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

The SEC staff letter received by Salesforce.com (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.