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HomeMarketSalesforce, Snowflake, Okta, and More Stock Market Movers

Salesforce, Snowflake, Okta, and More Stock Market Movers

Salesforce issued a fourth-quarter revenue forecast that missed analysts’ forecasts.

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Stock futures fell slightly Thursday after Wall Street rallied sharply following comments from Federal Reserve Chairman Jerome Powell that the central bank was likely to slow down the pace of interest-rate hikes.

Here are some stocks making moves Thursday.

Salesforce
(ticker: CRM) issued a fourth-quarter revenue forecast that missed analysts’ forecasts and the cloud software company also announced that co-CEO Bret Taylor was stepping down on Jan. 31. The stock was falling 6.5% in premarket trading.

Snowflake
(SNOW) fell 5.7% after the company said it expects fiscal fourth-quarter product revenue to be between $535 million and $540 million, below Wall Street estimates of $553 million.

Okta (OKTA) raised its revenue forecast for fiscal 2023 and said it was boosting its profitability outlook by “approximately $66 million at the high end.” On the company’s conference call, Chief Financial Officer Brett Tighe said
Okta
expects a non-GAAP operating loss of $39 million to $41 million. The stock was surging 14.4%.

Splunk
(SPLK) jumped 9.2% after raising its full-year outlook for profit, sales and cash flow. The data software company said it expects full-year sales of between $3.455 billion and $3.485 billion, up from a prior forecast for between $3.35 billion and $3.4 billion.
Splunk
said it expects free cash flow of at least $420 million, up from previous guidance of $400 million.

Nutanix
(NTNX) was rising 3.2% after fiscal first-quarter earnings and revenue at the cloud-computing company topped analysts’ forecasts. In addition, Bloomberg, citing people familiar with the matter, reported that
Hewlett Packard Enterprise
(HPE) has expressed takeover interest in
Nutanix.
The Wall Street Journal had reported in October that Nutanix was exploring a sale.

Write to Joe Woelfel at joseph.woelfel@barrons.com

Credit: marketwatch.com

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