Salesforce.com, inc. (CRM) and GameStop Corp. (GME) Moving High with the Increasing Demand Of Microsoft Corporation (MSFT) and Sony Corp (ADR) (SNE)

Tech Stocks ended the week with mild gains, primarily led by Salesforce.com, inc. (NYSE:CRM) and the videogame company, GameStop Corp. (NYSE:GME). Both the companies received excellent response from the investors after beating their second quarter expectations. Other primary companies contributing towards the upward industry momentum include Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOGL), and Yahoo! Inc. (NASDAQ:YHOO).

Salesforce.com, inc. (NYSE:CRM) picked up 7.34% and closed at $59.80 on Friday. The primary reason behind stock gains was its tremendous second quarter 2014 financial result. Salesforce.com, inc. (NYSE:CRM) reported revenue of $1.32 billion with a 38 percent YOY growth and an operating cash flow of $246 million.

Microsoft (MSFT)

GameStop Corp. (NYSE:GME) ended the market with an increase of 5.95% in its share price and the share closed at $42.90. The videogame company reported second quarter 2014 results on August 21, 2014 with net global sales of $1.73 billion and diluted earnings per share standing at $0.22 per share. One of the primary reasons behind the success of this quarter goes to the high demand of Microsoft Corporation’s (NASDAQ:MSFT) Xbox One and PlayStation 4 from Sony Corp (ADR) (NYSE:SNE).

Microsoft Corporation (NASDAQ:MSFT) reported revenue of $23.38 billion for June 30,2014 quarter with diluted earnings per share of $0.55. The company had an operating income of $6.48 billion for the quarter. Microsoft Corporation (NASDAQ:MSFT) partnered with Salesforce.com, inc. (NYSE:CRM) for better cloud software business growth. However, the company reported an increase in the production and marketing cost of its popular Xbox One.

Sony Corp (ADR) (NYSE:SNE) also ended the week with 0.16% increase in its share price. GameStop Corp. (NYSE:GME) claimed the increase in demand of PlayStation 4 from Sony Corp (ADR) (NYSE:SNE) as one of the primary reasons behind its better second quarter 2014 results. Sony Corp (ADR) (NYSE:SNE) reported EPS of $0.23 for the quarter ending on June 30,2014 with PlayStation 4 being a major reason for global increase in demand. The company sold 3.5 million PlayStations combining both PS3 and PS4.

This article has been written by Prakash Pandey.

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