SalesForce [CRM] - Last Close: $215.04
SalesForce is up after a strong quarterly report.
The cloud conglomerate reported its fiscal Q2 earnings report late Wednesday, and the results surpassed expectations.
SalesForce reported fiscal Q2 adjusted EPS of $2.12, up from $1.19 a year earlier, and easily beat the consensus of $1.88.
Revenue for the quarter came in at $8.6 billion, up 11.3% from last year, and beat the consensus of $8.53 billion.
SalesForce also boosted its full-year outlook in response to the strong quarter.
CRM is leading the S&P 500 with a 5.8% gain.
My Take: It looks like CRM is back, but I have never been a big fan of this stock. Even now, it P/E is a whopping 566.25. I think there are much better large-caps to consider than this one.
iCoreConnect [ICCT] - Last Close: $12.28
iCoreConnect continues to run hot after its SPAC merger.
Earlier this week, the cloud company completed its merger with FG Merger Corp SPAC, and shares have been climbing ever since.
Yesterday, trading in ICCT was halted several time due to an issue with the conversion of its shares, but the issue has since been resolved.
ICCT gained 117.7% on Thursday, and it continued to run hot after the close.
It's up another 28.0% in today's premarket.,
My Take: This is a big SPAC rally for such an obscure company. I wouldn't be surprised if ICCT pulled back on Monday.
Acer Therapeutics [ACER] - Last Close: $0.61
Acer Therapeutics just landed a big buyout deal.
The micro-cap pharma firm has agreed to be acquired by Zevra Therapeutics [ZVRA] in a cash-and-stock deal worth up to $91 million.
Acer shareholders will initially receive 0.121 shares of ZVRA, and contingent value rights that could add up to $76 million in additional payouts.
The deal is expected to close in the fourth quarter.
ACER is the number one stock in today's premarket with an 88.4% gain.
My Take: ACER shareholders are enjoying a nice pop over this deal, but I don't see a reason to make a move this late in the game.
SatixFly [SATX] - Last Close: $0.478
SatixFly is trending after announcing a strategic sale.
The space services provider has agreed to sell its digital payload division to MDA Ltd. [TSX: MDA] in exchange for a US$40 million share purchase.
The companies announced the new definitive agreement early this morning.
SatixFly said it made the sale because it has decided to strategically focus its space business on being a tech provider to satellite payload design companies.
SATX is one of this morning's top performers with a 50.8% gain.
My Take: I have had my eye on SATX. It could be a promising speculative play on the space sector. The company appears to be zeroing in on the most profitable part of their business, which could be a very good sign.
