$ORCL

$AMAT$AMZN$GOOGL$IBM$NOW$ORCL

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 3.1% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing 6%.The Philadelphia Semiconductor index jumped 6.9%.In corporate news, Applied Materials (AMAT) shares jumped past 10% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.Amazon-backed (AMZN) Anthropic signed over a dozen initial agreements to lease data center facilities from US developers, and the AI company has privately discussed a plan to have Alphabet's (GOOGL) Google provide a financial guarantee for its lease payments, The Information reported. Amazon shares rose 1%, and Alphabet was fractionally lower.Oracle (ORCL) shares fell 9.2% after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.IBM (IBM) and ServiceNow (NOW) said Thursday they have expanded their collaboration to help enterprises modernize legacy data and accelerate the use of AI. IBM shares added 0.9%, and ServiceNow was down 2.4%.

Oracle Reports $395.8 Million Federal Contract Award

Oracle (ORCL) said Thursday the US Office of Personnel Management has awarded the firm a $395.8 million Federal HRIT Modernization Core Human Capital Management contract.The contract is to deliver a HR platform to the government that will replace over 100 separate systems and serve as the single system of record for workforce management, Oracle said.Price: $182.37, Change: $-18.89, Percent Change: -9.39%

Dow JonesNasdaq CompositeS&P 500$ADBE$DAN$ETN$LEN$ORCL$RH

Update: Equities Rise Intraday, Oil Drops as Trump Cancels Iran Strikes

(Updates with latest market prices and developments.)US benchmark equity indexes were higher intraday, while oil prices fell as President Donald Trump called off the latest round of strikes against Iran.The Dow Jones Industrial Average was up 1.5% at 50,687.4 after midday Thursday, while the Nasdaq Composite rose 1.6% to 25,563.4. The S&P 500 increased 1.2% to 7,352.8. Barring energy and communication services, all sectors were in the green, led by industrials.West Texas Intermediate crude oil was down 3.5% at $86.91 a barrel, while Brent fell 3.9% to $89.52.Trump said he has cancelled the strikes and bombings against Iran that were scheduled for later in the day."Discussions and final points have been, in both concept and great detail, approved by all parties involved," Trump said in a social media post. "The naval blockade will remain in full force and effect until this transaction is finalized -- time and place of the signing to be announced shortly."US forces launched airstrikes against Iran Tuesday after Tehran shot down an American Apache helicopter. The US fired additional missiles Wednesday.Iran's strait authority said earlier in the day that the Strait of Hormuz will be closed "until further notice" following an exchange of fire with the US, CNN reported Thursday.The Organization of the Petroleum Exporting Countries lowered its global oil demand growth forecast for this year, but raised its expectations for 2027.US Treasury yields were lower intraday, with the 10-year rate down 6.5 basis points at 4.48% and the two-year rate falling five basis points to 4.08%.In economic news, US producer prices rose more than projected in May, matching the previous month's pace, while the annual increase reached the highest since late 2022 amid surging energy costs, government data showed.On Wednesday, consumer price data showed inflation accelerating to the fastest pace in about three years last month, reinforcing expectations that the Federal Reserve will keep interest rates on hold."A fresh multiyear high in consumer and producer prices underscores the pain befallen on consumers resulting from disruptions in the global energy market," Stifel said in a note. "For the Fed, dangerously high levels of inflation suggest additional accommodation is off the table, at least for now."In company news, Eaton (ETN) will combine its mobility business with auto parts supplier Dana (DAN), creating a global powertrain entity valued at more than $10 billion. Eaton shares were up 4.6% intraday, while Dana slumped 15%.Oracle (ORCL) shares were down nearly 12%, the worst performer on the S&P 500. Late Wednesday, the cloud computing company's fiscal fourth-quarter results surpassed Wall Street's estimates, driven by rising demand for cloud infrastructure amid an artificial intelligence boom.UBS Securities said Thursday the sell-off in Oracle's shares could be due in part to its higher-than-expected capital expenditure outlook for the year.Adobe (ADBE), Lennar (LEN) and RH (RH) are expected to report results after the closing bell Thursday, along with others.Gold was up 0.9% at $4,169.10 per troy ounce, while silver rose 1.9% to $66 per ounce.

