver-autonomous-ai-agents-that-collaborate-across-sa" rel="noreferrer noopener"> 360 and Google Workspace apps</a>.
Building on existing integrations, this allows customers to deploy autonomous agents that seamlessly operate within their daily apps, supported by the strong privacy and data protections of both platforms.
Apart from this, Salesforce disclosed its expanded partnership with luxury fashion retailer Saks Fifth Avenue to enhance its shopping <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40896421/salesforce-expands-partnership-with-saks-fifth-avenue" rel="noreferrer noopener">experience using the Salesforce Platform</a>.
This collaboration will provide Saks with deeper insights into customer preferences, enabling more personalized service, increased loyalty, and a reimagined retail experience.
This month, the company disclosed that it has signed a definitive agreement to acquire Own Company&nbsp;for <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40746081/salesforce-expands-data-security-portfolio-with-1-9b-own-company-acquisition" rel="noreferrer noopener">around $1.9 billion in cash</a>.
Investors can gain exposure to the stock via&nbsp;REX FANG &amp; Innovation Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEPI#NASDAQ">FEPI</a>) and&nbsp;IShares Expanded Tech-Software Sector ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).
Price Action: CRM shares are up 0.45% at $258.08 at the last check Tuesday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40841369/ai-powered-agentforce-and-dreamforce-highlight-salesforces-next-revenue-surge-goldman-sachs-analyst" target="_blank" rel="noreferrer noopener">AI-Powered Agentforce and Dreamforce Highlight Salesforce&#8217;s Next Revenue Surge: Goldman Sachs Analyst</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

FEPI

Salesforce Unveils New Agentforce Partner Network, Partners With Google Cloud

On Wednesday, Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) unveiled its advancements in generative AI video capabilities powered by <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40813577/adobe-previews-its-upcoming-firefly-video-model" rel="noreferrer noopener">the Adobe Firefly Video Model</a>.
Notably, Firefly has already generated over 12 billion images globally.
This new model, which extends Adobe's Firefly suite that includes Image, Vector, and Design Models, is set to enhance video editing by helping professionals fill timeline gaps and add new elements to footage.
The upcoming features, available later this year, will include Text to Video and Image to Video capabilities on Firefly.Adobe.com and within Premiere Pro. Text to Video will allow users to generate video from text prompts and adjust elements like camera angle and zoom, while Image to Video will animate still shots into live-action clips.
Ashley Still, senior vice president, Creative Product Group at Adobe, said, &#8220;Building upon our foundational Firefly models for imaging, design and vector creation, our Firefly foundation video model is designed to help the professional video community unlock new possibilities, streamline workflows and support their creative ideation.&#8221;
In August, Adobe launched Adobe Journey Optimizer (AJO) B2B Edition, using generative AI to boost customer <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40220136/adobe-transforms-b2b-marketing-with-generative-ai-powered-journey-optimizer-to-reach-buying-groups" rel="noreferrer noopener">engagement and drive growth for B2B companies</a>.
The company is set to release third-quarter FY24 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">results on September 12</a>.
Investors can gain exposure to the stock via&nbsp;REX FANG &amp; Innovation Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEPI#NASDAQ">FEPI</a>) and&nbsp;IShares Expanded Tech-Software Sector ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).
Price Action: ADBE shares are down 0.41% at $572.13 at the last check Wednesday.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/news/24/08/40462682/mkbhd-weighs-in-on-procreate-ceos-hate-generative-ai-stance-take-notes-adobe-but-wonder-if-they-ever" target="_blank" rel="noreferrer noopener">MKBHD Weighs In On Procreate CEO&#8217;s &#8216;Hate Generative AI&#8217; Stance: &#8216;Take Notes Adobe&#8230;But Wonder If They Ever Bend This Rule Someday&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Adobe Shakes Up Video Editing With AI-powered Creation Tools - What's On The Cards?

Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) shares are trading higher following better-than-expected first-quarter financial results.
Oracle reported first-quarter earnings of $1.39 per share, which beat the consensus of $1.32 and revenue of $13.307 billion, exceeding the <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">consensus estimate of $13.231 billion</a>.
Several analysts raised their price <a target="_blank" href="https://www.benzinga.com/quote/ORCL/analyst-ratings" rel="noreferrer noopener">targets on the stock</a>. Maintaining a Neutral rating, B of A Securities boosted the price target to $175 from $155. Also, Morgan Stanley raised the price target to $145 from $125 and reiterated an Equal-Weight rating. Also, JPM Securities upgraded the company to Market Outperform from Market Perform.
Also Read: <a target="_blank" href="https://www.benzinga.com//node/40796582" rel="noreferrer noopener">Oracle Analysts Focus On AI-Driven Bookings Strength, Expect Revenue Acceleration To Continue</a>
Today, the company announced several new partnerships with various companies.
Clayton, a national builder of single-family attainable housing, will streamline its business processes through the Oracle<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40791007/clayton-lays-the-foundation-for-future-growth-and-innovation-with-oracle-fusion-cloud-applications" rel="noreferrer noopener"> Fusion Cloud Applications Suite</a>.
Moreover, Evidium, a healthcare AI startup focused on reliability, transparency, and safety, will power its referenced healthcare AI platform <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40790990/evidium-selects-oracle-cloud-infrastructure-to-power-its-referenced-healthcare-ai-platform" rel="noreferrer noopener">through Oracle Cloud Infrastructure (OCI)</a>.
Additionally, Oracle was selected by Modal Labs, a serverless platform for AI, ML, and data developers, to offer faster and more cost-efficient inferencing, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40790936/modal-labs-selects-oracle-as-its-cloud-infrastructure-provider-of-choice" rel="noreferrer noopener">fine-tuning, and batch processing</a>.
Apart from this, Oracle partnered with Guardian Life to streamline its finance operations using Oracle Fusion Cloud ERP. The implementation has increased productivity, reduced costs, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40790897/oracle-supports-guardians-finance-operations-transformation" rel="noreferrer noopener">and improved decision-making through AI innovations</a>.
Also, Oracle teamed up with Anduril to deploy Anduril&#8217;s Lattice C2 platform on OCI and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40790811/oracle-and-anduril-industries-partner-to-deliver-ai-powered-defense-solutions-from-the-datacenter-" rel="noreferrer noopener">OCI Roving Edge Infrastructure</a>. Oracle collaborated with RAFAEL to enhance combat solutions, enabling faster decision-making <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40790773/oracle-and-rafael-to-provide-cloud-based-ai-solutions-for-defense-missions" rel="noreferrer noopener">during mission-critical scenarios</a>.
On Monday, Oracle and AWS launched Oracle Database@AWS to provide customers with a <a target="_blank" href="https://www.benzinga.com/news/earnings/24/09/40781943/oracle-stock-climbs-on-strong-q1-results-partnerships-with-google-cloud-aws" rel="noreferrer noopener">unified experience between OCI and AWS</a>.
Also, Investors can gain exposure to the stock via&nbsp;Pacer Funds Pacer Data And Digital Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRFK#NYSE">TRFK</a>) and&nbsp;IShares Expanded Tech-Software Sector ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).
Price Action: ORCL shares are up 11.5% at $155.99 at the last check Tuesday.
Photo: Michael Vi/Shutterstock
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<li><a href="https://www.benzinga.com/news/earnings/24/09/40789317/nasdaq-s-p-500-futures-slip-as-traders-eye-presidential-debate-oracle-rallies-over-8-economist-poin" target="_blank" rel="noreferrer noopener">Nasdaq, S&amp;P 500 Futures Slip As Traders Eye Presidential Debate, Oracle Rallies Over 8%: Economist Points This Shift In Broader Market Trend Amid Flurry Of Weak Data</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Contracts

