ServiceNow Inc

NYSE:NOWUnited States

Yesterday

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• DJ Salesforce Darkens the Skies for Cloud Software as AI Threat Looms -- Heard on the Street -- Update, from 19 hours ago by Dow Jones

  19 hours ago by Dow Jones
  Companies Mentioned: MSFT, ADBE, NOW, WDAY, SNOW, CRM, TEAM
  
  By Dan Gallagher
  
  Turns out, a more profitable Salesforce isn't that exciting when growth is grinding to a halt. Especially when investors have a culprit like artificial intelligence to blame.
  

• DJ Salesforce Selloff is One for the Books -- WSJ, from 11:16AM ET on Thursday May 30, 2024 by Dow Jones

  11:16AM ET on Thursday May 30, 2024 by Dow Jones
  Companies Mentioned: ADBE, NOW, WDAY, CRM
  By Dan Gallagher It hasn't been a great earnings season for cloud software companies, and even the leader is not getting a break. Especially the leader, in fact. Salesforce is the largest pure-play provider of cloud-based enterprise software, both by revenue and market capitalization. But the latter took a major hit Thursday following the companys disappointing report for its fiscal first quarter. The stock sank more than 20% Thursday morning. Its fallen more than 20% in a single day only one time before: in July of 2004, about a month after the company went public. Salesforce was added to the Dow in 2020, so the Blue Chip index also paid a heavy price, falling 1% Thursday morning. But the latest results were seen as a particularly bad sign for other cloud software vendors, many which have also had a rough earnings season. The BVP Nasdaq Emerging Cloud Index fell 2.7% Thursday morning, reflecting major drops at cloud players such as ServiceNow, Adobe and Workday. ServiceNow had been one of the best performers of the group, with its stock up 36% over the last 12 months. It fell nearly 10% Thursday morning. Like some of its peers, Salesforce blamed the weak results on factors such as elongated deal cycles and high levels of budget scrutiny. But as Heard on the Street notes in a column today, some analysts are starting to wonder if a growing level of generative AI investments across the landscape are crowding out spending in other areas of technology. In a report Thursday , Morgan Stanley analysts cited a recent CIO survey predicting that 12% of public cloud spending will be attributable to AI in three years, compared to about 5% now. Salesforce and other cloud software vendors will be scrambling to make sure they are not left out in the cold. This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). (END) Dow Jones Newswires May 30, 2024 11:16 ET (15:16 GMT)

• DJ Salesforce Darkens the Skies for Cloud Software as AI Threat Looms -- Heard on the Street -- WSJ, from 10:35AM ET on Thursday May 30, 2024 by Dow Jones

  10:35AM ET on Thursday May 30, 2024 by Dow Jones
  Companies Mentioned: MSFT, ADBE, NOW, WDAY, SNOW, CRM, TEAM
  
  By Dan Gallagher
  
  Turns out, a more profitable Salesforce isn't that exciting when growth is grinding to a halt. Especially when investors have a culprit like artificial intelligence to blame.
  

• DJ ServiceNow Down Nearly 9%, on Pace for Largest Percent Decrease Since July 2022 -- Data Talk, from 10:03AM ET on Thursday May 30, 2024 by Dow Jones

  10:03AM ET on Thursday May 30, 2024 by Dow Jones
  Companies Mentioned: NOW
  
  ServiceNow, Inc. (NOW) is currently at $666.16, down $64.96 or 8.88%
  
  --Would be lowest close since Nov. 28, 2023, when it closed at $665.24
  
  --On pace for largest percent decrease since July 12, 2022, when it fell 12.74%