Todd Sullivan takes a look at Salesforce.com's (CRM) latest 10-Q, and doesn't like what he sees....

|By:, SA News Editor

Todd Sullivan takes a look at Salesforce.com's (CRM) latest 10-Q, and doesn't like what he sees. In addition to the deferred revenue weakness noted by others (I, II), Sullivan is critical of stock compensation expenses that continue to eclipse Salesforce's guidance, partly due to strong insider selling, and the presence of ~$130M in CMOs and mortgage-backed securities on its balance sheet.