Most of Wall Street rises, but indexes dip on Salesforce's worst day in 20 years
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Most U.S. stocks rose Thursday following mixed profit reports from big companies and signals that the economy may be cooling, but the worst day for Salesforce’s stock in nearly 20 years helped drag indexes lower. The Standard & Poor’s 500 sank 0.6% even though the majority of stocks across Wall Street rose. The Dow Jones industrial average fell 0.9%, and the Nasdaq composite dipped 1.1%. Salesforce lost a fifth of its value after reporting weaker revenue for the latest quarter than analysts expected. Kohl’s fell even more, 23.3%, after reporting a surprise loss for the latest quarter when analysts were expecting to see a profit. Best Buy topped forecasts even though its revenue fell short last quarter, and its stock rose 12.7%. Foot Locker ran 17% higher after likewise reporting better-than-expected profit despite ringing up sales shy of analysts’ forecasts. C3.ai jumped 20.3% after the software company topped expectations for profit and revenue in the latest quarter. HP gained 18.1% after edging past forecasts for earnings.
#WallStreet #Salesforce #StockMarket #ProfitReports #Economy #Standard&Poor’s500 #DowJones #Nasdaq #Kohl’s #BestBuy #FootLocker #C3ai #Hp
https://www.latimes.com/business/story/2024-05-30/most-of-wall-street-rises-but-indexes-dip-on-salesforces-worst-day-in-20-years
Los Angeles Times /
npub1ka…ct50x
2024-05-30 22:06:01
Author Public Key
npub1kat3x50s05kl9v0lqxq5qsl0znf0eu2rwyeq4xyplj80ga740k9q9ct50xPublished at
2024-05-30 22:06:01Event JSON
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"content": "Most of Wall Street rises, but indexes dip on Salesforce's worst day in 20 years\n==========\n\nMost U.S. stocks rose Thursday following mixed profit reports from big companies and signals that the economy may be cooling, but the worst day for Salesforce’s stock in nearly 20 years helped drag indexes lower. The Standard \u0026 Poor’s 500 sank 0.6% even though the majority of stocks across Wall Street rose. The Dow Jones industrial average fell 0.9%, and the Nasdaq composite dipped 1.1%. Salesforce lost a fifth of its value after reporting weaker revenue for the latest quarter than analysts expected. Kohl’s fell even more, 23.3%, after reporting a surprise loss for the latest quarter when analysts were expecting to see a profit. Best Buy topped forecasts even though its revenue fell short last quarter, and its stock rose 12.7%. Foot Locker ran 17% higher after likewise reporting better-than-expected profit despite ringing up sales shy of analysts’ forecasts. C3.ai jumped 20.3% after the software company topped expectations for profit and revenue in the latest quarter. HP gained 18.1% after edging past forecasts for earnings.\n\n#WallStreet #Salesforce #StockMarket #ProfitReports #Economy #Standard\u0026Poor’s500 #DowJones #Nasdaq #Kohl’s #BestBuy #FootLocker #C3ai #Hp\n\nhttps://www.latimes.com/business/story/2024-05-30/most-of-wall-street-rises-but-indexes-dip-on-salesforces-worst-day-in-20-years",
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