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Salesforce reported second-quarter earnings that beat analysts’ estimates.
Victor J. Blue/Bloomberg
Stock futures traded mostly higher as recent economic data have spurred hopes the Federal Reserve is nearing the end of its rates-hiking cycle. Investors will be awaiting the release Thursday of the central bank’s preferred inflation gauge, the Personal Consumption Expenditures Index.
These stocks were poised to make moves Thursday:
Salesforce
(CRM), the cloud-based enterprise software provider, reported second-quarter earnings that beat analysts’ estimates and issued an outlook for the third quarter and fiscal year that also topped forecasts.
Salesforce
said it expects fiscal-year adjusted earnings of $8.04 to $8.06 a share on revenue of $34.7 billion to $34.8 billion. Analysts had been predicting profit of $7.42 a share on revenue of $34.7 billion. The stock rose 5.5% in premarket trading.
Okta
(OKTA) shares rose 11% after the identity-management software company reported better-than-expected adjusted earnings and revenue in the second quarter and said it saw signs of stabilization in spending on information technology.
Okta
raised its fiscal-year forecast, saying it expects adjusted profit of $1.17 to $1.20 a share on revenue of $2.21 billion to $2.22 billion Analysts had expected earnings of 91 cents a share on revenue of $2.18 billion.
UBS Group
(UBS) gained 4.2% after the Swiss bank reported a second-quarter…
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