Salem Radio Network News Saturday, January 28, 2023

Business

Salesforce, Coinbase rise; Microsoft falls

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday:

Salesforce Inc., up $4.81 to $139.59.

The cloud computing software company is laying off about 10% of its workforce in the latest round of job cuts in the tech industry.

Progress Software Corp., up 44 cents to $51.41.

The business software maker is buying MarkLogic for $355 million.

Alibaba Group Holding Ltd., up $11.94 to $103.92.

Chinese regulators said the e-commerce giant’s finance affiliate Ant Group can raise $1.5 billion for its consumer finance unit.

Vimeo Inc., up 14 cents to $3.62.

The video hosting platform is reportedly cutting jobs.

Geron Corp., up 79 cents to $3.19.

The biotechnology company gave investors an encouraging study update for a potential blood cancer treatment.

Microsoft Corp., down $10.48 to $229.10.

Wall Street is worried about growth for the technology giant’s cloud computing and software products.

Coinbase Global Inc. up $4.10 to $37.70.

New York announced a $100 million settlement with the cryptocurrency exchange over compliance issues.

Southwest Airlines Co. up $1.02 to $33.62.

The airline is offering frequent flyer points and apologies to travelers who were caught in its surge of canceled flights over the holidays.

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