Salesforce is paying top dollar for growth — and not just in the cloud

Salesforce is paying top dollar for growth — and not just in the cloud

Marc Benioff, co-CEO of Salesforce, center left, and Angela Ahrendts, then CEO of Burberry Group, center right, take part in ringing the closing bell for the New York Stock Exchange during the DreamForce conference in San Francisco on Aug. 31, 2011. David Paul Morris | Bloomberg | Getty Images When Salesforce was first seeking public attention almost two decades ago, it created a mascot that consisted of the word “software” in bold letters on a…

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Salesforce’s Marc Benioff defends Tableau deal: They ‘didn’t want our cash’

Salesforce’s Marc Benioff defends Tableau deal: They ‘didn’t want our cash’

Salesforce CEO Marc Benioff defended his company’s largest acquisition to date in a Monday appearance on CNBC’s “Mad Money.” The stock plummeted as much as 8% during the session before paring losses and closing down 5.26%. Salesforce announced Monday it would purchase data visualization firm Tableau for $15.3 billion in stock. “Tableau didn’t want our cash — they wanted our equity, because they know that the real value here is in the company that we’re…

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Cramer: Beware of froth — ‘it may be too late to put new money to work’

Cramer: Beware of froth — ‘it may be too late to put new money to work’

CNBC’s Jim Cramer said Monday it’s a tough time to put new money into stocks, even as the market posts gains. The Dow Jones Industrial Average added more than 78 points Monday, the S&P 500 expanded 0.47% and the Nasdaq Composite moved up 1.05%. Cramer said investors should beware of froth, when red-hot stocks skyrocket higher for no apparent reason. “We still have enough moorings that I don’t want to declare this market out of…

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Shutterfly strikes take-private deal with Apollo Global, valuing company at $2.7 billion

Shutterfly strikes take-private deal with Apollo Global, valuing company at $2.7 billion

Shutterfly office in Santa Clara, California. Karen Desjardin | Getty Images Digital imaging company Shutterfly Inc announced on Monday that it’s agreed to be acquired by private equity firm Apollo Global Management, a deal valued at $2.7 billion.  Apollo Funds will acquire all the outstanding shares of Shutterfly for $51 per share in cash, according to the company announcement. Shutterfly ended the trading day up 2.7%, and was halted in after hours trading due to…

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Apple’s iTunes is dying, but don’t worry — your music and iTunes gift cards will live on

Apple’s iTunes is dying, but don’t worry — your music and iTunes gift cards will live on

Apple Music will replace iTunes in macOS Catalina this fall. Apple When Apple launches its new Mac software, macOS Catalina, this fall, you’re going to see a lot of changes to iTunes. The app as you know it — regular ol’ iTunes — is being replaced by three apps, including Apple Music, Apple TV and Podcasts. If you have a ton of ripped music, playlists and a highly organized library, you might have worried about…

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Slack sees slowing revenue growth ahead

Slack sees slowing revenue growth ahead

Stewart Butterfield, co-founder of Slack and Flickr Mark Neuling | CNBC Team chat app company Slack on Monday provided guidance on its business for the current quarter, showing it expects slowing revenue growth as it prepares to go public later this month. Slack said in a statement that for the second quarter of its 2020 fiscal year, which ends on July 31, it expects revenue of $139 million to $141 million. That would be growth…

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4 hurdles ‘Avengers: Endgame’ faces as it seeks to dethrone ‘Avatar’

4 hurdles ‘Avengers: Endgame’ faces as it seeks to dethrone ‘Avatar’

An Avengers fan holds tickets at the TCL Chinese Theatre in Hollywood to attend the opening screening of “Avengers: Endgame” in Los Angeles, California, U.S., April 25, 2019. Mike Blake | Reuters After its blockbuster start, some had expected “Avengers: Endgame” would go on to easily dethrone “Avatar” as the highest-grossing film of all time. But in the weeks that followed its record-setting debut, it appears unlikely — at least in its first run.  “Endgame”…

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Gold is setting up for a breakout years in the making, technical analyst says

Gold is setting up for a breakout years in the making, technical analyst says

Trade war uncertainties and expectations of a Federal Reserve rate cut has sent gold soaring this month. The precious metal is up more than 3 percent since the start of June, hitting its highest level in more than a year on Friday. According to Carter Worth of Cornerstone Macro, the charts are setting up for a breakout years in the making. “Gold has been toying with the prospects of a breakout repeatedly for the past…

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The search deal between Google and Apple took four months working ‘every single day’

The search deal between Google and Apple took four months working ‘every single day’

Tim Cook participates in a panel discussion during the TIME 100 Summit 2019 on April 23, 2019 in New York City. Brian Ach | Getty Images Google pays Apple billions of dollars to be the default search engine in the Safari browser on iPhones and Mac computers. A deal like that doesn’t come together overnight, and a new interview with Apple’s former general counsel Bruce Sewell reveals just how involved the most senior levels of…

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Stocks making the biggest moves midday: Beyond Meat, GameStop, Tableau, Raytheon & more

Stocks making the biggest moves midday: Beyond Meat, GameStop, Tableau, Raytheon & more

Beyond Meat CEO Ethan Brown speaks before ringing the opening bell at Nasdaq MarketSite, May 2, 2019 in New York City. Drew Angerer | Getty Images Check out the companies making headlines in midday trading Monday: Beyond Meat— Shares of Beyond Meat popped more than 23%, on pace for its third best day ever. Earlier the stock hit $186.43 per share, an all-time high. The maker of plant-based meat substitutes has surged nearly 600% from…

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