Top Midday Decliners

Oracle (ORCL) plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale, the company said late Wednesday.Wedbush cut its price target for Oracle's shares to $240 from $275, citing the debt raise.Shares dropped 12%, with intraday trading volume rising to more than 41.4 million from the stock's daily average of about 26.1 million.Atossa Therapeutics (ATOS) entered into a registered direct offering targeting gross proceeds of up to $16.5 million, the company said Thursday.Shares dropped 42%, with intraday trading volume rising to more than 1.1 million from the stock's daily average of 60,349.Oxford Industries' (OXM) shares slumped 18% after the clothing firm reported late Wednesday a fiscal Q2 sales outlook below analyst estimates, while Q1 adjusted earnings and revenue declined from a year ago.More than 958,000 shares of the company traded intraday compared with a daily average of about 347,000.Price: $178.43, Change: $-22.84, Percent Change: -11.35%

$ATOS$ORCL$OXM

Oracle Sell-Off Could be Due to Higher-Than-Estimated Capex Outlook, UBS Says

Oracle's (ORCL) post-earnings sell-off could be due to its higher-than-expected capital expenditure outlook and its largely unchanged earnings and sales guidance for the year, UBS Securities said Thursday.Late Wednesday, the cloud computing company maintained its fiscal 2027 revenue outlook at $90 billion and raised its non-GAAP earnings guidance to $8.05 a share. Its fourth-quarter results surpassed Wall Street's estimates, driven by rising demand for cloud infrastructure amid an artificial intelligence boom.Oracle shares were down 11% in Thursday afternoon trade. The stock has lost 8.4% in value so far this year."The (latest) stock reaction may be rooted in a (2027) capex guide of ($90 billion to $95 billion) that was above the (roughly $85 billion) buy-side consensus," as well as its full-year top- and bottom-line projections, which were basically reaffirmed, UBS analysts Karl Keirstead and Radi Sultan said in a note to clients Thursday.The brokerage maintained its buy rating and a $285 price target on the Oracle stock."Importantly, Oracle said that peak dollar capex will be in (2027/2028), the first major cloud (infrastructure) provider to clarify this and motivating us to trim our (2029 onward) capex estimates," the UBS analysts said.The company's latest quarterly results showed constant currency revenue growth of 20%, which was at the high end of the guide. Its cloud infrastructure growth of 92% was in-line with expectations, while margins and EPS "solidly beat," Keirstead and Sultan said.For the ongoing quarter, Oracle expects reported revenue to grow by 27% to 29%, with cloud sales seen rising 58% and 64%."The real upside was in the (first-quarter) cloud guide, which assuming stable 9% (software-as-a-service) growth implies outstanding infra/OCI growth of (about) 120%, well above our (105% growth) estimate, as the pace of AI capacity additions accelerates to a full 1 (gigawatt) in the quarter," Keirstead and Sultan said Thursday.Price: $177.85, Change: $-23.41, Percent Change: -11.63%

Dow JonesNasdaq CompositeS&P 500$AMAT$ORCL$SPCX

Asia Markets4d ago

Update: US Equity Indexes Advance Following Slower-Than-Expected Growth in Core Producer Price Inflation

