Diamonds and Dogs
Salesforce (CRM) had a monster quarter. The cloud computing software company stock jumped 12% thanks to better than expected earnings as revenue rose 14.4% to $8.38 billion. Salesforce also provided upside guidance as the company focuses on getting to higher levels of profitability. Management wants to be the most profitable software company in the world.
Silvergate Capital (SI) plunges 50% on concerns of default. The crypto bank will delay its annual report The bank says it needs additional time to perform analysis for record journal entries and internal controls over financial reporting. There are growing concerns the bank will go under due to entanglements with several crypto firms including bankrupt exchange FTX.
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