Shares of Oracle (Ticker: ORCL) rose 5.1% in pre-market trading after the enterprise software giant reported fiscal fourth-quarter adjusted earnings and revenue that beat analysts’ expectations. 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 adjusted earnings for the first quarter between $1.12 and $1.16 per share, in line with analyst estimates.
Apple (AAPL) closed at a record high on Monday, up 1.6%, at $183.79. iPhone shares are up more than 41% this year. The stock has made solid gains since its Worldwide Developers Conference last week, where Apple unveiled its first entry into the augmented reality market, battery-powered glasses dubbed the Vision Pro. In pre-market trading on Tuesday, Apple stock was down 0.7%. The stock has been downgraded to Neutral from Buy at UBS
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Tesla (TSLA) rose 0.8% in pre-market trading Tuesday after closing higher on Monday for a record 12th straight session. Shares of the electric automaker have been boosted by optimism about tax breaks, its charging network, and Cybertruck. Separately, Cathie Wood’s ARK Invest reported Monday that it sold 324,511 shares of Tesla worth nearly $80 million.
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Urban Outfitters (URBN) rose 3.4% after analysts at Morgan Stanley upgraded shares of the retailer to Overweight from Equal Weight.
Bunge (BG) fell 2.9% after the farming company reached a deal to merge with privately held Viterra in a stock and cash deal worth about $8.2 billion. Bungie will assume $9.8 billion of Vitra’s debt under the terms of the deal.
Roblox (RBLX) rose 1.6% after the online gaming company debuted with a Buy rating on Canaccord.
Ulta Beauty
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(ULTA) gained 1% after Loop Capital Beauty Analysts was upgraded to Buy from Hold by Loop Capital analysts.
Home Depot (HD) will hold its investor and analyst conference Tuesday starting at 9 a.m. ET The world’s largest home improvement retailer reaffirmed its guidance for the fiscal year ahead of the conference, and the stock was up 0.7% in premarket trading.
Write to Joe Woelfel at [email protected]
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