ServiceNow shares rise 10% on Salesforce read-through with no company news

ServiceNow shares rose 10.04% to $138.43 on Thursday, August 27, from $125.80 the day before. The move followed Salesforce's strong results the previous evening, and ServiceNow had no earnings, guidance or deal news of its own that day. Its CFO spoke at a Deutsche Bank technology conference that morning, arguing that AI spending is not crowding out software budgets.

• Close $138.43 versus $125.80 the prior session, up 10.04%
• Driver: Salesforce's August 26 results and AI revenue read-through
• No ServiceNow earnings, guidance or deal announced that day
• CFO Gina Mastantuono spoke at the Deutsche Bank Technology Conference