Salesforce.com (NYSE: CRM) has been a high-beta stock with a 100+ P/E ratio and it can be very volatile around earnings. The customer relationship software outfit reported that its third quarter earnings and guidance were slightly under some estimates. Another issue was that the company actually had a net loss after higher sales and marketing costs. Shares were down over 7% last night, and shares are down “only” 4.8% around $120.00 on almost 200,000 pre-market shares with about 30 minutes until the open.
Salesforce.com… When Beta Catches Up To Earnings (CRM)
By
Jon C. Ogg
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About the Author
Jon C. Ogg →
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
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