Business

This week in tech stock: Salesforce soars with acquisition

Image Credit: Sean Ludwig

As Salesforce finally closed its acquisition of online marketing company ExactTarget, itself a publicly traded company, its stock price jumped 9 percent this week.

“The addition of ExactTarget makes Salesforce the starting place for every company and puts salesforce.com in the pole position to capture this opportunity,” said Salesforce CEO Marc Benioff today in a statement.

Pointing out how quickly tech is becoming in the world of marketing, he continued, ““The CMO is expected to spend more on technology than the CIO by 2017.”

Other winners this week included Microsoft, which saw a 4.3 percent lift as news broke that the company was planning a massive corporate reorganization.

“Together, the leadership team looked at how we could renew and reorient Microsoft for this new time,” said CEO Steve Ballmer in a memo.

“In the end, we realized our strengths are in high-value activities, powering devices and enterprise services.”

Amazon rose around 7 percent, with announcements of Web Services price cuts and rumors of a possible Kindle line refresh.

Finally, Zynga continued its upward crawl from last week, when the company announced Xbox chief Don Mattrick would become Zynga’s new CEO.

Here’s a look at percentage changes for the week:

CRM Chart

And then, there were the losers. Let’s all gang up on them in gym when it’s time for dodgeball.

Angie’s List was just sad, dropping 11 percent. IBM and Intel saw smaller losses. Here are the numbers:

ANGI Chart


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