salesforce.com, inc. (CRM) reported third-quarter EPS of $0.21 compared to the consensus estimate of $0.19. Revenues increased 23.7% from last year to $1.71 billion. Analysts expected revenues of $1.70 billion. For the current quarter, the pioneer in software-as-a-service provided EPS guidance of $0.18 to $0.19 versus consensus of $0.19 per share. The company also issued revenue projection of $1.78 to $1.79 billion, compared to the consensus revenue estimate of $1.78 billion.
Salesforce.com stock was up more than 5% to $81.50 in pre-market hours, following the release of its results.
Square (SQ) – Shares of the San Francisco-based company will begin trading today on the NYSE at $9 a share, well below the expected range of $11 to $13, and also below the $15.46/shr the electronic payments company had set for private investors during its fundraising round last year. That puts Square’s valuation, a company that has lost more than $300 million between the fiscal 2012 and 2014, at around $2.9 billion.
Shares Yahoo! Inc. (YHOO) were up slightly this morning following a WSJ report that said the web portal is being pressured by activist investor Starboard Value to drop its planned spinoff of its Alibaba (BABA) stake. Starboard, which said it is a “significant shareholder” in Yahoo, believes the spinoff comes with the risk of a hefty tax bill. The Journal reports Yahoo is being urged instead to sell its struggling Internet business.
Shares of KaloBios Pharmaceuticals, Inc. (KBIO) rocketed over 687 percent to $16.30 in pre-market hours following news that former Retrophin CEO and current Turing Pharma CEO Martin Shkreli bought 1.2 million shares, or more than 50% of KaloBios stock.
Shares were bought Monday-Tuesday at prices ranging from $0.30 to 2.45 per share.
KBIOS topped $19 in extended trading Wednesday in New York.
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