Oracle's AI-Driven Partnerships Post Q1 Earnings Beat: Details

With its inclusion in the S&amp;P 500 index, Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) is <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/09/40795608/palantirs-s-p-500-journey-rebel-tech-giant-transforms-into-frankenstein-monster-powere">entering a new phase</a> that will likely attract a new wave of investors and long-term capital, according to Bank of America.
On Tuesday, the investment bank reiterated a Buy rating and raised the price target for the data analytics and artificial intelligence firm from $30 to $50, as &#8220;S&amp;P 500 inclusion provides a watershed moment&#8221;<a href="https://www.benzinga.com/topic/artificial-intelligence"> for institutional investors. </a>
&#8220;We think that becoming a member of the S&amp;P 500 could be highly beneficial to PLTR&#8217;s stock volatility. We think that the inclusion would attract more institutional investors, both passive and active,&#8221; wrote Mariana Perez Mora, an analyst at Bank of America.
<h3 class="wp-block-heading">Strong Financials, Strategic AI Leadership</h3>
Palantir has become a key player in artificial intelligence, leveraging its deep ties with both government and commercial sectors. Bank of America's revised $50 price target reflects a new valuation approach, which rolls estimates forward to 2026. 
This leads to a projected enterprise value of $116 billion, propelling Palantir closer to the top 100 companies in the S&amp;P 500 (from its current ranking in the 165th range). 
Mora explained that the elevated multiple derived from the updated price target is justified by Palantir&#8217;s position in national security, its leadership in AI platforms, and its opportunistic partnerships. 
She also stressed the company&#8217;s strong balance sheet, particularly its $3.9 billion net cash position, as a sign of financial strength that sets Palantir apart from competitors.
<h3 class="wp-block-heading">A Misunderstood Giant in AI</h3>
Bank of America draws attention to a significant market underestimation of Palantir's future potential, likening it to AT&amp;T Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) early misjudgment of the mobile phone market in the 1980s.
&#8220;In 1980, AT&amp;T hired a consultancy company to estimate the market size for cell phones by 2000. The study suggested there would only be 900k users. The actual number of mobile subscriptions in 2000 was more than 100 million,&#8221; the report stated. 
The analogy underscores how early forecasts often miss the mark on disruptive technologies. Similarly, Palantir's advanced AI capabilities, particularly its Foundry platform, are seen as a vastly underappreciated asset. 
Foundry is designed to make data not only accessible but actionable, transforming decision-making processes across various industries.
Bank of America's bullish outlook on Palantir is also supported by its expanding list of partnerships. The company is working closely with major corporations and government agencies, including PwC, Jacobs, Accenture, and Airbus, to broaden its customer base.
&#8220;We see Palantir as a beneficiary of rapidly growing demand for Artificial Intelligence (AI)-platforms in both commercial and government end-markets,&#8221; the report stated. 
Shares of Palantir traded 0.4% lower by 11:15 a.m. ET on Tuesday, after rallying as much as 14.1% a day earlier.
Within the software-related industry, as tracked by the iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>), Palantir ranks third in year-to-date returns, rising 100%, behind Zeta Global Holdings Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZETA#NYSE">ZETA</a>), which skyrocketed 187%, and AppLovin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APP#NYSE">APP</a>), which surged 116%.
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</ul>
Photo: <a href="https://www.flickr.com/photos/worldeconomicforum/" target="_blank" rel="noreferrer noopener">World Economic Forum</a> on Flickr

Analyst Color

Regulations

Success Stories

Analyst Ratings

PLTR

ZETA

Palantir's S&P 500 Inclusion A 'Watershed Moment,' Says Bank of America, Anticipates 'More Institutional Investors'

Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) shares are on watch Monday ahead of the company&#8217;s first-quarter earnings set to be released <a href="https://www.benzinga.com/trading-ideas/technicals/24/09/40772573/ai-deals-drive-oracle-momentum-will-q1-earnings-keep-stock-in-fast-lane">after the closing bell.</a>
The Details:
Investors will be watching Oracle's cloud service revenue amid growing AI demand and previously announced deals with OpenAI and Google. Analysts expect the company to report quarterly earnings of $1.32 per share on revenue of $13.23 billion, according to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>.&nbsp;
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40754522/whats-going-on-with-coinbase-stock-today">What&#8217;s Going On With Coinbase Stock Today?</a>
According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Oracle stock has gained over 20% in the last 12 months and is trading above its 50-day moving average of $138.64. Investors can gain exposure to the stock via Pacer Funds Pacer Data And Digital Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRFK#NYSE">TRFK</a>) and IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).
<h3 class="wp-block-heading">ORCL Stock Prediction 2024: </h3>
When buying a stock for a longer time horizon, it is important for investors to assess where they think the stock is headed in the future.
When mapping a stock's future trajectory, investors should consider factors including the future earnings expectations and expected performance against a benchmark.
Oracle's revenue has grown at an average rate of 7.12% annually over the past 5 years. The average 1-year price target from analysts is $149.74, representing an expected 5.81% upside in 2025.
While past performance is not a guarantee of future results, investors should also look at a stock's historical performance when compared to both a benchmark index and the company's peers. Shares of Oracle have seen an annualized return of 18.35%, outperforming the S&amp;P500 index by 11.98%. This compares to 17.63% growth in the overall Information Technology sector. Oracle has a beta of 1.15.
ORCL Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, Oracle shares are down 0.47% at $142.47 at the time of publication Monday.
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Image: Shutterstock

Movers

What's Going On With Oracle Stock?

