Salesforce Holds Steady After Microsoft Opts For LinkedIn

Salesforce.com, inc. CRM shares are trading higher $0.20 at $82.13 in Monday's session. The issue spiked to $84.01 when Microsoft was halted prior to announcing it would acquire LinkedIn. Since it had been rumored in the past that Microsoft was going to acquire the company, aggressive traders bid up the issue in anticipation of that announcement

It quickly retreated to $79 when it was revealed that Microsoft wasn't buying Salesforce. Off the open, it mounted another rally with the market but found sellers just ahead of its June 9 high ($83.29) as the rally stalled at $82.99.

The issue retreated with the broad market, but found support just ahead of its May 23 low ($80.71), only reaching $80.80 before rebounding back to the $82 area.