Carl Quintanilla, Jim Cramer and David Faber drilled down on tech and the AI trade: Salesforce shares fell in reaction to the company&#x27;s mixed Q1 results and lighter-than-expected revenue guidance for the current quarter. Shares of Snowflake soared on news of its Q1 beat, raised outlook and a $6 billion commitment to its multiyear partnership with Amazon&#x27;s AWS. On the M&amp;A front: Fertitta Entertainment agrees to buy Caesars Entertainment in an all-cash deal valued at $5.7 billion. Also in focus: Crude oil prices rise amid faltering hopes for a U.S.-Iran deal, Marvell extends its rally, Dell wins Pentagon contract, retailers surging on earnings, Meta launches subscriptions, Cramer&#x27;s take on investing in Microsoft, economic data deluge. Squawk on the Street Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

9AM Hour: Salesforce Falls, Snowflake Soars, Fertitta Buys Caesars in $5.7B All-Cash Deal   5/28/26

Squawk on the Street

# Full Transcript

**Podcast:** Squawk on the Street

## Participants

- **Carl Quintanilla** (CNBC)
- **Jim Cramer** (CNBC)
- **David Faber** (CNBC)

## Transcript

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[SPEAKER_02] It's Jim Cramer here. You're listening to the opening bell on CNBC's Squawk on the Street. Don't miss a minute of the action.

[SPEAKER_11] Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber, Post 9 of the New York Stock Exchange. Features trying to erase some early losses on some solid earnings out of specialty retail and some tech. Dell and Marvell up 5% plus. April PCE comes in warm up 3.8. That's a three-year high. Oil's a headwind, too, on these faltering hopes for an Iranian deal as the U.S. issues some strikes on Iranian drones and a missile aimed at Kuwait.

[SPEAKER_11] Our roadmap, though, begins with Salesforce sliding despite posting a beat, adding to its yearly losses, down more than 30% this year.

[SPEAKER_12] On the flip side, we've got shares of Snowflake up more than 30% this post earnings. The company also strengthening its relationship with Amazon Web Services. We'll give you all the details around that quarter and that move. Also got a takeover of Caesars for Fertitta's acquiring the company. On the equity side, deals worth about $5.7 billion, and it is all cash for our current ambassador to Italy. See? This is a guy.

[SPEAKER_11] Yeah. Let's get things started, though, with Salesforce. Some mixed results, a light sales guidance. This is what Benioff had to say to Jim last night on Mad Money about the road ahead.

[SPEAKER_00] We're going to have a monster year. We're going to deliver more than $46 billion in revenue this year. There's no enterprise software company that's doing more than Salesforce is. And I think that being the largest in the field, delivering the agentic capability across all of our products, helping all of our customers cross the chasm into this new world of the agentic enterprise, that this remains our main focus.

[SPEAKER_11] It is their first $11.1 billion quarter, Jim. As Mark said, their 1-1-1 model.

[SPEAKER_02] Yeah, now, exactly. Everybody wins in the 1-1-1. Now, okay, so Mark's trying to do something that Snowflake is doing, something that ServiceNow is doing, that Work...

9AM Hour: Salesforce Falls, Snowflake Soars, Fertitta Buys Caesars in $5.7B All-Cash Deal 5/28/26

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

9AM Hour: Salesforce Falls, Snowflake Soars, Fertitta Buys Caesars in $5.7B All-Cash Deal 5/28/26

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.