Check out the companies making headlines before the bell. Salesforce — Shares of the cloud software vendor plunged 16% after the company reported weaker-than-expected revenue and issued guidance that trailed Wall Street's expectations. Revenue in the fiscal first quarter increased 11% from a year earlier, marking the first time since 2006 that Salesforce fell short on revenue, according to LSEG data. Salesforce said it saw budget scrutiny and longer deal cycles than usual during the quarter.
Earnings per share came in at $1.65, versus the $1.57 expected from analysts polled by LSEG. Revenue was $9.91 billion, beating the $9.90 billion consensus estimate. Kohl's — Shares plunged 20% after the department store chain posted a first-quarter loss of 24 cents per share, whereas analysts had expected a gain of 4 cents, according to LSEG. The company's $3.18 billion revenue also came below the expected $3.34 billion.
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