Oracle Earnings Report
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Oracle Earnings Report | Closing Bell
Oracle Corp Photographer: David Paul Morris/Bloomberg
Oracle beats on earnings, but stock drops on plans to raise another $20 billion
Oracle reported better-than-expected earnings and revenue for the fiscal fourth quarter on Wednesday while also raising its profit forecast for the year. The stock dropped 5% in extended trading as the company plans to raise more money to finance its AI buildout. Here's how the company did in comparison with LSEG consensus: - Earnings per share: $2.11 adjusted vs. $1.96 expected - Revenue: $19.18 billion vs. $19.10 billion expected Revenue increased 21% year over year in the quarter, which...
Two reasons for optimism after Tuesday's whipsaw market sell-off
With CPI inflation data in the morning and software giant Oracle reporting earnings after the bell, Wednesday presents a big test for a U.S. stock market trying to find its footing after its worst day in a year and a nail-biting whipsaw session on Tuesday. There's reason for optimism, judging by bullish options flows around stocks that do better when interest-rates stay lower, and call-buyers who are prepared for the biggest move in Oracle since Covid. First, inflation: despite economists...
Oracle founder Larry Ellison loses more than $47 billion in less than 7 days
Larry Ellison has lost more than $47 billion in personal wealth in less than a week as shares of Oracle continued to fall ahead of the company's earnings report. Ellison's fortune dropped from about $296 billion last Tuesday, June 2 to around $249.7 billion, according to Forbes' Real-Time Billionaires List. The fall comes as investors pull back from technology and AI-related stocks, leading to a broader selloff across the sector.
As AI-related stocks dive, the market's winners have one thing in common
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks are falling hard on Friday , likely putting an end to the S & P 500 's 9-week win streak. After driving the market's gains for the past several months, technology and AI infrastructure stocks sold off sharply, sending the Nasdaq down about 3% and marking its worst day since October.
Jim Cramer's top 10 things to watch in the stock market Tuesday
My top 10 things to watch Tuesday, June 9 1. U.S. stocks are set for a higher open, with the S & P 500 and Nasdaq set to recover more ground after Friday's massive selloff. Oil prices and bond yields are lower.
Starbucks stock is a bright spot in Wednesday's bleak market. Here's why
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. The S & P 500 and Nasdaq were headed for back-to-back losses . A rise in oil prices Wednesday on renewed Iran war tensions pressured stocks.
Here are the 6 big things we're watching in the stock market this week
Earnings season for Club names has come to an end, but that doesn't mean the excitement has. This coming week is packed with market-moving inflation data and two key corporate events. Apple's Worldwide Developers Conference starts its five-day run on Monday, and Apple is expected to raise the curtain on a new, conversational Siri assistant, powered by Google's powerful Gemini artificial intelligence model.
Stocks sink as interest rate hike worries rattle tech amid nonstop AI spending
Major stock indexes fell sharply Friday after a strong jobs report set the stage for the Federal Reserve to hike rates, rattling shares of companies that are involved in sky-high artificial intelligence investments. The threat of higher interest rates often sends stocks lower because borrowing money, especially at the large sums that AI firms are borrowing at, becomes more expensive. The Nasdaq 100, which tracks the largest non-financial tech stocks traded on the Nasdaq stock exchange,...
Outsourcing jobs in Philippines and India come under threat as workers race to adapt to AI
Outsourcing jobs in Philippines and India come under threat as workers race to adapt to AI Millions of employees power the world’s two outsourcing giants, but automation is starting to replace tasks they once handled. When will the full scale of disruption hit and how might they have to rethink the future, CNA’s Insight asks. MANILA and BENGALURU: