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Cloud-related revenue at Oracle in its fiscal fourth quarter jumped 54%.
Dreamstime
Stock futures traded slightly higher Tuesday ahead of U.S. consumer inflation data. On Monday, the
S&P 500
and
Nasdaq Composite
closed at their highest levels since April 2022.
These stocks were poised to make moves Tuesday:
Oracle
(ORCL) shares were rising 4.3% in premarket trading after the enterprise software giant reported fiscal fourth-quarter adjusted earnings and revenue that topped analysts’ forecasts. Cloud-related revenue in the period jumped 54% to $4.4 billion. The company said it expects fiscal first-quarter sales to rise 8% to 10%, and first-quarter adjusted earnings of between $1.12 and $1.16 a share, in line with analysts’ estimates.
Apple
(AAPL) closed at a record high on Monday, rising 1.6% to $183.79. Shares of the iPhone maker have risen more than 41% this year. The stock has put in solid gains since last week’s Worldwide Developers Conference, where
Apple
unveiled its first entrance into the augmented reality market, battery-powered goggles dubbed Vision Pro. In premarket trading Tuesday, Apple was down 0.8%. The stock was downgraded to Neutral from Buy at
UBS
.
Tesla
(TSLA) was up 1% in premarket trading Tuesday after closing higher Monday for a record 12th consecutive session. Shares of the electric-vehicle maker have been boosted by optimism over tax credits, its charging network, and the Cybertruck. Separately, Cathie Wood’s ARK Invest reported Monday that it sold 324,511 shares of
Tesla
worth roughly $80 million.
Home Depot
(HD) will be holding its investor and analyst conference on Tuesday beginning at 9 am Eastern time. Shares of the world’s largest home-improvement retailer were up 0.3% in premarket trading.
Activision Blizzard
(ATVI) shares fell slightly in premarket trading, while
Microsoft
(MSFT) was up 0.9% after the Federal Trade Commission on Monday said it was requesting an emergency court order to block
Microsoft
from closing its $69 billion acquisition of
Activision Blizzard
.
Activision declined 0.8% on Monday, and Microsoft rose 1.6%.
Write to Joe Woelfel at [email protected]
Source: https://www.barrons.com/articles/stock-market-movers-f7a0b521?siteid=yhoof2&yptr=yahoo