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Market news: Iran launched missiles at Haifa and surrounding areas in Israel.March 18 - Iranian intelligence has reportedly arrested four spies working for the United States in Khuzestan and West Azerbaijan provinces.On March 18th, E Fund Management Co., Ltd. issued an announcement stating that the secondary market trading price of its E Fund Crude Oil Securities Investment Fund (QDII) Class A RMB shares was significantly higher than its net asset value (NAV). On March 16th, the NAV per share was 1.6414 yuan, while as of March 18th, the closing price on the secondary market was 1.896 yuan. Investors are reminded to pay attention to the premium risk, and blindly buying at a high premium may result in losses. If the premium does not effectively decrease, the fund may apply for a temporary suspension of trading. This fund primarily invests in overseas crude oil ETFs, which carry high risk. Currently, it is operating normally, and there is no undisclosed material information.Omdia: The semiconductor market will surpass $830 billion by 2025, driven by demand for artificial intelligence and growth across various segments.On March 18th, Harvest Crude Oil LOF issued an announcement stating that its secondary market trading price has recently exceeded its net asset value per unit, resulting in a significant premium. If the premium does not effectively decrease by March 19th, the fund reserves the right to take measures such as temporary trading halts during trading hours. The fund primarily invests in high-risk crude oil-related public funds, and subscriptions have been suspended since February 3rd. Currently, the fund is operating normally and there is no undisclosed material information. Investors are reminded to pay attention to the premium risk and invest prudently.

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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