(Updates with new information from the first paragraph.)US equity indexes rose as bets for an interest-rate increase this year were little changed after core producer price inflation grew less than forecast, helping offset the impact of President Donald Trump's threats of more attacks on Iran.The Dow Jones Industrial Average rose 0.6% to 50,237.1, followed by a 0.5% gain in the Nasdaq Composite to 25,292.3 and a 0.3% increase in the S&P 500 to 7,287.5 in midday trading on Thursday.All sectors except communication services, financials, and real estate advanced. Industrials and materials led the gainers.The core Producer Price Index, which excludes the more volatile food and energy prices, grew 0.4% in May, slower than the 0.5% gain expected in a Bloomberg-compiled poll and a 0.7% rise in April. Core PPI remained at 4.9% year-over-year but below the 5.4% consensus.Headline producer prices rose by 1.1% in May, the same as in April but above the forecast for a 0.7% gain. PPI jumped 6.5% year-over-year, the strongest pace since November 2022, from 5.7% in the previous month."This is a Fed that has been willing to tolerate above-target inflation for years, so any notion of a temporary, or bringing back a favorite word, 'transitory' impact from higher energy prices will not be enough to force the Fed's hand," Stifel Chief Economist Lindsey Piegza said in a note. "While several members have voiced a willingness to consider a higher policy target, the majority still remain optimistic [that] elevated prices will prove somewhat temporary with inflation potentially cooling later this year."The probability of a 25-basis-point increase in interest rates to a target range of 3.75% to 4% in December remained at 43% from a day ago, according to the CME FedWatch tool. The comparisons for September were 36% versus 34%, and, for October, the data showed an increase to 41% from 39%, implying modest rate-hike probabilities following the producer price inflation data.Initial jobless claims rose to 229,000 during the week ended June 6 from 225,000 in the prior week and above the 220,000 expected."It is more likely than not that this [claims data] is just seasonal noise," Jefferies Chief US Economist Thomas Simons said in a note. "Nonetheless, this data continues to be an important area to watch."Meanwhile, crude oil futures rose, with front-month global benchmark North Sea Brent up 0.8% to $93.87 per barrel and US West Texas Intermediate higher by 1.5% to $91.35 per barrel.The US will hit Iran with an attack "VERY HARD TONIGHT," and it will take control of the Kharg Island sometime in the "not too distant future," President Donald Trump said Thursday on a Truth Social post. The island is reportedly the gateway for a vast majority of Iran's crude oil exports. Iran's Foreign Ministry has condemned the recent US strikes on the country, saying that it has rendered the ceasefire "practically meaningless," the Associated Press reported Thursday.US Treasury yields traded mixed, with the 10-year down one basis point to 4.53% while the two-year rose 1.6 basis points to 4.14%.In company news, BlackRock placed a $5 billion order to buy shares of SpaceX (SPCX), The Wall Street Journal reported. The company is expected to go public on Friday.Oracle (ORCL) shares sank 12%, the worst performer on the S&P 500, after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale. Wedbush cut its price target for Oracle's shares to $240 from $275, citing the debt raise.Applied Materials (AMAT) shares jumped 6.7%, among the top gainers on the Nasdaq, after the firm expanded manufacturing and research & development operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.

Sector Update: Tech Stocks Advance in Afternoon Trading

Tech stocks were higher Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.8% and the State Street SPDR S&P Semiconductor ETF (XSD) climbing up 2.2%.The Philadelphia Semiconductor index gained 3.1%.In sector news, SpaceX has drawn over $100 billion in orders from retail investors bidding for shares in its initial public offering, Bloomberg reported.In corporate news, Applied Materials (AMAT) shares jumped past 5% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand.Oracle (ORCL) shares fell 12% after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.Amazon (AMZN) said Thursday its global data center footprint used 2.5 billion gallons of water in 2025, as the tech giant provided an update for its 2030 goal of returning more water to the communities where it operates than what it uses for its data centers. Amazon shares were down 0.7%.

$AMAT$AMZN$ORCL

Update: Wedbush Cuts Oracle Price Target to $240 From $275 Citing Debt Raise Plans, Keeps Outperform Rating

(Updated to include Wedbush commentary)Wedbush cut its price target on Oracle (ORCL) to $240 from $275, citing the firm's announcement of a $40-billion debt raise in fiscal 2027.The huge debt and equity financing by the cloud computing firm to support the AI/cloud opportunity ahead "is not a move the Street wants to see and continues to create this "tug of war" on the name between RPO and the necessary capital raises/AI datacenter buildout in the near-term," analysts led by Dan Ives wrote in a Thursday note.Oracle has an average rating of overweight and mean price target of $256.30, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $178.42, Change: $-22.85, Percent Change: -11.35%

Oracle Taking 'Right Steps' to Capture AI Opportunity, Wedbush Securities Says

Oracle (ORCL) is taking the "right steps" to address the massive artificial intelligence opportunity ahead, with its record backlog providing the revenue visibility needed to support an aggressive capacity buildout, Wedbush Securities said in a note Thursday.The investment firm highlighted Oracle's remaining performance obligations of $638 billion, up 363% year over year and above expectations, as evidence of accelerating demand for cloud services, AI training and inferencing. Oracle's fiscal Q4 revenue of $19.18 billion and adjusted earnings per share of $2.11 also exceeded Wall Street estimates.Management said it plans to raise about $40 billion through debt and equity financing in fiscal 2027, including a planned $20 billion at-the-market equity offering, to support AI infrastructure growth. Wedbush said prepayments and customer-supplied hardware on large AI contracts should help reduce financing needs, although adding more debt is likely to raise investor concerns.Wedbush Securities maintained an outperform rating on Oracle, while lowering the price target to $240 from $275.Shares of Oracle were down 10% in Thursday trading.Price: $181.05, Change: $-20.21, Percent Change: -10.04%

