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Tech stocks were trading lower on Thursday, with the Nasdaq shedding 4 points to 2385 as a surge in crude oil prices and a weakening dollar dampened the mood on Wall Street.
Salesforce.com(CRM Quote) plummeted 17% to $53.91 a day after providing quarterly guidance below analysts' expectations.
The San Francisco-based software company signaled a potential slowdown in bookings growth and a rise in marketing expenses. Although Salesforce doesn't disclose bookings data, its deferred revenue grew at 49% year over year during the second quarter and only 2% consecutively, indicating a drop-off in new bookings. ...
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