Salesforce Deflates After Announcement Hype

Salesforce.com(CRM Quote) shareholders took profit Thursday after the stock's previous-day's boost on speculation of a far-reaching deal with Google(GOOG Quote).

Shares were trading down $1.35, or 2.8%, to $47.37 late afternoon. On Wednesday, the company closed up 6.1% to $48.72 after Salesforce sent to analysts and media an invitation to a June 5 announcement with an unnamed partner.

"I think they have been leaking to the market that it's going to be something with Google," said Cowen & Co. senior analyst Peter Goldmacher. He added that the announcement may prove disappointing after "all the hype built up around it." ...