Nestlé to cut 16,000 jobs, Salesforce stock up on revenue guidance

Morning Brief host Julie Hyman tracks several of the day's top trending stock tickers, including Nestlé (NESN.SW) announcing 16,000 job cuts to come over the next two years, Salesforce (CRM) shares rising in pre-market trading after publishing upbeat revenue guidance, and Charles Schwab (SCHW) topping earnings estimates.

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Video Transcript

00:00 Speaker A

First up is Nestle. Its shares are up roughly 8% after it reported a rebound in sales and unveiled plans to cut 16,000 jobs. Now that earnings out performance was driven by price hikes in the coffee and candy businesses. Nestle's best known for brands like Kit Kat and Nespresso. It's on track for its largest one-day gain since 2008.

00:23 Speaker A

The company's CEO is looking to accelerate its turnaround, saying Nestle needs to change faster than the world is changing.

00:33 Speaker A

Next up is Salesforce. The software giant rising ahead of the open after raising its outlook for the next few years. The company saying it expects to see revenue of more than 60 billion in 2030, that's ahead of expectations.

00:46 Speaker A

The guidance does not include impact from the pending acquisition of Informatica. This announcement by the way, coming at Salesforce's annual Dreamforce conference.

00:58 Speaker A

And finally, we've got Charles Schwab. That stock jumping after earnings and revenue beat Wall Street's expectations.

1:07 Speaker A

A key metric for Schwab, total client assets up 17% year-over-year to a record 11.6 trillion dollars. Net interest margin expanding by 21 basis points to 2.86%.

1:19 Speaker A

As always, you can scan the QR code below to track the best and worst performing stocks with Yahoo Finance's trending tickers page.

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