Shares of Salesforce.com Inc. (NYSE: CRM), a provider of enterprise cloud computing and social enterprise solutions, are soaring in trading today. At last check, CRM shares were trading 8.49% higher at $158.29 on above average volume of 5.32 million. The stock hit an intra-day high of $158.29 in trading today.
CRM shares are soaring in trading today after the company reported its third-quarter financial results. For the quarter ended October 31, 2012, CRM reported revenue of $788 million, up 35% over the same period in the previous year. The company reported a loss of $1.55 per share for the third quarter. On a non-GAAP basis, the company reported earnings of $0.33 per share for the third quarter.
Marc Benioff, Chairman and CEO of Salesforce.com, said that CRM is the first enterprise cloud computing company to exceed a $3 billion annual revenue run rate, with outstanding third-quarter revenue growth at 35% in dollars and 37% in constant currency.
Shares of St. Jude Medical Inc. (NYSE: STJ), a developer, manufacturer and distributor of cardiovascular medical devices for the global cardiac rhythm management cardiology and cardiac surgery and atrial fibrillation therapay areas and neurostimulation medical devices for management of chronic pain, are sinking in trading today.
At last check, STJ shares were trading 11.65% lower at $31.55 on above average volume of 21.50 million. The stock fell to a 52-week low of $30.25 in trading today.
SJM shares are sinking in trading today after an inspection report released by the FDA cited major flaws in STJ’s oversight of design changes in its Durata line of implantable defibrillator leads.
Shares of Skechers USA Inc. (NYSE: SKX), a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under several lines, are soaring in trading today.
At last check, SKX shares were trading 10.73% higher at $18.78 on above average volume of 1.15 million. The stock hit an intra-day high of $19.26. SKX shares have gained more than 17% in the last three trading sessions.
SKX shares are soaring following a rating upgrade from Susquehanna. Analysts at Susquehanna upgraded SKX’s shares from a Neutral to a Positive rating in a research note released earlier today.
Shares of Scholastic Corp. (NASDAQ: SCHL), a global children’s publishing, education and media company, have plunged in trading today. At last check, SCHL shares were trading 18.31% lower at $26.01 on above average volume of 1.58 million. The stock fell to an intra-day low of $25.03 in trading today.
SCHL shares are sinking in trading today after the company slashed its 2013 profit outlook. The company also said that its revenue will be $100 million lower-than-expected. The company expects earnings for fiscal year ending May 31, 2013 to be between $1.40 per share and $1.60 per share, compared to previous guidance range of $2.20-$2.40 per share. Revenue for the fiscal year 2013 is expected to be between $1.8 billion and $1.9 billion, compared to previous guidance range of $1.9 billion to $2 billion.
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