The Dow was down nearly 400 points on Thursday even though bond yields pulled back. Only eight of the Dow’s 30 stocks were trading lower, but declines for Salesforce and Microsoft were too much to overcome. The Dow was down 387 points, or 1%, compared to the S&P 500’s 0.5% decline.
Salesforce reported Q1 earnings that topped estimates while revenue missed. July quarter revenue guidance came in well below expectations. Shares tumbled.
Salesforce issues a weak outlook and the stock slumps, UiPath’s revenue outlook comes in well below analysts’ estimates, and Kohl’s posts a surprise first-quarter loss.