Dow Jones Finishes in the Red Despite Strong Earnings From Salesforce
The Dow Jones Industrial Average (DJINDICES: ^DJI) slipped about 177 points today, despite a better-than-expected earnings report from Salesforce (NYSE: CRM) that pushed the stock nearly 10% higher, which was by far the biggest move of any of the Dow's 30 stocks.
Contributing to the losses in the Dow were financials and consumer goods stocks, which struggled following a warning from JPMorgan Chase's esteemed CEO Jamie Dimon. The bank leader warned investors to prepare for what he described as an economic "hurricane."
For the first quarter of fiscal 2023, which ended on April 30, Salesforce reported diluted earnings per share of $0.03 and adjusted earnings per share of $0.98. Total revenue came in at $7.41 billion. Both adjusted earnings and revenue beat analyst estimates during a quarter with difficult economic conditions, sending shares higher.
Source Fool.com
