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Cloud-related revenue at Oracle in its fiscal fourth quarter jumped 54%.
Dreamstime
Stock futures rose Tuesday as investors parsed through cooler-than-expected U.S. 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
(ticker: ORCL) shares were rising 5.6% 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 0.3%. The stock was downgraded to Neutral from Buy at
UBS
.
Tesla
(TSLA) was up 1.3% in premarket trading 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.
Manchester United
(MANU) gained 13% on a report that said Qatar’s Sheikh Jassim Bin Hamad al-Thani will soon be announced as the preferred bidder of the soccer club.
Urban Outfitters
(URBN) rose 4.6% after analysts at Morgan Stanley upgraded shares of the retailer to Overweight from Equal Weight.
Bunge
(BG) slid 2.2% after the agriculture company reached a deal to merge with privately held Viterra in a stock-and-cash transaction worth about $8.2 billion.
Bunge
will assume $9.8 billion of Viterra debt under terms of the deal.
Roblox
(RBLX) rose 3% after the online-gaming company was initiated with a Buy rating at Canaccord.
Ulta Beauty
(ULTA) gained 1.5% after the beauty retailer was upgraded to Buy from Hold by analysts at Loop Capital.
Home Depot
(HD) will be holding its investor and analyst conference on Tuesday beginning at 9 a.m. Eastern time.The world’s largest home-improvement retailer reaffirmed its fiscal-year guidance ahead of the conference and the stock was up 0.2% in premarket trading.
Write to Joe Woelfel at joseph.woelfel@barrons.com
