Oracle earnings miss, stock jumps on Google Cloud, OpenAI deals

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Julie Hyman Berita

Wall Street Estimates,Oracle Cloud Infrastructure,Openai

Oracle (ORCL) reported fourth quarter results that missed Wall Street estimates.  Adjusted earnings of $1.63 per share fell short of the expected $1.65....

Adjusted earnings of $1.63 per share fell short of the expected $1.65. Adjusted revenue of $14.29 billion missed the estimate of $14.57 billion. However, the company announced a new partnership with Google Cloud -- Wall Street’s most prominent trading desks from JPMorgan Chase & Co. to Citigroup Inc. are urging investors prepare for a stock market jolt this week after the latest inflation print and the Federal Reserve’s interest-rate decision, both of which arrive on Wednesday.

GameStop stock spiraled lower Monday after a wild week that culminated in a livestream from investor Keith Gill, also known as Roaring Kitty. It also said in a filing with the Securities and Exchange Commission on Friday that it was selling up to 75 million shares of the company’s stock. Trade in so-called meme stocks had been reinvigorated this week after a series of posts from Gill showed his position of 5 million shares and 120,000 call options that expire on June 21 with a $20 strike price.

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