Best Buy Co. shares BBY, +5.81% got a near-6% boost, enough to lead the S&P 500 index’s SPX gainers, after the consumer electronics retailer reported better-than-expected second-quarter results, and repeated its call that demand for technology products will bottom this year.
Oracle Corp. shares ORCL, +3.12% hiked up 3% after the enterprise software company was upgraded at UBS, which cited the company’s “underappreciated edge” over its rivals due to its graphics-processing-unit capacity at a time of supply shortages, as well as its Oracle Cloud Infrastructure architecture.
Big Lots Inc.’s stock BIG rocketed 29% after the discount home essentials retailer reported a narrower-than-expected second-quarter loss and revenue that topped forecasts.
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