On this episode of Stock Movers:
- Salesforce (CRM) sales have declined after projected quarterly sales growth that was lackluster, suggesting its artificial intelligence product isn’t yet paying off as quickly as hoped. The company's shares fell before markets opened in New York, as investors have been anxious that incumbent software makers will be outshined by new AI-based vendors.
- Hewlett Packard (HPE) shares are higher after it gave a profit outlook for the current quarter that was in line with expectations, with earnings excluding some items expected to be 87 cents to 97 cents a share. HPE has adjusted to use manufacturing facilities outside of China for almost all of its products sold in North America to cope with the effects of tariffs, and the company has increased some prices.
- American Eagle (AEO) shares are higher after the clothing retailer reported better-than-expected 2Q revenue, boosted by demand following its Sydney Sweeney ad campaign. It also gave comparable sales guidance for fiscal 2025.
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