markets

Hyunsoo Rim10/16/25

Salesforce rises after forecasting revenue north of $60 billion by 2030, with double-digit sales growth expected to return

Salesforce rose as much as 6% in early trading Thursday after issuing an upbeat revenue target and projecting a return to “double-digit growth” within the next 12 to 18 months.

At an investor event Wednesday, the software maker said it expects annual revenue to top $60 billion by fiscal 2030, ahead of Wall Street’s $58.37 billion estimate, per CNBC. The forecast excludes any impact from Salesforce’s pending $8 billion acquisition of data management firm Informatica, slated to close by mid-2026.

The new outlook comes less than six weeks since Salesforce issued underwhelming Q3 revenue guidance, extending a slowdown to single-digit sales growth since mid-2024 — as the company has yet to translate the AI hype into cold, hard cash. Chief Financial and Operating Officer Robin Washington acknowledged the company’s had “some lower-stage growth for a while,” but said it’s now “reaccelerating.”

Salesforce’s biggest bet is Agentforce, the AI assistant launched a year ago that CEO Marc Benioff calls “the core of every product we make now.” Still, AI is likely to make up just ~3% of the company’s FY 2026 revenue, with concerns emerging that new AI tools could replace legacy software providers like Salesforce — a notion that Benioff called “nonsense.”

Earlier this week, Salesforce rolled out Agentforce Voice, which allows AI agents handle customer calls, and expanded partnerships with Anthropic and OpenAI to integrate their latest models into its platform.

Despite the premarket bump, shares remain down 26% year to date and 32% below their December 2024 peak.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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