At The Motley Fool, we know our readers like to be informed. Here's a quick look at today's most relevant financial news, boiled down to what you need to know.
salesforce.com's client billings miss the mark
Shares of software maker salesforce.com (NYS: CRM) fell sharply in afterhours trading yesterday after the company reported client billings were below the volume forecasted by analysts. salesforce.com reported a third-quarter loss of $3.76 million, or $0.03 per share, while analysts' average estimate was revenue of $571.4 million, or $0.31 per share, for the quarter. Excluding certain extraordinary items, though, EPS came in at $0.34. Read the full story at Bloomberg.
No gap in profits for this retailer
Apparel chain Gap (NYS: GPS) beat analysts' estimates for the third quarter, posting earnings of $0.38 per share. The company could continue this rebound into next year, as lower cotton prices and management changes are predicted for 2012. Read the full story at CBS MoneyWatch.
Intuit reports quarterly loss
Maker of Turbo Tax and Quicken software Intuit (NAS: INTU) posted a lower net loss for its first quarter, compared to the same period a year earlier. Excluding one-time items, the company lost $0.10 a share in the quarter, while analysts had anticipated a loss of $0.12 per share, according to FactSet. Read the full story at Bloomberg.
Media conglomerate Liberty Media (NAS: LCAPA) is combining its two tracking stocks, Liberty Starz and Liberty Capital, into a single stock. According to Liberty CEO Greg Maffei, the move will increase the value of the shares and help the company fund future acquisitions. Read the full story at Bloomberg.
That's a wrap
So there you have it -- the top financial stories for this morning. If you are interested in getting all the news and commentary on these stocks, sign up to My Watchlist here -- it's free!
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At the time thisarticle was published
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