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$JD$NVS$ORCL$TSLA

Asia Markets4d ago

Update: US Equity Futures Rise Pre-Bell After US Says Strikes Completed Against Iran

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Thursday as the US said it completed attacks against Iran after another round of "self-defense strikes."Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.The strikes, which started after a US Army Apache helicopter was shot down on Wednesday, were conducted at the direction of President Donald Trump, US Central Command said in an X post. Iran responded with attacks on Kuwait and Bahrain, while Israel warned of launches from Lebanon.Trump later told Fox News that he had spoken directly with Iranian officials, who had asked him to stop bombing.Traders watched the latest round of earnings, with Oracle (ORCL) posting higher fiscal Q4 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.5% at $93.52 per barrel and US West Texas Intermediate crude 0.7% higher at $90.66 per barrel.The US Producer Price Index, released at 8:30 am ET, rose by 1.1% in May following a similar increase in April, above the 0.7% gain expected in a survey compiled by Bloomberg. The weekly jobless claims bulletin showed 229,000 new unemployment claims for the week ended June 6, compared with the 225,000 in the prior week and above the 220,000 expected.In other world markets, Japan's Nikkei closed 0.1% higher, Hong Kong's Hang Seng ended 0.7% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.6%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, Oracle stock was down 11% after the company said it plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale. Alibaba (BABA) and JD.com (JD) shares fell 4.5% and 2.3%, respectively, following media reports of complaints by Chinese regulators over allegedly misleading promotions.On the winning side, Tesla's (TSLA) stock was up 0.9% after Belgian government official Annick De Ridder said that the company's full self-driving technology has been approved in the country. Applied Materials (AMAT) shares rose 4.2% after the company said it has expanded its manufacturing and R&D operations in Singapore with a $500 million facility in Tampines to support AI-driven semiconductor demand. Novartis (NVS) stock was up 2.4% after the company said the phase I/II study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$BP$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NVS$ORCL$PCT$PMR$QQQ$RTH$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$WT$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD

Sector Update: Tech Stocks Higher Pre-Bell Thursday

Technology stocks were higher pre-bell Thursday, with the State Street Technology Select Sector SPDR ETF (XLK) advancing by 1.5% and the State Street SPDR S&P Semiconductor ETF (XSD) 2.4% higher.Shares of Oracle (ORCL) fell over 9% in premarket activity as the cloud computing company announced plans to raise an additional $20 billion in equity and debt for its capital expenditures in fiscal 2027.Coupang (CPNG) shares were up more than 7% before market open. Bloomberg reported that Coupang's South Korean entity was hit with a record 624.7 billion won ($409 million) fine for a major data breach and associated privacy violations that impacted nearly 34 million accounts.SAP (SAP) stock retreated more than 2% pre-bell after Goldman Sachs cut its price target on the company.

