U.S. stocks were in positive territory Wednesday morning, with investors awaiting Federal Reserve Chairman Jerome Powell's speech. The Dow Jones Industrial Average rose more than 150 points to 24,912, the S&P 500 index gained 0.43% to 2,694, and the Nasdaq Composite Index jumped 0.60% to 7,125.
Shares of Salesforce.com Inc. (CRM, Financial) jumped almost 9% on Wednesday, after the company posted third-quarter earnings of 61 cents, on revenue of $3.39 billion, reflecting 25.6% year-over-year growth. The company beat earnings estimates by 11 cents and revenue expectations by $20 million.
Subscription and support revenues reached $3.17 billion, an increase of 26% year-over-year. Professional services and other revenues were $224 million, an increase of 15% year-over-year.
"I'm thrilled that Salesforce will be the fastest enterprise software company in history to reach $16 billion in revenue," said Marc Benioff, chairman and co-CEO.
Looking ahead fiscal 2019, the company expects revenues to be between $3.55 and $3.56 billion, and earnings per diluted share between 8 and 9 cents.
Gainers
• Advanced Micro Devices Inc. (AMD, Financial)
• Ross Stores Inc. (ROST, Financial)
• Celgene Corp. (CELG, Financial)
• Hologic Inc. (HOLX, Financial)
Losers
• Hasbro Inc. (HAS, Financial)
• ANSYS Inc. (ANSS, Financial)
• Synopsys Inc. (SNPS, Financial)
• Ulta Beauty Inc. (ULTA, Financial)
• Intuitive Surgical Inc. (ISRG, Financial)
Global markets
The main European stock markets traded higher. The U.K.'s FTSE 100 gained 0.09%, France's CAC 40 advanced 0.47%, Germany's Dax inched up 0.22% and Spain's Ibex 35 was up 0.58%.
In Asia, Japan's Nikkei 225 gained 1.02%, India’s BSE Sensex jumped 0.57%, Hong Kong's Hang Seng advanced 1.33% and China's Shanghai Composite rose 1.05%.
Disclosure: The author holds no positions in any stocks mentioned.
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