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) disclosed that it has signed a definitive agreement to acquire Own Company <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40740921/salesforce-signs-definitive-agreement-to-acquire-own-company" rel="noreferrer noopener">for around $1.9 billion in cash</a>.
This amount is net of the value of the 10% of Own&#8217;s outstanding shares that Salesforce already owns. The transaction is subject to customary purchase price adjustments.
Own Company helps organizations ensure the availability, security, and compliance of critical data while enabling deeper insights.
The proposed transaction highlights Salesforce&#8217;s dedication to enhancing data security, privacy, and compliance across its platform.
Steve Fisher, President and GM, Einstein 1 Platform and Unified Data Services said, &#8220;Data security has never been more critical, and Own&#8217;s proven expertise and products will enhance our ability to offer robust data protection and management solutions to our customers.&#8221;&nbsp;&nbsp;
&#8220;This proposed transaction underscores our commitment to providing secure, end-to-end solutions that protect our customers&#8217; most valuable data and navigate the shifting landscape of data security and compliance.&#8221;
The transaction is anticipated to close in the fourth quarter of Salesforce&#8217;s fiscal year 2025, pending customary closing conditions and regulatory approvals.
Sam Gutmann, Own CEO stated, &#8220;As digital transformation accelerates, our mission has expanded from preventing data loss in the cloud to helping customers protect their data, unlock business insights, and accelerate AI-driven innovation.&#8221;
Salesforce projects that the transaction will be accretive to free cash flow beginning in the second <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">year after closing and continuing thereafter.</a> Additionally, the deal will not impact Salesforce&#8217;s capital return program.
Dividend: Salesforce announced that its board of directors had declared a quarterly cash dividend of $0.40 per share, payable on October 8, 2024, to stockholders of <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40743417/salesforce-announces-quarterly-dividend" rel="noreferrer noopener">record as of September 18, 2024</a>.
Salesforce does not expect the transaction to affect its FY25 financial guidance, <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40612926/salesforce-q2-earnings-revenue-beat-eps-beat-reimagining-enterprise-software-with-ai-cfo-transition" rel="noreferrer noopener">as announced on August 28, 2024.</a>
This month, Salesforce finalized an agreement to acquire&nbsp;Tenyx, a company specializing in AI-driven voice agents that enhance customer service with natural, engaging conversations. The terms of the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40703539/whats-going-on-with-salesforce-stock-today" rel="noreferrer noopener">deal were not disclosed</a>.
As of July-end, Salesforce&#8217;s cash and equivalents <a href="https://www.benzinga.com/pressreleases/24/08/b40611269/salesforce-announces-second-quarter-fiscal-2025-results" target="_blank" rel="noreferrer noopener">stood at $12.6 billion</a>. In August, Salesforce reported second-quarter revenue of $9.33 billion, beating the consensus estimate of $9.23 billion. The enterprise cloud solutions company reported adjusted earnings of $2.56 per share, beating analyst estimates of <a href="https://www.benzinga.com/news/earnings/24/08/40612926/salesforce-q2-earnings-revenue-beat-eps-beat-reimagining-enterprise-software-with-ai-cfo-transition" target="_blank" rel="noreferrer noopener">$2.36 per share, according to Benzinga Pro</a>.
Investors can gain exposure to the stock via iShares Expanded Tech-Software Sector ETF&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and REX FANG &amp; Innovation Equity Premium Income ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEPI#NASDAQ">FEPI</a>).
Price Action: CRM shares closed lower by 0.63% at $246.12 on Thursday.
Photo via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Salesforce Expands Data Security Portfolio with $1.9B Own Company Acquisition

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading marginally lower on Wednesday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, CRM stock has gained over 13% in the past year. Investors can gain exposure to the stock via iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and REX FANG &amp; Innovation Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEPI#NASDAQ">FEPI</a>).
Salesforce has finalized an agreement to acquire Tenyx, a company specializing in AI-driven voice agents that enhance customer service with natural, engaging conversations. The terms of the deal were not disclosed.
In a press release yesterday, the company <a target="_blank" href="https://www.salesforce.com/news/stories/salesforce-signs-definitive-agreement-to-acquire-tenyx/" rel="noreferrer noopener">said </a>that once the acquisition is complete, Tenyx will enhance Salesforce&#8217;s autonomous agent capabilities for Agentforce Service Agent by integrating its advanced voice AI solutions, which are designed for service applications.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40700320/jpmorgan-warns-anticipated-rate-cuts-may-not-significantly-boost-stock-markets-fed-will-start-ea" rel="noreferrer noopener">JPMorgan Warns Anticipated Rate Cuts May Not Significantly Boost Stock Markets: &#8216;Fed Will Start Easing, But More In A Reactive Way&#8217;</a>
Tenyx&#8217;s co-founders, Itamar Arel, CEO, and Adam Earle, CTO and team will join Salesforce, helping to build the future of Salesforce&#8217;s Agent offerings, upon the close of the acquisition.
Last year, Salesforce, facing pressure from activist investors, announced plans to double its share buybacks and move away from further acquisitions after dissolving its mergers and acquisitions committee, per Reuters.
The San Francisco-based company is now revisiting acquisitions to boost its revenue growth. This strategy mirrors recent actions by tech giants, reflecting heightened competition for AI tools and talent.
Salesforce&#8217;s acquisition of Tenyx underscores its commitment to revolutionizing customer service through AI, reflecting its dedication to delivering next-generation customer service solutions, the company said.
The acquisition is expected to close in the third quarter of Salesforce&#8217;s fiscal year 2025, ending October 31, subject to customary closing conditions.
Last week,&nbsp;Salesforce reported second-quarter revenue of $9.33 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus estimate</a> of $9.23 billion. The enterprise cloud solutions company reported adjusted earnings of $2.56 per share, beating analyst estimates of $2.36 per share, according to<a target="_blank" href="http://pro.benzinga.com/" rel="noreferrer noopener"> Benzinga Pro</a>.
Salesforce issued guidance for third-quarter revenue of $9.31 billion to $9.36 billion. The company anticipates third-quarter <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">adjusted earnings of $2.42 to $2.44 per share.&nbsp;</a>
Salesforce continues to expect full-year 2025 revenue of $37.7 billion to $38 billion. The company raised its full-year adjusted earnings outlook to a new range between $10.03 and $10.11 per share.
Price Action: CRM shares are trading lower by 0.23% to $247.57 premarket at last check Wednesday.
Photo via Shutterstock
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Media

General

What's Going On With Salesforce Stock Today?

