Stock Market Daily ·
Salesforce's 22% surge leads software rally after Anthropic deal
Tech stocks rallied Thursday as Salesforce jumped 22% on strong earnings and an expanded Anthropic partnership, while CrowdStrike and Okta surged on AI-driven cybersecurity demand. Hormel raised its adjusted EPS outlook after a solid quarter, and Intuit beat revenue estimates but guided below expectations.
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Salesforce jumps 22% for second-best day ever on AI partnership The software giant beat Q2 estimates and expanded its partnership with Anthropic, unveiling "Claudeforce" to bring Salesforce data into Claude. The news lifted software peers including Adobe, Palantir, ServiceNow and Autodesk, with the iShares Expanded Tech-Software ETF up about 5%. 1
CrowdStrike and Okta surge on AI-driven cybersecurity demand CrowdStrike gained 20% for its best day ever and Okta jumped nearly 29% after both beat estimates and raised guidance, citing the AI agent threat. Palo Alto Networks, SailPoint, Zscaler and Rubrik each rose at least 10%. 2
Hormel raises adjusted EPS outlook after solid third quarter The food company reported Q3 adjusted EPS of $0.37 on net sales of $2.96 billion, with organic net sales down 2%. Management raised and narrowed its full-year adjusted EPS outlook, citing strong year-to-date performance. 3
Intuit beats revenue estimates but issues soft guidance Intuit reported Q2 revenue of $4.35 billion, up 13.7% year over year and above estimates, with adjusted EPS of $4.03 beating by 12.3%. However, next-quarter revenue guidance of $4.31 billion came in below consensus, and FY2027 EPS guidance missed by 15.7%. 4
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