Salesforce.com, Inc. (NYSE:CRM) Eyes Slack Technologies Inc. (NYSE:WORK) As Pfizer Inc. (NYSE:PFE) Is Hit With Supply Constraints
It is no longer a secret that salesforce.com, Inc. (NYSE:CRM) has set sights on taking on Microsoft Corporation (NASDAQ:MSFT) with its proposed $27.7 billion acquisition of Slack Technologies Inc. (NYSE:WORK). Microsoft Teams has been the biggest headwind in Slack’s ambitions to be the preferred communication tool amid the working-from-home trend.
With Microsoft sitting on a $137 billion cash hoard, Salesforce and Slack appear underdogs in the race for enterprise clients. However, they are not to be pushovers even though Microsoft owns a competitive edge in the sector.
Salesforce has grown to become one of the biggest software companies in the customer relationship management segment. Its grand plan is combining Slack Connect and Salesforce Customer 360 all to rival Microsoft Teams when it comes to facilitating Digital work.
A merger between Salesforce and Slack should result in a powerhouse capable of rivaling Microsoft when it comes to collaboration and workflows. Bringing Customer 360 and Slack Connect together should help the combined company address the needs of enterprises and partners looking to collaborate.
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As Salesforce moves to strengthen its competitive edge against Microsoft, it’s not all good news for Pfizer Inc. (NYSE: PFE). A day after the drug maker’s experimental vaccine got the nod from regulators in the U.K, the stock came down tumbling as investors reacted to the cutting of the COVID vaccine rollout target.
The U.S drug maker says it will only be able to ship half of the COVID-19 vaccine originally planned due to supply problems. Immediate reports indicate that the company is struggling to get the much needed raw materials that meet standards to produce the vaccine in volume. The company now plans to ship 50 million doses by the end of the year, down from 100 million initially planned.
Pfizer is not the only stock at risk of edging lower, the gauge factor commonly used by warren Buffett to gauge the market is already signaling a potential pullback. The market gauge is currently flirting with fresh highs signaling stocks are overvalued. The sentiments come amid growing concerns that the stock market could pull lower amid overvaluation concerns.