Needham analyst Scott Berg expressed views on Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) ahead of its second quarter results <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">release on August 28, 2024</a>.
The analyst writes that following a weak first quarter, they expect Salesforce to report limited upside in the second quarter due to ongoing macroeconomic pressures on spending.
The analyst remains cautious as demand softness is noted across most cloud segments, including Service Cloud, which had previously been a strong performer.
Berg expects Salesforce&#8217;s Data Cloud to be a focal point in the discussions, especially given its traction in $1 million+ deals, with 25% including Data Cloud in the first quarter.
As AI adoption drives interest, Data Cloud could continue its momentum, potentially providing an incremental boost to results in the second half, adds the analyst.
The analyst maintained a Buy rating on the stock, <a target="_blank" href="https://www.benzinga.com/quote/CRM/analyst-ratings" rel="noreferrer noopener">with a price target of $345</a>.
Salesforce stock gained over&nbsp;25%&nbsp;in the last 12 months. Investors can gain exposure to the stock via&nbsp;iShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and&nbsp;REX FANG &amp; Innovation Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEPI#NASDAQ">FEPI</a>).
Price Action: CRM shares are up 0.67% at $265.78 at the last check Monday.
Photo via Shutterstock
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Price Target

Reiteration

Trading Ideas

Salesforce Q2 Preview: Analyst Sees Soft Cloud Demand But Highlights Data Cloud's Growing Impact

Thailand mobile network operator Advanced Info Service plans to deploy&nbsp;Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) Oracle Alloy and launch AIS Cloud, the country&#8217;s <a target="_blank" href="https://www.benzinga.com//node/40089320" rel="noreferrer noopener">first locally owned and operated hyperscale cloud.</a>
Oracle Alloy will offer AIS and enterprises across Thailand, including the public sector, access to over 100 Oracle Cloud Infrastructure (OCI) services, including advanced artificial intelligence (AI) capabilities.
With a strong track record serving 45 million subscribers, AIS is using Oracle Alloy to leverage cloud capabilities, scale, and innovation at hyperscale speeds.
As per the terms, AIS Cloud will meet data residency and sovereignty needs, including compliance with Thailand&#8217;s PDPA and Cybersecurity Act. It will be the sole hyperscale cloud in Thailand, offering in-country disaster recovery for enhanced business resilience.
Garrett Ilg, executive vice president and general manager, Japan &amp; Asia Pacific, Oracle, said, &#8220;Thailand is a strategic market for Oracle and the Oracle Alloy collaboration with AIS will serve as an industry gamechanger for the country. It empowers AIS to become a hyperscale cloud provider, enabling them to build new services faster while delivering sovereign cloud and AI capabilities for its Thai customers.&#8221;
Daphne Chung, Research Director, Cloud Services and Software Research, IDC Asia/Pacific, stated, &#8220;IDC forecasts spending on sovereign cloud to increase at 31.5 percent compound annual growth rate (CAGR) in APEJ.&#8221;
&#8220;The APEJ Cloud Survey 2023 showed that 19 percent of APEJ organizations expect to increase their spending on sovereign cloud in the near future as a component of organizations&#8217; hybrid cloud strategy driven by compliance and regulations as well as the need for greater operational resiliency.&#8221;
Yesterday, Oracle stated that King&#8217;s College Hospital London in Dubai is among the first UAE health systems to migrate its Oracle Health Electronic Health Record (EHR) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n40067750/kings-college-hospital-london-improves-ehr-performance-and-security-with-oracle-cloud-infrastructu" rel="noreferrer noopener">to Oracle Cloud Infrastructure (OCI)</a>.
Moreover, Oracle reportedly inked a deal with&nbsp;Rai Way to implement its AI systems at<a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39967609/whats-going-on-with-oracle-stock-thursday" rel="noreferrer noopener"> the Italian firm&#8217;s data centers</a>.
ORCL stock has gained around&nbsp;18% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Pacer Funds Pacer Data And Digital Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRFK#NYSE">TRFK</a>) and&nbsp;IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).
Price Action: ORCL closed higher by 2.79% at $139.45 on Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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</ul>

Thailand's AIS Partners with Oracle to Elevate Enterprise Solutions: Details

Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) shares are trading higher today. The company reportedly inked a deal with Rai Way to implement its AI systems at the Italian firm&#8217;s data centers.
Oracle&#8217;s corporate clients will access its database, cloud, and disaster recovery solutions through Rai Way&#8217;s remote data centers, reported Reuters.
The companies noted that Rai Way&#8217;s remote data centers enhance cybersecurity by adding &#8220;a further layer of protection against any attempts by cyber-criminals to locate data geographically.&#8221;
Apart from this, Oracle inked a managed services agreement with a Saudi telecom operator Salam to support<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39955486/salam-taps-oracle-to-optimize-business-operations-and-innovate-with-new-service-offerings" rel="noreferrer noopener"> ongoing digital transformation</a>.
Using an Information and Communication Technology-focused approach, Oracle will help Salam boost operational efficiency, proactively address potential issues, and ensure seamless service delivery to customers.
Ahmed Al-Anqari, CEO of Salam, said, &#8220;As a Saudi-born company, Salam is at a digital transformation milestone in its journey. Our focus is on contributing to the advancement of KSA&#8217;s ICT sector by enhancing our managed services among many other strategic initiatives.&#8221;
This month, Oracle unveiled Exadata Exascale, a cloud-based data architecture enhancing performance&nbsp;for <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39746996/whats-going-on-with-oracle-stock-on-friday" rel="noreferrer noopener">Oracle Database workloads</a>.
ORCL stock has gained around&nbsp;19%&nbsp;in the last 12 months. Investors can gain exposure to the stock via&nbsp;Pacer Funds Pacer Data And Digital Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRFK#NYSE">TRFK</a>) and&nbsp;IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39317779/oracles-strategic-pivot-to-ai-and-cloud-computing-yields-market-cap-surge-report" rel="noreferrer noopener">Oracle&#8217;s Strategic Pivot To AI And Cloud Computing Yields Market Cap Surge: Report</a>
Price Action: ORCL shares are up 0.73% at $139.78 at the last check on Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

What's Going On With Oracle Stock Thursday?

ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) shares are rising in premarket trading on Thursday following its <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">second-quarter earnings report, which exceeded analysts&#8217; expectations.</a>
The company&nbsp;reported second-quarter revenue of $2.627 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus estimate</a> of $2.607 billion<a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39942290/servicenow-reports-second-quarter-2024-financial-results" rel="noreferrer noopener">, per a press release.</a>
Analysts anticipate that robust U.S. federal business and increasing adoption of AI software will counterbalance the impact of economic uncertainty on the company, <a target="_blank" href="https://www.cnbc.com/2024/07/24/servicenow-raises-annual-subscription-revenue-forecast-on-robust-demand-coo-resigning-after-government-contract-complaint-.html" rel="noreferrer noopener">reported </a>CNBC.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, NOW stock has gained over 25% in the past year. Investors can gain exposure to the stock via&nbsp;Franklin Exponential Data ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/XDAT#BATS">XDAT</a>) and Franklin Exponential Data ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39944577/servicenow-q2-earnings-revenue-beat-eps-beat-servicenow-intends-to-reinvent-every-workflow-in-every" rel="noreferrer noopener">ServiceNow Q2 Earnings: Revenue Beat, EPS Beat — &#8216;ServiceNow Intends To Reinvent Every Workflow, In Every Company, In Every Industry With GenAI&#8217;</a>
Meanwhile, ServiceNow disclosed the immediate departure of President and Chief Operating Officer CJ Desai following an investigation into the hiring of a former U.S. Army technology leader. However, the company assured that the hiring issue was a singular incident.
Earlier, ServiceNow also announced that it acquired&nbsp;Raytion, a Germany-based information retrieval technology provider.
NNACV for Now Assist, ServiceNow&#8217;s GenAI experience, doubled quarter over quarter and surpassed expectations significantly, with 11 deals exceeding $1 million in the quarter.
In an interview, Chief Executive Officer Bill McDermott highlighted that the adoption of the company&#8217;s generative AI-oriented products is contributing significantly to the increase in earnings. McDermott stated, &#8220;I doubt you could have had these extraordinary results without generative AI,&#8221; <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-24/servicenow-reports-strong-sales-on-expanded-product-line?sref=TBDibEcD" rel="noreferrer noopener">reported </a>Bloomberg.
ServiceNow expects third-quarter subscription revenue of $2.66 billion to $2.665 billion, representing growth of 20% to 20.5% on a year-over-year basis.&nbsp;
ServiceNow&#8217;s expansion of its product line has positioned it in more direct competition with peers like Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) and Workday, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDAY#NASDAQ">WDAY</a>).
McDermott emphasized that ServiceNow is experiencing significant improvement in their customer service and employee-oriented solutions, which directly compete with offerings from Salesforce and Workday, Bloomberg added.
Price Action: NOW shares are trading higher by 6.04% to $775.00&nbsp;premarket at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock
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WDAY

XDAT

Why ServiceNow Shares Are Rising Today

Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>) shares are trading lower on Friday.
On Thursday, the company unveiled Exadata Exascale, a cloud-based data architecture enhancing performance <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39732335/oracle-announces-exadata-exascale-worlds-only-intelligent-data-architecture-for-the-cloud" rel="noreferrer noopener">for Oracle Database workloads</a>.
The new service combines Exadata&#8217;s intelligent database architecture with cloud elasticity to provide high-performance capabilities for AI, analytics, and critical workloads, scalable to any size.
Kothanda Umamageswaran, senior vice president of Exadata and Scale-Out Technologies, stated, &#8220;By reducing infrastructure costs by up to 95 percent, Exadata Exascale makes it possible for small workloads and small businesses to leverage the benefits of Oracle Exadata for Oracle Databases in the cloud.&#8221;
Luis Mediero, director of cloud and Data Solutions at Quistor, commented, &#8220;Its&nbsp;ability to scale efficiently will allow us to move&nbsp;all&nbsp;workloads to high-performance environments with minimal migration time. Because it leverages Exadata technology, we also have confidence&nbsp;in our data resiliency and security, something that has proven difficult to achieve in other environments.&nbsp;In addition, Exascale&#8217;s scalability will enable&nbsp;us to grow&nbsp;resources&nbsp;quickly and&nbsp;with minimal costs&nbsp;as our business&nbsp;expands.&#8221;
On Wednesday, Oracle stated that it enhanced the AI-powered Oracle Argus and Safety One Intake solutions to support life sciences in addressing regulatory changes and managing <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/n39706804/oracle-advances-safety-case-management-for-life-science-organizations" rel="noreferrer noopener">increased adverse event case volumes</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39317779/oracles-strategic-pivot-to-ai-and-cloud-computing-yields-market-cap-surge-report" rel="noreferrer noopener">Oracle&#8217;s Strategic Pivot To AI And Cloud Computing Yields Market Cap Surge: Report</a>
ORCL stock has gained over 20% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Pacer Funds Pacer Data And Digital Revolution ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRFK#NYSE">TRFK</a>) and IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>).
Price Action: ORCL shares are down 0.29% at $142.34 premarket at the last check on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/07/39695380/oracle-stock-dives-after-xai-cuts-ties-sources-chips-directly-from-nvidia-did-elon-musk-larry-elliso" target="_blank" rel="noreferrer noopener">Oracle Stock Dives After xAI Cuts Ties, Sources Chips Directly From Nvidia — Did Elon Musk, Larry Ellison Bromance Falter?</a></li>
</ul>
Photo: Michael Vi/Shutterstock

What's Going On With Oracle Stock On Friday?

Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) shares are trading lower after the company announced a reorganization plan aimed at reallocating <a target="_blank" href="https://www.benzinga.com//node/39707780" rel="noreferrer noopener">resources to its key growth areas.</a>
As part of this plan, the company will lay off approximately 1,800 employees and close its Boise and Edmonton sites.
The company plans to hire a nearly equivalent number of employees in fiscal 2025 to support its growth initiatives, expecting overall headcount to increase.
The reorganization will incur charges estimated between $250 million and $260 million, primarily in the fourth fiscal quarter ending July 31, 2024.
These charges include $217 million to $227 million for severance payments and employee benefits, and $33 million in non-cash charges related to share-based compensation and site closures.
Intuit aims to complete these actions by the first fiscal quarter ending October 31, 2024, subject to local laws and consultations.
Also Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39620421/intuit-shares-in-focus-as-analyst-puts-new-subscription-model-genai-tax-laws-into-p" rel="noreferrer noopener">Intuit Shares In Focus As Analyst Puts New Subscription Model, GenAI, Tax Laws Into Perspective</a>
The company may also incur additional charges due to unforeseen events during the implementation of the reorganization plan.
Intuit, known for its QuickBooks accounting software, aims to increase investments in generative AI and expand into new markets such as Canada, the United Kingdom, and Australia, reported Reuters.
The company said 1,050 employees are leaving because they are not meeting expectations. The company is consolidating 80 technology roles to locations including Atlanta, Bengaluru, and Tel Aviv. About 300 roles are being eliminated to streamline operations.
Intuit stock has gained more than 34% in the last 12 months. Investors can gain exposure to the stock via IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and Global X FinTech ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FINX#NASDAQ">FINX</a>).
Price Action: INTU shares are trading lower by 4.15% at $623.45 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

