Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Google (GOOGL) is ramping up its efforts in the cloud wars. The tech giant is teaming up with Salesforce (CRM). The new partnership gives Salesforce customers access to Google platforms while expanding Google’s position in the cloud space. Salesforce will now use both Google and Amazon’s (AMZN) Web services as its cloud providers. Just two weeks ago Google teamed up with Cisco (CSCO) to grow its cloud base.
ADP (ADP) shares are on investors’ radars. Billionaire activist investor Bill Ackman’s Pershing Square has officially lost its bid for three ADP board seats, garnering less than 20% of the votes needed. This comes after a volatile proxy fight with the company. Ackman told Yahoo Finance that ADP had fallen behind in technology and needed to improve its margins. ADP CEO Carlos Rodriguez, on the other hand, told us it’s been making major improvements in both those areas.
Oprah Winfrey continues to beef up results for Weight Watchers (WTW). The stock surged in early trading after the weight loss company reported better-than-expected earnings and revenue for last quarter and raised its outlook for the year. Weight Watchers has been adding subscribers ever since Winfrey agreed to be the face of the company and became a board member about two years ago. Investors will continue tracking the company as it enters its crucial Christmas/New Year’s season.
Red Robin (RRGB) got crushed Tuesday morning after missing on both its top and bottom lines for its third quarter. The restaurant operator is working to retain customers as fast food chains regain market share in the food space. The company also blamed rising labor costs and prices for the miss.
And finally, Microsoft (MSFT) is debuting its new Xbox One X today. The $500 console is coming out just in time for the holiday season. It will aim to steal market share from Nintendo’s (NTDOY) extremely popular Switch device and Sony’s (SNE) latest PlayStation. Analysts are expecting consumers to spend over $33 billion in the video game market this year.