Cloud Giant Rips on Blowout Quarter

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A cloud-computing giant was highlighted on Market Action this week. It’s posed to open higher today after a blowout quarter.

Salesforce.com (CRM) reported earnings of $0.61 a share in the third quarter. With the Street expecting earnings of $0.50 per share, up from $0.39 during the same period last year, the stock rose 8 percent in the pre-market.

For the fourth quarter, CRM expects adjusted earnings of $0.54 to $0.55 a share on revenue of $3.55 billion to $3.56 billion, while analysts estimated $0.57 a share on revenue of $3.52 billion.

Three other companies, J.M. Smucker (SJM), Dick’s Sporting Goods (DKS) and Burlington Stores (BURL), issue earnings reports prior to the stock market open Wednesday.

Two of the three ended Tuesday in the green. SJM closed Tuesday at $109.18 up $0.17 and DKS closed at $36.33 up $0.34, while BURL ended the Tuesday regular market session at $148.56 down $1.13.

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Dr. Don Pratl is Director of Trader Development and Education for TradeStation. He joined TradeStation in 2016 after holding similar roles with other online brokerages. Don’s long career in the financial services industry reflects expertise in administering trading and investment strategy programs for retail investors as well as financial services professionals. Since the 1980s, he has held various positions in areas including CBOE trading floor order execution, marketing, sales, personnel management, training and customer service. Don holds series 3, 4, 7 and 63 FINRA licenses, earned his Ph.D. in Organization and Management, and his M.A. and B.A. in Political Science. He has been an occasional adjunct college instructor since 2004 at a range of institutions, teaching undergraduate, graduate and doctoral students using in-class and online formats.