FINX

INTU

Why Software Company Intuit's Shares Are Trading Lower Today

Despite the stronger-than-expected increase in non-farm payrolls last month, the Bureau of Labor Statistics&#8217; June Employment Situation report indicated an overall cooling trend <a href="https://www.benzinga.com/markets/equities/24/07/39646053/mixed-picture-for-fed-june-payrolls-rise-more-than-expected-unemployment-rate-ticks-up-wage-grow">in the U.S. labor market. </a>
Significant downward revisions of 111,000 fewer payrolls in the previous two reports, an unexpected rise in the unemployment rate, and the anticipated slowdown in wage growth are prompting most economists to believe the Federal Reserve may be more confident about announcing an interest rate cut, with September being the nearest option. 
Investors seem to share this view, with the probability of a September rate cut rising from 72% to 76% after the jobs report&#8217;s release, and the expected cuts increasing from 52 to 55 basis points by the end of the year.
As a result, ETFs tracking interest-rate sensitive industries – such as the iShares MSCI Global Gold Miners ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RING#NASDAQ">RING</a>) and the iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>) – outperformed on Friday, up 2.7% and 1% respectively.
<h3 class="wp-block-heading">June Jobs Report: Key Statistics</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th></th>
<th>June 2024</th>
<th>Consensus</th>
<th>May 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>Nonfarm payrolls</td>
<td>206,000</td>
<td>189,000</td>
<td>218,000 (downwardly revised from 272,000)</td>
</tr>
<tr>
<td> goverment payrolls</td>
<td>70,000</td>
<td></td>
<td>25,000</td>
</tr>
<tr>
<td> private payrolls</td>
<td>136,000</td>
<td></td>
<td>193,000</td>
</tr>
<tr>
<td>Unemployment rate</td>
<td>4.1%</td>
<td>4%</td>
<td>4%</td>
</tr>
<tr>
<td>Average hourly earnings (m/m)</td>
<td>0.3%</td>
<td>0.3%</td>
<td>0.4%</td>
</tr>
<tr>
<td>Average hourly earnings (y/y)</td>
<td>3.9%</td>
<td>3.9%</td>
<td>4.1%</td>
</tr>
</tbody>
</table>
</figure>
Analyst Perspective
Joe Brusuelas, chief economist at RSM US LLP, noted that while demand for labor remains solid, it is slowing. &#8220;Fears of a wage spiral which would result in a resurgence of inflation can finally be put to rest,&#8221; Brusuelas said, as the three-month average annualized pace of average hourly earnings has eased to 3.5%. 
He emphasized that the primary takeaway from the June employment data is its consistency with economic normalization, aligning with other growth and inflation data pointing towards an easing of the Federal Reserve&#8217;s restrictive policy rate by September.
He warned that the Fed must avoid talking itself into a corner that could result in falling behind the curve, as it did during the first year of the pandemic. &#8220;As the economy cools, the Fed needs to relax its too restrictive policy rate to avoid an unnecessary termination of the business cycle.&#8221;
James E. Thorne, chief market strategist at Wellington Altus, observed the substantial net revisions of 111,000 jobs from the prior two months, combined with the modest increase of 206,000 jobs in the most recent period, indicating a volatile and uncertain labor market. 
&#8220;The government&#8217;s significant increase of 70,000 jobs raises questions about the sustainability of such growth,&#8221; Thorne said, adding that the impact of extreme levels of government spending should be considered. 
He criticized the Federal Reserve&#8217;s potential delayed response, noting, &#8220;A mere 25 basis points cut will not be sufficient to reverse the downward momentum in the private sector. The Fed is late, and the boom/bust cycle in rates continues.&#8221;
Bill Adams, chief economist for Comerica Bank, remarked that the unemployment rate in June rose to its highest since late 2021, despite good monthly job growth offset by downward revisions to March and April. 
&#8220;The current data suggests the economy is growing, but its pace has cooled considerably over the last year,&#8221; Adams said, aligning this with a gradual rise in the unemployment rate. 
The economist highlighted that the uptick in the unemployment rate was due to an increase in labor force participation, with prime-age participation reaching its highest since 2002. &#8220;The job market looks considerably cooler in the June report than in May, and the unemployment rate at 4.1% is above where the median Fed policymaker projected it at year-end,&#8221; he explained. 
Adams suggested that while the labor market isn't soft enough to justify an interest rate cut at this month's meeting, the cooling trend is evident, and a rate cut could come in September if inflation holds.
Quincy Krosby, chief global strategist for LPL Financial, highlighted the market&#8217;s immediate reaction to the 4.1% unemployment rate, noting that both the policy-sensitive 2-year and 10-year Treasury yields edged lower. 
She raised increasing evidence that the Fed will need to initiate a rate easing cycle to support its maximum employment mandate. &#8220;The cooling in the labor market, despite the higher than consensus estimate for the headline payroll print, portends a broader economic downturn,&#8221; Krosby said.
She warned that the consumer&#8217;s growing concern about job security could lead to a frigid summer for the economy, especially with the latest ISM Manufacturing and Service Sector PMI data indicating a broader economic contraction. 
&#8220;Today&#8217;s report should have Fed officials troubled that the desired cooling in the economy could transition into a frigid summer,&#8221; she concluded.
Read now:
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<li><a href="https://www.benzinga.com/news/24/07/39640147/keir-starmer-to-become-uk-prime-minister-as-labour-wins-big-over-rishi-sunaks-conservatives-mohamed">Keir Starmer To Become UK Prime Minister As Labour Wins Big Over Rishi Sunak&#8217;s Conservatives — Mohamed El-Erian Shares Two Key Takeaways</a></li>
</ul>
Photo: Shutterstock

Macro Economic Events

Bonds

Treasuries

Economics

Fed Needs To Frontload Interest Rate Cuts, Say 4 Economists: 'Labor Market's Cooling Trend Is Quite Clear'

