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On April 14, President Xi Jinping met with Spanish Prime Minister Pedro Sánchez, who was on an official visit to China, at the Great Hall of the People in Beijing. Xi Jinping emphasized that the world today is rife with chaos and faces a contest between justice and power. How a country treats international law and the international order reflects its worldview, its concept of order, its values, and its sense of responsibility. China and Spain are both principled and morally upright countries and should strengthen communication, consolidate mutual trust, and cooperate closely to oppose the worlds regression to the law of the jungle, jointly defend genuine multilateralism, uphold the international system with the United Nations at its core and the international order based on international law, promote an equitable and orderly multipolar world, inclusive economic globalization, and the building of a community with a shared future for mankind.The Ukrainian Foreign Minister stated that he emphasized the importance of unfreezing the €90 billion loan to Ukraine during a call with EU High Representative for Foreign Affairs and Security Policy Karas.On April 14, President Xi Jinping met with Abu Dhabi Crown Prince Khalid, who was visiting China, at the Great Hall of the People in Beijing. The two sides exchanged views on the current situation in the Middle East and the Gulf region. Xi Jinping emphasized Chinas principled stance of promoting peace talks and reiterated Chinas continued constructive role in this regard.April 14th, Futures News: Economies.com analysts latest view: WTI crude oil futures prices have continued to decline in recent intraday trading, having failed to break through the 50-day EMA, which acted as resistance, hindering further price increases and ending the previous rally. The price retreated below the key resistance level of $95.00, reflecting weakening bullish momentum. Current price action suggests that the market is in a corrective downward wave in the short term, while the Relative Strength Index (RSI), after previously reaching overbought levels, continues to release negative signals. These factors collectively increase the likelihood of continued downward pressure on WTI crude oil futures in the short term.April 14th, Futures News: Economies.com analysts latest view: Brent crude oil futures stabilized during the intraday trading session after recent consecutive declines, touching the key support level of $93.50. This support provided some short-term positive momentum, helping to alleviate recent selling pressure. Currently, the price is attempting to correct the clearly oversold condition on the Relative Strength Index (RSI), with initial signs of a potential bullish crossover. However, the short-term corrective downward trend remains dominant, and the price continues to trade below the 50-day EMA, keeping bearish pressure in place.

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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