reported fiscal fourth-quarter adjusted earnings of $1.63 a share, below analysts’ expectations of $1.65, but the stock soared 13% after the software company issued upbeat guidance. CEO Safra Catz said in a press release that “each successive quarter should grow faster than the previous quarter—as [
Cloud Infrastructure] capacity begins to catch up with demand.” Catz said Oracle signed more than 30 artificial-intelligence sales contracts for more than $12.5 billion in the fourth quarter, including one with ChatGPT developer OpenAI.
shares rose 2.9% on Wednesday to $213.07, which is its second record close in two days. It briefly reclaimed its status from
as the most valuable company by market capitalization. The stock finished at a record high on Tuesday, which was its first record close since December 2023. Driving the stock higher has been
Apple
’s
AI strategy, which was announced Monday at the tech giant’s Worldwide Developers Conference.
stock jumped 5.4%. Shares of the building-materials supplier got a lift from falling bond yields and hopes of interest-rate cuts following the latest inflation reading.
Advertisement – Scroll to Continue
stock was down 17% after surging 23% on Tuesday. The stock had been volatile during the session. It traded higher after
said Tuesday it raised $2.14 billion from a stock sale.
stock rose 17% after the convenience-store chain reported fiscal fourth-quarter revenue that was better than expected and after saying it anticipates inside same-store sales growth of 3% to 5% in the current fiscal year.
Shares of
the parent company of Terminix, rose nearly 14% after a report that activist investor Nelson Peltz’s Trian Fund has become one of the company’s top 10 shareholders.
Rubrik
,
the data security software company, reported better-than-expected results in its first quarter as a public company, and issued guidance for annual recurring revenue in fiscal 2025 that topped estimates. The stock, however, was down 8.9%.
stock was up 3.9% to $23.47 after analysts at Barclays upgraded shares of the marketing-automation company to Overweight from Equal Weight and raised the price target to $29 from $25.
stock was up 2.4% ahead of fiscal-second-quarter earnings scheduled for after the closing bell Wednesday.
Advertisement – Scroll to Continue
Write to Joe Woelfel at joseph.woelfel@barrons.com
…
Read More: These Stocks Are Moving the Most Today: Oracle, Apple, GameStop, and More
