{"id":89509,"date":"2024-01-29T19:48:40","date_gmt":"2024-01-30T00:48:40","guid":{"rendered":"https:\/\/ifintechworld.com\/?p=89509"},"modified":"2024-01-29T19:48:42","modified_gmt":"2024-01-30T00:48:42","slug":"salesforce-snowflake-pure-storage-immunogen-tesla-ford-snap-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=89509","title":{"rendered":"Salesforce, Snowflake, Pure Storage, Immunogen, Tesla, Ford, Snap, and More Market Movers"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Stocks rose Thursday\u00a0after the Federal Reserve\u2019s preferred inflation gauge matched expectations. The
\n Dow Jones Industrial Average
\n hit its highest close of the year.<\/p>\n

These stocks made moves Thursday:\u00a0<\/p>\n

\n

\n Salesforce,<\/span>
\n the provider of cloud-based customer relationship management software, reported fiscal third-quarter adjusted earnings of $2.11 a share on revenue of $8.72 billion. Earnings beat analysts\u2019 estimates while revenue was slightly higher.
\n Salesforce
\n said it expects fourth-quarter adjusted profit of between $2.25 and $2.26 a share on revenue of between $9.18 billion and $9.23 billion. Analysts had been forecasting non-GAAP profit of $2.18 a share on revenue of $9.2 billion. The stock rose 9.4%.<\/p>\n

Third-quarter adjusted earnings at
\n Snowflake
\n came in better than expected and the software company\u2019s guidance for fiscal fourth-quarter product revenue of $716 million to $721 million topped estimates of $696 million. Shares of the cloud data warehouse software company rose 7.1%.<\/p>\n

\n Pure Storage
\n was down 12% after the provider of flash-memory based enterprise storage products issued disappointing revenue guidance for the fiscal fourth quarter and fiscal year. The company blamed the miss on a combination of a business model transition and the delayed fulfillment of a large customer order.<\/p>\n

\n Tesla
\n began its\u00a0Cybertruck\u00a0delivery event Thursday afternoon in Austin, Texas. It was livestreamed on\u00a0
\n Tesla
\n \u2018s website. Tesla planned to hand over the initial batch of\u00a0Cybertrucks\u00a0to buyers. The event will start answering two key questions for investors: Will the Cybertruck be a big seller and will the\u00a0truck\u00a0help boost sales of other Tesla models? Tesla shares were down 1.8%. <\/p>\n

\n Ford Motor
\n fell 3.1% after the auto maker said it expects adjusted earnings before interest and taxes in 2023 of $10 billion to $10.5 billion, compared with guidance provided in July of between $11 billion and $12 billion.\u00a0Ford had withdrawn guidance in October because of the strike by the United Auto Workers union. The guidance issued Thursday includes $1.7 billion in strike-related costs.<\/p>\n

\n Immunogen
\n surged 83% to $29.35 after
\n AbbVie
\n \u00a0agreed to buy the cancer treatment developer for $10.1 billion, or $31.26 a share, a 95% premium to the stock\u2019s closing price of $16.07 on Wednesday.
\n AbbVie
\n was up 2.8%.<\/p>\n

\n Discover Financial Services
\n rose 4.6% after saying it would stop accepting new applications for student loans by Feb. 1, 2024, as it seeks strategic alternatives, including a sale of the Discover Student Loans portfolio.<\/p>\n

\n Snap
\n gained 6.6% after shares of the Snapchat parent were upgraded to Buy from Hold at Jefferies.
\n Pinterest
\n also was upgraded to Buy at Jefferies and the stock gained 2.4%.<\/p>\n

\n Synopsys
\n beat fiscal fourth-quarter analyst estimates for adjusted profit and sales and the chip design software maker\u2019s guidance for its first quarter topped expectations. In an interview with\u00a0Barron\u2019s<\/em>, new CEO Sassine Ghazi said
\n Synopsys
\n sees multiple ways to leverage artificial intelligence in its business. Synopsys was down 1.6%.<\/p>\n

\n Hewlett Packard Enterprise
\n rose 2.4% after announcing an expanded collaboration in artificial intelligence with
\n Nvidia.<\/span>
\n In addition, the stock was upgraded to Equal Weight from Underweight at
\n Morgan Stanley
\n and the price target was left unchanged at $16.<\/p>\n

\n Kroger
\n said it expects full-year same-store sales excluding fuel to rise 0.6% to 1%. In September, it called for an increase of 1% to 2%. Shares of the grocer, which blamed a slowdown on food inflation and broader economic pressure, rose 1.4%.<\/p>\n

Write to Joe Woelfel at joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks rose Thursday\u00a0after the Federal Reserve\u2019s preferred inflation gauge matched expectations. The Dow Jones Industrial Average hit its highest close of the year. These stocks made moves Thursday:\u00a0 Salesforce, the provider of cloud-based customer relationship management software, reported fiscal third-quarter adjusted earnings of $2.11 a share on revenue of $8.72 billion. Earnings beat analysts\u2019 estimates […]<\/p>\n","protected":false},"author":1,"featured_media":89510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-89509","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nSalesforce, Snowflake, Pure Storage, Immunogen, Tesla, Ford, Snap, and More Market Movers | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Stocks rose Thursday\u00a0after the Federal Reserve\u2019s preferred inflation gauge matched expectations. 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