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On May 15, according to the Islamic Republic News Agency (IRNA), Iranian Foreign Minister Araqchi met with Indian Prime Minister Modi in New Delhi, India, on Thursday to discuss the war situation and regional security issues. Araqchi briefed Modi on the current conflict and its impact on the region. Modi emphasized the importance of regional stability and security and stated that India is ready to support regional security efforts.Williams, a permanent voting member of the FOMC and president of the New York Federal Reserve, will participate in a discussion in ten minutes.May 15 - According to CNN, amid escalating tensions between the US and Cuba and the collapse of Cubas energy system, the Cuban government stated that CIA Director John Ratcliffe led a US delegation to Havana on Thursday for talks with Cuban government officials.On May 15th, the U.S. House of Representatives narrowly rejected a Democratic-led resolution aimed at halting war against Iran. The resolution would have required a cessation of hostilities unless authorized by Congress. The vote was 212-212, failing to secure a simple majority. This was the third time this year that the House had voted on a war powers resolution against Iran, and the first since the 60-day war deadline expired on May 1st. According to regulations, Trump was required to explain the war to Congress before that deadline. Trump had previously declared that the ceasefire had "ended" hostilities against Iran. The margin of victory in each vote has been narrowing. The previous vote was 213-214, with one senator casting an "attendance vote." The Senate vote was similarly tight. On Wednesday, the Senate blocked a war powers resolution by a vote of 50-49, with three Republican senators and all but one Democratic senator voting in favor of the measure.According to CNBC, sources say SpaceXs initial public offering (IPO) prospectus could be released as early as next week.

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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