$CPNG$ORCL$SAP$XLK$XSD

Commodities4d ago

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid US Attacks on Iran

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.3% and the actively traded Invesco QQQ Trust (QQQ) advanced 0.6% in Thursday's premarket activity, amid US attacks on Iran and ahead of economic data.US stock futures were also higher, with S&P 500 Index futures up 0.4%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 0.8% before the start of regular trading.May's producer price index, a measure of wholesale prices, and the weekly jobless claims bulletin are scheduled to be released at 8:30 am ET.Weekly natural gas stocks post at 10:30 am ET.In premarket action, bitcoin was up by 3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 1.9% higher, Ether ETF (EETH) advanced 1.9%, and Bitcoin & Ether Market Cap Weight ETF (BETH) retreated by 0.1%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1.4% and the Vanguard Industrials Index Fund (VIS) added 0.3%, while the iShares US Industrials ETF (IYJ) was 0.6% lower.PureCycle Technologies (PCT) stock was down more than 16% before the opening bell after the company priced simultaneous public offerings of debt and equity to generate $395 million in total gross proceeds.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) and the iShares US Technology ETF (IYW) advanced 1.4% each, while the iShares Expanded Tech Sector ETF (IGM) was up 1.5%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 3.2%, while the iShares Semiconductor ETF (SOXX) rose by 3%.Oracle (ORCL) shares were down more than 10% in premarket activity as the cloud computing company announced plans to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 1.7% lower.WisdomTree (WT) shares were down more than 5% pre-bell, continuing from a 1.9% fall in the previous session. The company reported higher assets under management and net inflows for May.HealthcareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) was down 0.5%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) was 0.9% higher.Novartis (NVS) stock was up more than 2% premarket after the company said a phase 1/2 study of its experimental therapy, del-brax, met both primary and key secondary endpoints in patients with facioscapulohumeral muscular dystrophy.EnergyThe iShares US Energy ETF (IYE) advanced 0.02%, while the State Street Energy Select Sector SPDR ETF (XLE) was up by 1%.BP (BP) stock was up more than 2% before market open a day after the company said its Whiting refinery team held a 63rd formal bargaining meeting with the United Steelworkers Local 7-1 committee to discuss a new labor contract.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.2%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) retreated by 0.01%. The iShares US Consumer Staples ETF (IYK) fell by 0.7%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.3%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) rose by 0.8%.Tesla (TSLA) shares were up nearly 1% pre-bell after Annick De Ridder, Flemish Minister of Mobility, Public Works, Ports, and Sport, said in an X post that the EV maker's full self-driving technology has been approved in Belgium.CommoditiesFront-month US West Texas Intermediate crude oil rose 0.9% to $90.83 per barrel on the New York Mercantile Exchange. Natural gas was down 1.5% at $3.14 per 1 million British Thermal Units. The United States Oil Fund (USO) rose 0.4%, while the United States Natural Gas Fund (UNG) was 1.2% lower.Gold futures for July retreated by 0.7% to $4,105.70 an ounce on the Comex. Silver futures declined by 1.3% to $63.87 an ounce. SPDR Gold Shares (GLD) was up by 0.04%, and the iShares Silver Trust (SLV) decreased by 0.2%.

Dow JonesNasdaq CompositeS&P 500$ORCL

Sector Update: Tech

$ORCL$XLK$XSD

Japan4d ago

US Equity Futures Rise Pre-Bell After US Says Strikes Completed Against Iran

US equity futures were higher pre-bell Thursday as the US said it completed attacks against Iran after another round of "self-defense strikes."Dow Jones Industrial Average futures were 0.8% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 1.2% higher.The strikes, which started after a US Army Apache helicopter was shot down on Wednesday, were conducted at the direction of President Donald Trump, US Central Command said in an X post. Iran responded with attacks on Kuwait and Bahrain, while Israel warned of launches from Lebanon.Trump later told Fox News that he had spoken directly with Iranian officials, who had asked him to stop bombing.Traders watched the latest round of earnings, with Oracle (ORCL) posting higher fiscal Q4 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.4% at $91.78 per barrel and US West Texas Intermediate crude 1.2% lower at $88.92 per barrel.The May Producer Price Index, scheduled for release at 8:30 am ET, is expected to show a 0.7% gain following a 1.4% increase in the preceding month, according to estimates compiled by Bloomberg. The weekly jobless claims bulletin is expected to show 220,000 new unemployment claims for the week ended June 6, down from 225,000 in the prior week.

