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Polish Airlines will announce an order for 40 Airbus A220s on Monday and retain options for 44, sources said.June 16, Royal Bank of Canada said that as the conflict between Israel and Iran continues, the Middle Easts oil supply faces increasing risks, and energy is now "clearly a target of attack." Analysts including Helima Croft pointed out in a report that the fact that both Iraq and Israel targeted energy infrastructure on the second day of the fighting is obviously worrying. If possible, Israel may choose to attack Irans Kharg Island hub to curb the flow of crude oil, while Iranian proxies may attack Iraqs (energy) facilities. The crisis has prompted banks to examine a range of possible outcomes, including the possibility of disruption to oil transportation in the Strait of Hormuz. If regime change does become Israels core goal, the Iranian leadership may not prioritize maintaining a stable supply of crude oil. But recent market concerns about the risk of "closing the Strait of Hormuz" may be amplified.Switzerlands producer/import price index in May was -0.7% year-on-year, compared with -0.50% in the previous month.Switzerlands producer/import price index fell by -0.5% month-on-month in May, compared with 0.10% in the previous month.On June 16, UBS published a research report stating that Hong Kong developers may have passed the worst refinancing risk. As of December last year, the total amount of loans due by developers fell by about 20% year-on-year to HK$201 billion. In addition, the sharp decline in Hong Kong interbank offered rates will also drive residential transactions. However, as highly leveraged developers still hold 9,100 units for sale, pricing issues remain. The bank estimates that Hong Kong residential prices will remain stable this year, while next year, with the interest rate cuts, the recovery of rental growth and the reduction of new launches, housing prices are expected to rebound by 0 to 5%. The bank remains optimistic about Hong Kong developers, with Henderson Land Development (00012.HK) and Sun Hung Kai Properties (00016.HK) as the first choice, raising the target price by 12% and 2% to HK$29 and HK$96 respectively, while Sino Land (00083.HK)s target price has been lowered from HK$10.5 to HK$9.8.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

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Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.


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