Salesforce (CRM) Receives Upgrade from Wolfe Research, Predicts Continued Growth in Cloud Computing Industry\n\nSalesforce (CRM) stock has received a significant upgrade from Wolfe Research, with a new price target of $315 per share. The company’s Managing Director & Head of Software Research, Alex Zukin, believes that if Salesforce were to pursue a merger or acquisition, their ability to strategically outline the profitability and accretion potential would be crucial. Zukin predicts that the company will focus on smaller deals rather than large, diluted mergers.\n\nThe technology market has seen significant growth this year, with the Nasdaq-100 Technology sector up 53.03% year-to-date, outpacing the S&P 500 Index’s 23.41% gain. This growth is largely due to advancements in high-growth areas such as artificial intelligence and cloud computing. Wedbush predicts that this trend will continue into 2024, with a surge in tech stocks as companies increase investments in AI and cloud technology.\n\nEven hedge funds, such as Tiger Global Management, have increased their holdings in key players in these areas, such as NVIDIA Corporation and Alphabet incorporated The IT sector as a whole is expected to grow at a CAGR of 15.9% between 2023 and 2028, driven by the growing competition for AI and cloud computing.\n\nSalesforce’s strong position in the cloud computing industry has also contributed to its success. The company offers a wide range of cloud-based solutions for businesses, including customer relationship management (CRM) software. With the increasing demand for cloud computing services, Salesforce is well-positioned to continue its growth trajectory.

'Novo Nordisk Successfully Removes Unauthorized Listings of Wegovy from IndiaMART, Pfizer's Shares Rise After FDA Approval\n\nNovo Nordisk, a leading Danish pharmaceutical company, has taken action against unauthorized listings of its popular weight-loss drug Wegovy on IndiaMART, an online marketplace in India. The company engaged in discussions with IndiaMART's top executives to establish a collaborative "framework" to identify and remove counterfeit listings, in an effort to curb illegal sales. Novo Nordisk's global spokesperson stated that the company regularly monitors suspicious or illicit online sales and works with platforms to prevent or address such unauthorized offers. The company did not provide details about its initiatives in India.\n\nThe drugmaker's India Managing Director, Vikrant Shrotriya, previously expressed the challenges in tracing illegal sellers and the complexity involved in effectively addressing this issue. Moreover, IndiaMART's inclusion on a U.S. Government agency's Notorious Markets list for 2022 highlights the persistence of counterfeit goods on the platform as a significant concern.\n\nIn other news, Pfizer's shares saw a 1.6% increase on Monday after the FDA approved the expanded use of Padcev, an antibody-drug conjugate (ADC) added from its recently closed acquisition of Seagen. The FDA approved Padcev in combination with Merck's Keytruda for the treatment of adult patients with locally advanced or metastatic urothelial cancer. This marks the first approval for a combination of an ADC product plus PD-L1 inhibitor for the treatment of advanced bladder cancer, offering an alternative to platinum-containing chemotherapy, the current standard of care.\n\nThe approval was based on data from the phase III EV-302 study, which showed that Padcev plus Keytruda nearly doubled the median overall survival and median progression-free survival in patients with advanced bladder cancer compared to platinum-containing chemotherapy. Pfizer believes this demonstrates the potential of Padcev plus Keytruda for the first-line treatment of patients with locally advanced or metastatic urothelial cancer.'