Salesforce is dealing with five powerful activist investors. One way to get these firms off your back is performing well, which drives up stock prices. Salesforce checked that box with a stellar quarterly report this week, beating street expectations by a wide margin.
That could buy some time for the beleaguered company, and it was certainly better than a poor report. But is it enough to keep the activist investors at bay?
On the same day the company was to report earnings, one of those activists, Elliott Management, indicated that it would be putting forth its own slate of candidates for the board of directors, a move aimed at gaining enough voting control to impose its agenda.
With successful quarterly revenue of $8.38 billion, Salesforce now faces scrutiny regarding how it could lay off 10% of its workforce amid such great performance (and …
