Join InvestingPro for just 60 cents a day!The holiday-shortened week ahead - which will see U.S. stock markets closed on Monday for the Memorial Day holiday - is expected to be another busy one as investors continue to assess how much juice is left in the AI-inspired rally on Wall Street and when the Fed may decide to cut interest rates.
Regardless of which direction the market goes, below I highlight one stock likely to be in demand and another which could see fresh downside. Remember though, my timeframe isI expect a strong performance from Salesforce this week as the enterprise software giant’s latest earnings and outlook will easily top estimates thanks to broad strength in its cloud business and recent AI initiatives.
Market participants expect a sizable swing in CRM shares after the report drops, with a possible implied move of 7.6% in either direction as per the options market. The stock rose 3.1% after its last earnings report in late February.Salesforce is seen earning $2.37 a share, jumping 40.2% from the year-ago period due to the positive impact of ongoing cost-cutting measures.
But as is usually the case, investors will key in on Salesforce’s outlook for the current quarter and beyond. As such, I believe the company will strike an upbeat tone as it remains well positioned to thrive amid the current environment.
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