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The SEC staff letter received by (CRM -2.9%) is nothing to worry about, argues...

The SEC staff letter received by (CRM -2.9%) is nothing to worry about, argues Morgan Stanley's Adam Holt: he notes 80% of the large-cap companies his firm follows have received such requests in response to their FY12 10-K filings. He views the questions asked of Salesforce in particular "as very common to those of other companies," and believes "they do not suggest any accounting improprieties." Nonetheless, Salesforce closed with losses today.
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Comments (3)
  • Doyle3000
    , contributor
    Comments (1732) | Send Message
    oh good a sell side analyst who covers the stock says everything is ok. I feel totally comfortable buying this stock with a $25b market cap that couldn't post a GAAP profit if it tried.


    thx 1999 it has been great visiting with you again. say hi to grandma
    16 Jan 2013, 04:30 PM Reply Like
  • slurie2
    , contributor
    Comment (1) | Send Message
    How irresponsible of Morgan Stanley and Adam Holt to make sure a ridiculous statement. The SEC does not send letters just because. This stock has never made sense, nor money. How can one argue the valuation has the merit to be at all time high levels with the future (next few years and possibly beyond) to not be profitable. This seems like this stock is stuck in the tech bubble of 2000. Buy and inflate because one day, just one day we will make money. When there is smoke there is fire. Look at GMCR-deny deny deny until David Einhorn presses enough that people start to listen. It wasn’t that his questions didn’t make sense… they seems very logical. CRM is the next great short of 2013. Just when all of the market makers are pushing it to the all-time high-One what basis? Accounting fraud?
    17 Jan 2013, 03:43 AM Reply Like
  • J_Aurelius
    , contributor
    Comments (8) | Send Message
    Both of those statements may very well be true. They may be common questions, and they may not indicate improprieties.


    However, people are reacting because they expect the answers to those questions to be very different with CRM than with the other 80% of the large-cap companies.


    Hoping for a catalyst soon.
    17 Jan 2013, 04:46 AM Reply Like
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