Dow JonesNasdaq CompositeS&P 500$ADBE$LEN$ORCL$RH

Stocks Rise Pre-Bell as Investors Assess Middle East Tensions, Await PPI Data

US equity markets were tracking in the green before the opening bell Thursday as traders assess escalating hostilities between the US and Iran and await the latest data on wholesale prices.The S&P 500 rose 0.7%, the Dow Jones Industrial Average increased 0.8% and the Nasdaq gained 1.1% in premarket activity. The indexes finished the previous trading session in the red, with the Nasdaq and the S&P 500 closing at their lowest levels in about five weeks.The US Central Command said Wednesday its forces completed additional "self-defense" strikes against Iranian military surveillance capabilities, communication systems and air defense sites, in response to Tehran's "unwarranted and continued aggression."Iran's strait authority said on Thursday that the Strait of Hormuz will be closed "until further notice" following an exchange of fire with the US, CNN reported.On Wednesday, President Donald Trump said on social media that Iran will have to "pay the price" for taking too long to agree to a peace deal.US forces launched airstrikes against Iran after Tehran shot down an American Apache helicopter earlier in the week. Iran reportedly struck American military bases across Jordan, Kuwait, and Bahrain.West Texas Intermediate crude oil moved down 0.9% to $89.23 a barrel before the open, while Brent decreased 1.1% to $92.08.In a Wednesday post on Truth Social, Trump said the US military executed a "secret mission" last month to support oil tankers and other commercial ships through the Strait of Hormuz. The initiative led to "more than 100 million barrels of oil" passing through the strait and into the open market, according to Trump."With no imminent deal in sight and with the global oil market tightening significantly every day, we see upside to prices, particularly if these disruptions linger into the third quarter, a period of seasonally stronger oil demand," ING Bank said in a report Wednesday.Last month's producer price index, a measure of wholesale prices, is scheduled to be released at 8:30 am ET. The report comes a day after official data showed that US annual inflation accelerated to the highest in about three years, fueling expectations that the Federal Reserve will keep interest rates on hold for some time."US inflation continues to vault higher on the back of swiftly rising energy prices and four months of closure of the Strait of Hormuz," BMO Chief US Economist Scott Anderson said in a report.The two-year Treasury yield was unchanged at 4.13% before the open, while the 10-year rate retreated 1.4 basis points to 4.53%.Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am.Shares of Oracle (ORCL) dropped 8% pre-bell as the cloud computing company said it plans to raise about $40 billion in fiscal 2027 through a mix of debt and equity financing, including its previously announced $20 billion stock sale. The firm reported fiscal fourth-quarter results above Wall Street's estimates.Adobe (ADBE), Lennar (LEN) and RH (RH) are expected to report their latest financial results after the markets close.Gold slipped 0.5% to $4,111 per troy ounce, while bitcoin advanced 1.6% to $62,833.

Research4d ago

BMO Capital Adjusts Price Target on Oracle to $220 From $200, Maintains Outperform Rating

Oracle (ORCL) has an average rating of overweight and mean price target of $256.30, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

Oracle Fourth-Quarter Results Top Estimates Amid Cloud Infrastructure Demand

Oracle's (ORCL) fiscal fourth-quarter results surpassed Wall Street's estimates, driven by rising demand for cloud infrastructure amid an artificial intelligence boom.Revenue increased 21% year-on-year to $19.18 billion during the three months through May, above the FactSet-polled consensus of $19.1 billion. Adjusted earnings per share rose to $2.11 from $1.70 a year earlier, compared with the Street's $1.96 view.Oracle's remaining performance obligations -- future commitments arising from contractual relationships -- soared 363% year-on-year to $638 billion. The metric rose $85 billion from the end of the third quarter."The large increases in Oracle's RPO and revenue are driven by the growing demand for cloud infrastructure for AI training and inferencing," the cloud computing company said late Wednesday.Cloud sales advanced 47% to $9.91 billion, driven by a 93% jump in infrastructure to $5.79 billion. The software segment edged 2% lower to $6.82 billion.Oppenheimer recently projected Oracle's cloud infrastructure revenue to grow 96% to $5.87 billion in the fourth quarter, compared with the consensus estimate that the brokerage put at 92%.Oracle plans to to raise about $40 billion via debt and equity issuances in fiscal 2027, including its previously announced $20 billion stock sale. That follows $43 billion raised in debt and $5 billion in equity financing in the just-ended year."Oracle's capital investment program supports the pursuit of unprecedented opportunities in AI cloud infrastructure," the company said Wednesday.It does not expect to issue additional debt in calendar year 2026.Shares were down 6.3% in after-hours trading. The stock gained 3.3% so far this year through Wednesday close.The company expects reported revenue to grow by 27% to 29% in the first quarter, with cloud sales seen rising 58% and 64%. Non-GAAP EPS is expected to grow between 17% and 20%, reaching $1.72 to $1.76. Markets expect adjusted EPS of $1.68 on consolidated revenue of $19.05 billion.Oracle maintained its fiscal 2027 revenue outlook at $90 billion and raised non-GAAP EPS guidance to $8.05. Analysts expect $88.78 billion and $8.02, respectively.