Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
The U.S. Federal Reserve on Wednesday cut its overnight rate by 25 basis points to a range of 1.75% to 2%, a move that was widely expected. The central bank, however, appeared...Asia Marketsread more
Investors bought bank stocks because there's a chance the Federal Reserve's interest rate cut may "put an end to this artificially inverted yield curve," Jim Cramer says.Mad Money with Jim Cramerread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
(Read more: The cloud: A tsunami of data is headed your way )
In its initial public offering Wednesday, the cloud-based software company saw its shares, which had been priced at $20, soar as high as $39.64. The stock closed at $37.16 a share.
The Pleasanton, Calif.-based company is part of two major trends that investors can't seem to get enough:
1) It's a cloud service provider for life sciences companies, including big names such as Pfizer, Eli Lilly, Novartis and Genentech.
2) It has been profitable for the past three years and in the past year generated more operating cash flow than it raised in funding.
The growth was a result of Veeva's emphasis on creating an "industry cloud," or vertical, said CEO Peter Gassner, who added that tailoring services to a a specific industry differentiates his 6-year-old company from a legacy business like Oracle.
Veeva has had success getting big clients because its specialized product enables clients to track prescribing habits while complying with regulations, he said.
The company offers three primary products: Veeva CRM, an app for pharma sales reps; Veeva Vault, a content management system and collaboration tool; and Veeva Network, a directory of health-care professionals.
Gassner, a former Salesforce executive and ex-IBMer, said the move from client server to the cloud has opened doors for more products because of the massive amounts of data Veeva collects.
"There are some interesting trends that become available when the majority of companies industries are all using a specific cloud application," he said. "You can essentially crowdsource new data about what the life science industry is doing overall. While the apps are great, the data opportunity is really interesting."
Because Veeva has access to a large amount of information from life sciences companies, it can spot industry trends. Such insights are valuable to big pharma and biotech businesses, and the data-driven service can eventually become another Veeva product.
"It all about industry cloud and data," Gassner said. "It's not rocket science."
—By CNBC's Cadie Thompson. Follow her on Twitter @CadieThompson.