June closed on a high note for the stock market, with the S&amp;P 500, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), gaining 3.2%, despite significant disparities in <a href="https://www.benzinga.com/etfs">sector and industry performances.</a>
The technology sector, as tracked by the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), led the 11 S&amp;P 500 sectors in performance last month, surging 7.7% and achieving its strongest monthly gain this year. 
In stark contrast, utilities lagged, with the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) dropping 6.3%, marking the worst month since September 2023.
<h3 class="wp-block-heading">Top Performing Industry ETFs In June</h3>
The iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>) rallied 11.3% last month, topping the rankings among industry ETFs. 
Hot on its heels was the VanEck Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NYSE">SMH</a>), which climbed 8.4%, showcasing strong momentum in the semiconductor sector. 
Since hitting its low in October 2023, the VanEck Semiconductor ETF has rallied by an astounding 87%, and over 200% since October 2022, reflecting the spectacular growth in AI-driven stocks.
Securing the third spot in terms of monthly performance, the SPDR S&amp;P Biotech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XBI#NYSE">XBI</a>) gained 4%. 
Within the software sector, standout performers included Adobe Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>), which surged by 24.9%, CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) with a 22.1% increase, and Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>), up by 20%.
Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>) led chipmakers with a 21% rise. Universal Display Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLED#NYSE">OLED</a>) followed closely with a 19.7% increase, and Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) posted an 18% gain. 
Among chipmakers, Broadcom Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>), Universal Display Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLED#NYSE">OLED</a>) and Qorvo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRVO#NASDAQ">QRVO</a>) led gains, with performances of 21%, 19.7% and 18%, respectively.
In the biotech arena, Scilex Holding Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCLX#NASDAQ">SCLX</a>) experienced a 78.8% spike, making it the top industry gainer. Alnylam Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALNY#NASDAQ">ALNY</a>) surged by 63.7%, while Avidity Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNA#NASDAQ">RNA</a>) saw a robust 52% increase.
<h3 class="wp-block-heading">Top Performing Industry ETFs By Inflows In June</h3>
Examining fund flows, the VanEck Semiconductor ETF has emerged as a top choice for investors, attracting over $1 billion according to Tradingview data, and achieving its ninth consecutive month of inflows. Year-to-date the fund has registered $4.60 billion in net inflows.
The iShares Expanded Tech-Software Sector ETF pulled in approximately $480 million in June, breaking a six-month streak of outflows and registering its highest monthly inflows since September 2022. Yet, its year-to-date net flows are still negative, down by $1.15 billion. 
The iShares Biotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NYSE">IBB</a>) collected $148 million in inflows last month, reflecting strong investor interest. Another industry witnessing robust inflows was represented by the Global X Copper Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>), which attracted about $130 million.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39577080/manufacturing-contracts-more-than-expected-in-june-putting-pressure-on-profitabilit">Manufacturing Contracts More Than Expected In June, &#8216;Putting Pressure On Profitability&#8217;: Yields Rise, Stocks Fall</a></li>
</ul>
Photo: Shutterstock

Top Performing Industry ETFs In June: Software Leads Returns, Chipmakers Attract Most Inflows

Adobe Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBE#NASDAQ">ADBE</a>) shares are trading lower after the company was legally challenged by the U.S. Federal Trade Commission, which is accusing the software giant and two of its executives, Maninder Sawhney and David Wadhwani, of deceptive practices <a href="https://www.ftc.gov/news-events/news/press-releases/2024/06/ftc-takes-action-against-adobe-executives-hiding-fees-preventing-consumers-easily-cancelling">related to its subscription cancellation policies</a>.
The case, filed by the Department of Justice on behalf of the FTC, alleges significant consumer manipulation through Adobe&#8217;s subscription models.
The complaint asserts Adobe did not clearly disclose the hefty early termination fees associated with its &#8220;annual paid monthly&#8221; subscription plan.
This lack of transparency reportedly trapped consumers into costly year-long commitments.
Samuel Levine, director of the FTC's Bureau of Consumer Protection, criticized the company for obscuring the terms during the signup process and complicating the cancellation procedure to deter consumers from discontinuing their services.
Adobe responded to the FTC&#8217;s allegations. "Subscription services are convenient, flexible and cost effective to allow users to choose the plan that best fits their needs, timeline and budget,&#8221; Dana Rao, General Counsel and Chief Trust Officer said in response<a href="https://news.adobe.com/news/news-details/2024/Adobes-Statement-Regarding-Federal-Trade-Commission-Complaint/default.aspx"> via press release.</a> &#8220;Our priority is to always ensure our customers have a positive experience. We are transparent with the terms and conditions of our subscription agreements and have a simple cancellation process. We will refute the FTC's claims in court."
Also Read: <a href="https://www.benzinga.com/news/earnings/24/06/39331628/adobes-optimistic-forecast-for-new-ai-tech-infused-products-attract-investor-cheer-stock-soars">Adobe&#8217;s Optimistic Forecast For New AI Tech-Infused Products Attract Investor Cheer, Stock Soars</a>
Since shifting to a subscription-based model in 2012, Adobe has heavily promoted this plan, which contributed significantly to its revenue.
However, the FTC claims that Adobe&#8217;s marketing strategies are misleading, showing the monthly cost prominently while hiding the fact that canceling within the first year incurs a fee equivalent to 50% of the remaining balance.
Consumers have expressed frustration over these policies to both the FTC and the Better Business Bureau, with many stating they were unaware of the annual commitment and the associated termination fees.
The lawsuit further details the obstacles consumers face when trying to cancel, including complicated navigation through the Adobe website and uncooperative customer service tactics. 
The case highlighted a broader issue of transparency and fairness in digital marketplaces, challenging Adobe's practices under the Restore Online Shoppers' Confidence Act.
Adobe reported second-quarter revenue of $5.31 billion and adjusted earnings of $4.48 per share, beating the consensus estimate of $5.292 billion and <a href="https://www.benzinga.com/news/earnings/24/06/39321927/adobe-q2-earnings-revenue-beat-eps-beat-strong-guidance-momentum-due-to-highly-differentiated-appro">$4.39 per share respectively</a>.
Adobe stock has gained about 6% in the last 12 months. Investors can gain exposure to the stock via&nbsp;IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and Invesco AI And Next Gen Software ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGPT#NYSE">IGPT</a>).
ADBE Price Action: ADBE shares are trading lower by 1.911% at $519.46 at last check Monday.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39166296/shutterstock-expands-ai-horizons-new-partnership-with-reka-ai-to-enhance-digital-asset-metadata">Shutterstock Expands AI Horizons: New Partnership with Reka AI to Enhance Digital Asset Metadata</a>
Disclaimer: This content was partially produced with the help of AI and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Government

