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European Council: Urges Afghanistan to engage in dialogue with Pakistan.European Council: The EU reiterates that Afghan territory must not be used to threaten or attack other countries.The European Council called on all parties to immediately de-escalate the situation and cease hostilities following a sharp increase in violence in Afghanistan and Pakistan.Gaza Situation: 1. Market news: Gazas civil defense department reports at least 5 deaths from Israeli airstrikes. 2. The Israeli military claims to have killed several militants in southern Gaza. Iran Situation: 1. The Iranian military says it will respond "devastatingly" to US aggression. 2. Omans Foreign Minister: Iran has agreed not to possess "nuclear materials capable of making nuclear bombs." 3. Trump: Dissatisfied with negotiations with Iran. 4. The US aircraft carrier USS Ford arrives in Israel. 5. Chairman of the Iranian Parliaments Security and Foreign Policy Committee: Negotiations are limited to uranium enrichment; Iran will not relinquish its due rights. 6. Market news: All US Air Force refueling aircraft have withdrawn from Al Udeid Air Base in Qatar. 7. According to CNN: There is no intelligence indicating that Iran is planning to develop an intercontinental ballistic missile capable of striking the United States. 8. Istanbul Airport data shows that three flights from Istanbul to Tehran, Iran, were canceled on Friday. 9. According to the Wall Street Journal: Local diplomats revealed that foreign embassies in Israel have developed contingency plans to deal with Iranian attacks. 10. Trump revealed that the US and Iran will continue negotiations and warned that "sometimes we have to fight." Trump reiterated that Iran cannot possess nuclear weapons. 11. Omans Foreign Minister met with the US Vice President, stating that US-Iran negotiations had made "unprecedented progress." 12. Multiple countries issued evacuation warnings from the Middle East: ① The US State Department ordered non-essential diplomats to evacuate Israel and Iraq. ② The US Ambassador to Israel warned the mission to leave Israel today. ③ The Chinese Foreign Ministry reminded Chinese citizens not to travel to Iran. ④ The Kazakh Foreign Ministry urged its citizens to leave Iran and temporarily avoid traveling to the country. ⑤ Italy urged its citizens to leave Iran and remain vigilant throughout the Middle East. ⑥ The British Foreign Office advised against travel to Israel and the Palestinian territories except for essential travel. ⑦ Greece advised its citizens to avoid travel to Iran and the Israeli-Palestinian region. ⑧ The French Foreign Ministry advised French citizens not to travel to Israel, Jerusalem, and the West Bank. Other: 1. The Afghan government claimed that Pakistani airstrikes hit Kabul and other areas. 2. Pakistani state television claimed that several Taliban strongholds were destroyed in the attacks. 3. The US State Department ordered non-essential diplomats to evacuate Israel. 4. Saudi Arabias Al Arabiya television, citing security sources, reported on the 27th that a large number of American citizens left Iraq via Baghdad International Airport in the past 24 hours. 5. Maersk diverted some of its ships to routes south of Africa. 6. The U.S. State Department announced that Secretary of State Marco Rubio will visit Israel from March 2nd to 3rd to discuss issues related to Iran, Lebanon, and Gaza.According to the Islamic Republic News Agency (IRNA), Iranian Foreign Minister Araqchi and Saudi Foreign Minister held multiple phone calls to discuss the latest situation.

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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