Facebook-backed Libra currency group renames itself Diem ahead of potential January launch
The Libra Association – the splashy effort backed by Facebook (NASDAQ:FB) to create a new digital currency – has rebranded itself.
It’s renamed itself to Diem, and Reuters says the libra currency is also now called Diem.
The news follows reports in the Financial Times that the currency could roll out in a limited fashion as soon as January. That rollout would come as a single coin (backed one-for-one by the dollar), and with other currencies added to the backing basket later.
And it also follows the earlier renaming of Facebook’s digital wallet from Calibra to Novi. Novi told the FT that the currency is ready as a product, but its rollout will be partial for reasons including that it needs to get licenses in up to 10 U.S. states.
Meanwhile, other backers of Diem including Uber (NYSE:UBER) and Spotify (NYSE:SPOT) say they’ll wait to see how the public receives the currency before electing to use it.
The chief differentiator between Diem and popular cryptocurrencies like Bitcoin (BTC-USD) is the backing by government currency – meant to stabilize the new offering and ensure secure global transactions.
Salesforce acquiring Slack in $27.7B cash and stock deal
Each Slack shareholder will receive $26.79 in cash and 0.0776 Salesforce shares per share.
Salesforce expects the deal, which will be funded with a combination of new debt and cash on hand, to close during Q2 FY22.
“Stewart and his team have built one of the most beloved platforms in enterprise software history, with an incredible ecosystem around it,” says Salesforce CEO Marc Benioff. “This is a match made in heaven. Together, Salesforce and Slack will shape the future of enterprise software and transform the way everyone works in the all-digital, work-from-anywhere world. I’m thrilled to welcome Slack to the Salesforce Ohana once the transaction closes.”
CRM shares are down 2.7% AH and Slack is down 3%, likely because investors were already expecting today’s deal announcement.
Veeva Systems EPS beats by $0.10, beats on revenue
Veeva Systems (NYSE:VEEV): Q3 Non-GAAP EPS of $0.78 beats by $0.10.
Revenue of $377.52M (+34.4% Y/Y) beats by $15.66M.
Revenues from Subscription services of $302.9M (+34% Y/Y) beats consensus $295.1M and Professional services and Other of $74.6M beats consensus $66.2M.
Adj. operating margin of 41.2% vs. consensus of 38.5%.
Q4 2021 Guidance: Total revenues of $378-$380M; adj. operating income of $136-$138M; Non-GAAP EPS of $0.67-$0.68.
2021 Guidance: Total revenues of $1,446-$1,448M; adj. operating income of $566-$568M; Non-GAAP EPS of $2.83-$2.84.
2022 Guidance: Total revenues of $378-$380M; Subscription services revenues of $1.39-$1.4B; adj. operating margin of roughly 37%.
Salesforce.com EPS beats by $0.99, beats on revenue
Salesforce.com (NYSE:CRM): Q3 Non-GAAP EPS of $1.74 beats by $0.99; GAAP EPS of $1.15 beats by $1.11.
Revenue of $5.42B (+20.2% Y/Y) beats by $160M.
Billings: $4.56B vs. $4.74B consensus.
Q4 Guidance: Revenue of $5.665B-$5.675B vs. $5.53B consensus. Non-GAAP EPS of $0.73-$0.74 vs. $0.86 consensus.
Raised FY21 Guidance: Revenue of $21.1B-$21.11B vs. prior guidance of $20.7B-$20.8B ($20.8B consensus).
Non-GAAP EPS of $4.62-$4.63 vs. prior guidance of $3.72-$3.74 ($3.75 consensus)
Shares -0.4%.
Box EPS beats by $0.06, beats on revenue
Box (NYSE:BOX): Q3 Non-GAAP EPS of $0.20 beats by $0.06; GAAP EPS of -$0.03 beats by $0.07.
