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Tag Archives: salesforce

Dow Futures Slightly Up after closing at New 2023 High, Treasury Yields Remain Flat

Stock futures are mixed after the Dow Jones Industrial Average closed its best month in more than a year. The Dow Jones Industrial Average surged to a new high for the year on Thursday. This marked a stellar month-end performance amidst signs of reduced inflation and robust earnings reports. Climbing by 520 points, or 1.47%, the Dow closed at 35,950.89, surpassing its previous peak set in August. Similarly, the S&P 500 added 0.4% to hit 4,567.80, while the Nasdaq Composite dipped...

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US Stocks Stumble as Consumer Confidence Dips and Bond Yields Rise

Concerns about higher interest rates can lead to reduced borrowing, higher financing costs, and a potential slowdown in economic activity. On Tuesday, September 27, the US stocks experienced a significant dip as bond yields inched up and consumer confidence declined for the second consecutive month in September. The Nasdaq Composite (INDEXNASDAQ: .IXIC), S&P 500 Index (INDEXSP: .INX), and Dow Jones Industrial Average (INDEXDJX: .DJI) all faced declines, with the latter plummeting...

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Salesforce to Hire 3300 Workers After Initial Employee Layoffs

According to CEO, the company needs to employ “thousands” of people to maintain its growth potential and margins. Cloud-based software firm, Salesforce, is planning to boost its employee numbers by hiring 3,300 specialists. Chief Executive Marc Benioff revealed this while speaking to Bloomberg at the company’s annual Dreamforce conference. The announcement follows the company’s decision to lay off 10% of its employees in January. Amid an effort to increase profits, Salesforce cut about...

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Typeface Valued at $1B Following $100M Series B Funding from Salesforce, Microsoft, Google

The funding round conducted only a few months after its public launch puts Typeface in fierce competition with similar tools. Typeface, a generative artificial intelligence (AI) content creation platform for enterprises, announced it has concluded a Series B funding round. Typeface received $100 million in funding from a round led by Salesforce Ventures, the arm of Salesforce Inc (NYSE: CRM) that provides funding, support, and mentorship to startups. The round brings Typeface’s total...

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Singapore Ride-Hailing Giant Grab Plans First Massive Layoffs since Pandemic

Despite expressing positive revenue projections for 2023 and accelerating its profitability timeline in February, Grab is now planning a fresh round of layoffs. Grab Holdings, a Singapore-based ride-hailing and food delivery company, is gearing up for its largest round of layoffs since the pandemic, according to a report by Bloomberg on Tuesday. Sources familiar with the matter stated that the company would officially announce the planned job cuts this week, which is expected to surpass...

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Bitcoin Currently Outperforms 97% of S&P 500 Companies and Gold in 2023, Analyst Expects Crypto Supercycle 

Mike McGlone anticipates a Bitcoin Supercycle due to the asset’s raving performance despite economic circumstances. Commodity strategist Mike McGlone believes that a Bitcoin (BTC) Supercycle is on the horizon amid the leading crypto’s 2023 price upswing. According to the Bloomberg Intelligence senior commodity strategist, BTC’s recent performance compared to gold proves his claim. The prominent digital currency has outperformed gold almost tenfold this year and appears set to continue...

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Dow Jones Relinquishes Some Big Gains Ahead of Pivotal US Jobs Report

The Dow Jones closed approximately 200 points lower in anticipation of Friday’s critical jobs report. The Dow Jones Industrial Average (DJIA) dipped 194.76 points, or 0.56%, to close at 34,395.01 on Thursday ahead of today’s critical jobs report. This nearly 200-point fall was not the only setback recorded among the major indexes yesterday. The S&P 500 also closed lower by 0.09% to 4,076.57 during Thursday’s session. However, the tech-laden Nasdaq Composite gained 0.13% to close at...

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Salesforce (CRM) Stock Drops, Company Buys Vlocity for $1.33B and Its Co-CEO Steps Down

Salesforce has acquired Vlocity, a provider of industry-specific cloud and mobile software built natively on the Salesforce platform, for approximately $1.33 billion. But Salesforce (CRM) stock is in red.An American cloud-based software company Salesforce.com Inc. (NYSE: CRM) announced it bought Vlocity for $1.33 billion – all cash.This interesting acquisition, however, didn’t come as such a surprise. Vlocity is a company that makes six industry-specific CRMs on top of Salesforce. Those are...

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