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June 20th - Market analysts predict gold will remain volatile next week as investors await the release of the US core personal consumption expenditures (core PCE) price index for clues about the Federal Reserves interest rate path. Stephen Innes, managing partner at SPI Asset Management, stated, "With the Fed now appearing more accustomed to changing circumstances and increasingly sensitive to upcoming inflation data, every major economic data release will have an impact, but the core PCE will be a key event for both gold and interest rate markets, and next week will be highly data-dependent." Innes also noted that stronger-than-expected inflation readings could boost the dollar, push up yields, and increase the risk of gold prices testing the $4,000 per ounce level. Gold investors should prepare for increased volatility and be wary of potential further sell-offs.June 20th - According to the China Railway Shanghai Group Co., Ltd., during the recent Dragon Boat Festival holiday, the group transported 4.031 million passengers, setting a new record for single-day passenger volume during the holiday. Today, the group expects to transport 2.49 million passengers and plans to add 93 passenger trains. Since the start of the Dragon Boat Festival holiday transport on June 18th, the group has transported a total of 7.584 million passengers, averaging approximately 3.792 million passengers per day, indicating strong holiday travel demand.According to Al Arabiya satellite television, Pakistans Interior Minister will travel to Tehran to meet with Iranian officials.Conflict Status: 1. Ukraine claims Russian military attacks on civilian boats and buses resulted in 1 death and 9 injuries. 2. The Ukrainian military claims to have attacked railway bridges in Russian-controlled Crimea. 3. The Kremlin: Russian airstrikes against Ukraine will continue; Ukraines policy is not aimed at negotiations. 4. Ukrainian Deputy Prime Minister: A Russian drone strike resulted in the death of a Panamanian crew member in the Black Sea. 5. Moscow Mayor Sobyanin reports that air defense forces shot down three drones heading towards Moscow. 6. Kyiv Electric Power Company DTEK: Russian attacks over the past two days have severely damaged DTEK energy facilities in Ukraines Dnipropetrovsk region. Peace Negotiations: 1. Zelenskyy stated that Ukrainian-Russian negotiations may resume, allowing Russia to finalize specific forms. 2. The Kremlin stated that Russia is willing to engage in dialogue with Europe but will not accept ultimatums. 3. European Commission President Ursula von der Leyen: When Russia comes to the negotiating table, we need a united European message. 4. European Council President Costa: We need to support Ukraine through diplomatic means, including establishing direct communication channels with Russia. Other developments: 1. The Central Bank of Russia cut interest rates by 25 basis points, compared to market expectations of a 50 basis point cut. 2. The International Atomic Energy Agency: Repairs have begun on the main transmission lines of the Zaporizhia nuclear power plant. 3. According to sources, Russias daily gasoline production this week has decreased by a quarter compared to the average daily level in June last year.US President Trump: US Secretary of Defense Hergsay is a born fighter. He has never known what it means to admit defeat. He has an extremely tough personality and is a person who loves the military from the bottom of his heart.

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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