On CNBC's “Halftime Report Final Trades,” on Thursday, Bryn Talkington, managing partner of Requisite Capital Management, said the Salesforce, Inc. (NYSE:CRM) chart is starting to rebuild itself. The company is expected to report 19% growth when its earnings come out in December.
As per the recent news, Salesforce, on Oct. 15, set a new long-term revenue target of over $60 billion by fiscal year 2030, excluding Informatica, signaling a 10%+ organic CAGR from fiscal 2026 to fiscal 2030. The company also introduced its Profitable Growth Framework, “50 by fiscal 2030,” aiming for the sum of constant-currency subscription and support growth, as well as an adjusted operating margin, to reach 50% by fiscal 2030.
Malcolm Ethridge, managing partner at Capital Area Planning Group, said International Business Machines Corporation (NYSE:IBM) reported a 9% year-over-year revenue growth.
On Oct. 22, IBM reported third-quarter revenue of $16.33 billion, beating the consensus estimate of $16.09 billion, according to Benzinga Pro. The company reported third-quarter adjusted earnings of $2.65 per share, beating analyst estimates of $2.45 per share.
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Stephanie Link, chief investment strategist, head of investment solutions and portfolio manager at Hightower Advisors, said Las Vegas Sands Corp. (NYSE:LVS) reported another beat-and-raise quarter.
Las Vegas Sands, on Oct. 22, posted third-quarter revenue of $3.33 billion, beating analyst estimates of $3.03 billion. The company reported third-quarter adjusted earnings of 78 cents per share, beating estimates of 60 cents per share.
Joshua Brown, co-founder and CEO of Ritholtz Wealth Management, picked Netflix, Inc. (NASDAQ:NFLX) as his final trade.
On the earnings front, Netflix reported third-quarter revenue of $11.51 billion on Oct. 21, up 17.2% year over year. The revenue total missed a Street consensus estimate of $11.514 billion, according to data from Benzinga Pro. The company reported earnings per share of $5.87, missing the Street consensus estimate of $6.97.
Price Action:
- Salesforce shares fell 0.6% to close at $255.05 on Thursday.
- IBM shares fell 0.9% to close at $285.00 during the session.
- Las Vegas Sands shares gained 12.4% to close at $56.89 on Thursday.
- Netflix shares fell 0.23% to settle at $1,113.59.
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