IGPT

Why Adobe's Shares Are Trading Lower Monday

Software giant Adobe Inc's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADBI#NASDAQ">ADBI</a>) shares are trading higher in premarket on Friday.
Adobe is poised to experience its largest stock surge in nearly four years, following an optimistic sales forecast for its creative products infused <a target="_blank" href="https://www.benzinga.com/topic/artificial-intelligence" rel="noreferrer noopener">with new AI technology</a>.
This positive projection comes as Adobe reports a greater adoption of its innovative AI tools.
For the third quarter, Adobe anticipates its digital media net new annual recurring revenue to hit $460 million, surpassing the average <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39321223/adobe-reports-record-revenue-in-q2-fiscal-2024" rel="noreferrer noopener">forecast of $435.2 million</a>.
Despite recent concerns among investors that generative AI technology might diminish its market share, Adobe's integration of AI into its flagship products appears to be resonating with its customer base.
This shift has allowed Adobe to maintain a competitive edge against major software companies like Salesforce Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) and ServiceNow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) and agile startups focusing on AI, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-06-13/adobe-projects-strong-profit-signaling-it-s-part-of-ai-boom?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg reports</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38991683/adobe-boosts-generative-ai-offerings-with-latest-move" rel="noreferrer noopener">Adobe Boosts Generative AI Offerings With Latest Move</a>
Adobe's stock surged by about 15% in premarket trading today, indicating a significant market response to its strategic direction.
This jump could mark the biggest intraday rise since March 2020.
Amid a turbulent year, Adobe has raised its fiscal-year profit forecast up to $18.20 per share, <a target="_blank" href="https://www.benzinga.com/news/earnings/24/06/39321927/adobe-q2-earnings-revenue-beat-eps-beat-strong-guidance-momentum-due-to-highly-differentiated-appro" rel="noreferrer noopener">an adjustment from its earlier estimate of $18</a>.
The company reported a 10% increase in sales, amounting to $5.31 billion in the fiscal second quarter.
Adobe's proprietary AI model, Firefly, has been integrated into several products, including Photoshop and Illustrator, and is now being developed for Premiere, its video-editing software.
Firefly has already generated over 9 billion images, demonstrating its extensive use and potential impact on creative workflows.
Adobe stock has lost more than 4% in the last 12 months. Investors can gain exposure to the stock via IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and Invesco AI And Next Gen Software ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGPT#NYSE">IGPT</a>).
Price Action: At the last check on Friday, ADBE shares were trading higher by 15.01% at $527.15 in the premarket session.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

Earnings

Guidance

ADBI

Adobe's Optimistic Forecast For New AI Tech Infused Products Attract Investor Cheer, Stock Soars

Salesforce, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/news/24/06/39206823/whats-happening-with-cloud-software-company-salesforces-shares-on-thursday" rel="noreferrer noopener">nearly flat on Friday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, CRM stock has gained over 17% in the past year. Investors can gain exposure to the stock via IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and REX FANG &amp; Innovation Equity Premium Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FEPI#NASDAQ">FEPI</a>).
Yesterday, the company&#8217;s shares were&nbsp;ticking higher after it announced London as the location <a target="_blank" href="https://www.benzinga.com/news/24/06/39206823/whats-happening-with-cloud-software-company-salesforces-shares-on-thursday" rel="noreferrer noopener">for its first artificial intelligence (AI) center</a>.
The company&#8217;s facility aims to foster collaboration among industry experts, developers, and customers, facilitating innovation and skill development in AI, reported Reuters.
Upgrading Slack For Task Management
Yesterday, Salesforce released a <a target="_blank" href="https://www.salesforce.com/news/stories/slack-lists-news/" rel="noreferrer noopener">statement </a>highlighting that Slack has introduced Slack lists, integrating project and task management directly into its platform to streamline workflows.
This aims to address the challenges businesses face with scattered conversations, app silos, and time-consuming updates across platforms.
With Slack lists, teams can manage projects, collaborate on tasks, and automate workflows within Slack, enhancing efficiency and alignment. This development signifies a step towards simplifying work processes and improving productivity for businesses using Slack.
&#8220;We are at the beginning of a massive opportunity for our customers to connect with their customers in a whole new way with AI. As the world&#8217;s #1 AI CRM, we&#8217;re incredibly well positioned to help companies realize the promise of AI over the next decade,&#8221; said&nbsp;Marc Benioff, <a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/39086924/salesforce-stock-is-tumbling-thursday-whats-going-on" rel="noreferrer noopener">chair and CEO of Salesforce, while reporting&nbsp;first-quarter financial results.&nbsp;</a>
Price Action: CRM shares are trading lower by 0.02% to $242.71 at last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Photo via Shutterstock

Software company Salesforce Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRM#NYSE">CRM</a>) shares are ticking higher after the company announced London as the location for its first artificial intelligence (AI) center.
Salesforce shares are trading higher by 3.36% at $244.64 at last check Thursday.
What Happened: The company&#8217;s facility aims to foster collaboration among industry experts, developers, and customers, facilitating innovation and skill development in AI, reported Reuters.
Salesforce is hosting 18,000 attendees at its annual London World Tour event on Thursday. A year ago, the U.S. cloud software company <a href="https://www.benzinga.com/markets/equities/23/06/33054986/salesforce-plans-4b-investment-in-its-uk-business-over-5-years">announced a $4 billion investment in Britain </a>over the next five years, with a focus on advancing AI technologies.
Zahra Bahrololoumi, chief executive of Salesforce U.K. and Ireland, highlighted the enthusiasm among customers regarding AI&#8217;s potential benefits, coupled with a cautious approach to emerging risks. 
&#8220;No company will adopt AI unless they can trust it, which is why we are so well positioned,&#8221; she said, referring to Salesforce&#8217;s Einstein technology that includes a &#8220;Trust Layer&#8221; to protect customer data.
Related Read: <a href="https://www.benzinga.com/markets/equities/24/06/39190698/snowflake-ceo-targets-ai-acquisitions-to-boost-growth-report">Snowflake CEO Targets AI Acquisitions To Boost Growth: Report</a>
Why It Matters: Salesforce is &#8220;sending a clear message to customers and partners on AI,&#8221; Bahrololoumi emphasized.
The goal is to work closely with customers and partners to harness AI&#8217;s transformative potential responsibly.
Salesforce is &#8220;deeply committed to working closely together so that you can reap the rewards of this transformative technology, while ensuring it is a force for good,&#8221; Bahrololoumi said. 
In May, Salesforce posted its first quarterly revenue miss since 2006, along with <a href="https://www.benzinga.com/24/05/39112269/salesforce-still-confident-about-becoming-an-ai-era-winner-despite-disappointing-quarter">providing a softer-than-expected guidance</a>.
Analyst Reaction: Goldman Sachs analysts&nbsp;find Salesforce&nbsp;to be&nbsp;"an under-appreciated generative AI winner.&#8221;&nbsp;There is&nbsp;room for meaningful margin expansion, they say.
Price Action: Salesforce stock has gained about 11% in the last 12 months. Investors can gain exposure to the stock via IShares Expanded Tech-Software Sector ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IGV#BATS">IGV</a>) and First Trust Dow Jones Internet Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDN#NYSE">FDN</a>).
Disclaimer:This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

First Trust Dow Jones Internet Index Fund

What's Happening With Cloud Software Company Salesforce's Shares On Thursday?

No serious attempt to close the bullish gap yesterday, and triple witching ahead today into reasonably good S&P 500 market breadth.

Gold, Silver Or Equities

How To Invest In AI Vs. Tech In A Portfolio

The SPX index hit a new all-time high on Thursday, but it then closed well off its high. The breakout wasn't the best, and combined with the nervousness about the election, I think the market will continue to be difficult until the end of October.

A Difficult Market Until October

It‘s one more day of digesting not just the 50bp cut catching most off guard, but also about the rate cut path (full dot plot till end of 2025) ahead.

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