Futures are sharply higher this morning, led by shares of CRM who beat earnings last night. This is especially notable because analysts said they’d miss and also because they’re the largest SAAS company and that sector has led the tech sector to the downside with horrific consequences.
Salesforce beats by $0.04, reports revs in-line; guides Q2 EPS below consensus, revs below consensus; raises FY23 EPS guidance above consensus, raises non-GAAP operating margin guidance, lowers revenue guidance below consensus
Energy is also up across the board, with Natty +4%. Yesterday we had constructive action in some of the FANG stocks and today we are seeing CRM +9%. If I wasn’t so biased to the downside, I’d argue the possibility for a rally.
NEVERTHELESS, I will not be fooled or tricked into a fall sense of optimism. I will of course play the long side and hopefully profit from the new found ebullience of growth stocks.
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according to @ericnuttall 8 of the biggest OPEC-10 members UNDERPRODUCED their allowed quota in May
Why I wonder?
@ericnuttall 8 of the biggest OPEC-10 members UNDERPRODUCED their allowed quota in May, and I’m supposed to be spooked by a headline about a potential opening of the floodgates??? Story just happens to come out on month end…???
according to @ericnuttall 8 of the biggest OPEC-10 members UNDERPRODUCED their allowed quota in May
Why I wonder?
@ericnuttall 8 of the biggest OPEC-10 members UNDERPRODUCED their allowed quota in May, and I’m supposed to be spooked by a headline about a potential opening of the floodgates??? Story just happens to come out on month end…???
‘CRM’ conjures up Slim Pickens in that fabulous B52 bomber cockpit scene…