Here Are 3 Hot Things to Know About Stocks Right Now

  • The S&P 500 undefined   and lNasdaq I:IXIC   ended lower for the first time in five sessions, ending a string of record closes. 
  • The Dow Jones Industrial Average  I:DJI also fell, ending its four-day winning streak.
  • Inc. (CRM) - Get, inc. Report   slid 1.7% on Thursday after issuing soft guidance for its fiscal third quarter.

Wall Street Overview

Stocks closed lower on Thursday, Aug. 30, as reports emerged that President Trump wants to go ahead with tariffs on $200 billion in imports from China next week.

Public comment on the proposed tariffs is set to end Wednesday, and Trump is anxious to implement them as soon as possible, Bloomberg reoprted, citing unnamed sources.

With Canada back at the negotiating table this week ahead of a deadline of Friday, Aug. 31, set by Trump to reach an agreement that would overhaul the current arrangement with the three North American economies, investors have grown concerned that trade talks with China have moved further down on Trump's agenda.

The Dow Jones Industrial Average I:DJI   fell 138 points, or 0.5%, to 25,987 and the S&P 500 undefined  fell 0.4%. The Nasdaq I:IXIC   fell 0.26% after earlier setting an intraday record high. 

Shares of Inc. (AMZN) - Get, Inc. Report closed above $2,000 for the first time ever on Thursday gaining $4.12 to end at $2,002.22.

Amazon is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells the stock? Learn more now. Inc. (CRM) - Get, inc. Report fell 1.3% on Thursday after second-quarter earnings beat analysts' forecasts but the customer-relationship management software company issued soft guidance for the third quarter.

Salesforce said it expects fiscal third-quarter revenue of around $3.36 billion but noted that ongoing increases in marketing and research and development costs would likely bring its bottom line in at a range of 49 cents to 50 cents a share, below Wall Street forecasts of around 54 cents.

Earnings in the second quarter were 71 cents a share on revenue of $3.28 billion, higher than forecasts that called for earnings of 47 cents a share on revenue of $3.23 billion. After backing out a 14-cent gain related to the accounting of "strategic investments," the earnings beat in the second quarter was 10 cents.

"This was a good quarter from Salesforce and they are still the leaders in customer relationship management, the largest and fastest growing category (that CRM is growing twice the rate of) in enterprise software according to (co-CEO Keith) Block," said Jim Cramer and the Action Alerts PLUS team, which holds Salesforce in its portfolio. "Yes, the adjusted earnings per share guidance was light compared analyst expectations, but Salesforce's operations remain fundamentally sound and the company is now working off two straight quarters of large bottom line beats."

TheStreet Recommends

Watch what TheStreet's Executive Editor @BrianSozzi thinks of Salesforce right now. 

Campbell Soup Co. (CPB) - Get Campbell Soup Company Report said Thursday it was selling its two international units and its fresh foods business, a move that stemmed from a three-month board strategic review on what direction the soup maker would take. The much-anticipated announcement was made as Third Point's Dan Loeb and a descendant of the company's one-time president and owner wanted to see Campbell Soup sell itself.

Campbell Soup also reported fiscal fourth-quarter earnings of 25 cents a share, 1 cent ahead of analysts' estimates. Revenue was $2.2 billion vs. estimates of $2.24 billion. The stock fell 2%.

Hale Stewart of TheStreet's sister publication, Real Money, recently called Campbell a 'classic contrarian play' in Income Seeker, our premium Web site for income investors. Click here for his full analysis.

Dollar General Corp. (DG) - Get Dollar General Corporation Report reported second-quarter profit of $1.52 a share, 3 cents ahead of estimates, and same-store sales rose 3.7%. The retailer said it expects fiscal-year sales to rise 9% to 9.3%. The stock traded down 1%.

Dollar Tree Inc. (DLTR) - Get Dollar Tree, Inc. Report fell 15.6% after second-quarter earnings came in just shy of estimates and the company lowered the top end of its full-year earnings guidance.

Ciena Corp. (CIEN) - Get Ciena Corporation Report posted third-quarter adjusted earnings of 48 cents a share, beating estimates by 12 cents. The stock rose 12.5%.

Abercrombie & Fitch Co. (ANF) - Get Abercrombie & Fitch Co. Class A Report earned an adjusted 6 cents a share in its second quarter vs. an estimated loss of 4 cents. Sales of $842.4 million in the quarter came in below forecasts of $845.1 million. Shares fell 17%.

Abercrombie's CEO Fran Horowitz talked with Sozzi Thursday about the upcoming holiday shopping season.