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Futures News, September 18th, Economies.com analysts latest view today: Spot gold prices fell in the previous trading day, having encountered strong resistance at the key $3,700 mark and then retreated again. Previously, spot gold prices had successfully recovered from oversold conditions on the relative strength index, but then negative superposition signals appeared on technical indicators, increasing downward pressure on gold prices and opening up room for further declines.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: We will establish a people-friendly credit system to assist low-income groups.According to Economies.com analysts latest view on September 18th, WTI crude oil futures prices fell during the previous trading day, primarily driven by a negative signal from the relative strength index (RSI). This pullback is likely to trigger a new low, which could serve as a foundation for a subsequent resumption of upward momentum. This current trend represents a bullish corrective move that will dominate the market in the short term.Japanese Chief Cabinet Secretary Yoshimasa Hayashi: We hope to take measures to achieve a sustained 1% increase in real wages.Futures News, September 18th. Economies.com analysts latest view today: Brent crude oil futures prices rose during the previous trading day, following a period of decline, as the market seeks higher lows to establish a new upward base. Positive pressure from prices consistently trading above the 50-day moving average (EMA) suggests a short-term bullish corrective trend is dominant, with prices trading along the support trendline. Furthermore, the relative strength index (RSI) has fallen to extremely oversold levels relative to price action, suggesting a potential weakening of bearish momentum.

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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