Dow Jones futures rose slightly late Tuesday, along with S&P 500 futures and Nasdaq futures, after the stock market rallied modestly in the regular session. Earnings reports from Salesforce.com (CRM) and Nutanix (NTNX) provided good news after hours for the software sector and the stock market rally. Salesforce stock and Nutanix stock rallied late. So did Palo Alto Networks (PANW), Splunk (SPLK) and Workday (WDAY), which also report earnings this week, along with other software stocks.......MUCH MORE
Salesforce earnings shot up 45% to 61 cents a share, beating views by 11 cents. Revenue for the cloud-based on-demand pioneer rose 26% to $3.39 billion, modestly topping. Salesforce earnings guidance for Q4 was slightly below adjusted estimates, but it guided higher for Q4 revenue and the next fiscal year.
Salesforce stock spiked 7.6% in late trading. That suggests a move back above its 200-day moving average. Salesforce stock, which rose 0.9% to 127.54 in regular trading, hit a record 161.19 on Oct. 1....
CRM traded up $1.13 during the regular session and was recently up $9.87 (7.74%) to $$137.41 in after hours action
That $161 top-tick was up from ~$6.00 a decade ago which was why we noted last week, in the second half of "Dow Jones Falls 1,000 Points In 2 Days (Semiconductors Surge tho)":
...Then the panther fell out of the tree and sees:
The stock that will signal a turn in sentiment is Salesforce which led the whole Software is Eating the World on the upmove and then, as the Russians say, The World Eats the SaaS. Or something.
And it appears CRM has done so.
For now. We'll see how it opens tomorrow.