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According to Fox News: US President Trump said he believes he can reach an agreement with Iran by Monday, and Iran is currently negotiating.1. Monday: ① Data: US March ISM Non-Manufacturing PMI; US March Global Supply Chain Stress Index. ② Holiday: Germany, Australia, France, Spain, New Zealand, Italy, UK, Shanghai and Shenzhen Stock Exchanges and Beijing Stock Exchanges, domestic futures exchanges, Hong Kong Stock Exchange closed for one day, northbound and southbound trading closed, Taiwan Stock Exchange closed for one day. 2. Tuesday: ① Data: France, Germany, Eurozone, UK March Services PMI final readings; Eurozone April Sentix Investor Confidence Index; US March New York Fed 1-year Inflation Expectations; China March Foreign Exchange Reserves. ② Events: US President Trump holds a joint press conference with the military in the Oval Office; a new round of price adjustments for domestic refined oil products will begin. ③ Holiday: Hong Kong Stock Exchange closed for one day, northbound and southbound trading closed. 3. Wednesday: ① Data: US API and EIA crude oil inventories for the week ending April 3; Japans February trade balance; New Zealands Reserve Bank of New Zealand interest rate decision for the week ending April 8; UKs March Halifax seasonally adjusted house price index (MoM); Frances February trade balance; Switzerlands March seasonally adjusted unemployment rate; Eurozones February PPI (MoM); Eurozones February retail sales (MoM). ② Events: EIA releases its monthly Short-Term Energy Outlook report; Chicago Fed President Goolsby, a 2027 FOMC voting member, speaks on monetary policy; Reserve Bank of New Zealand announces its interest rate decision; Reserve Bank of New Zealand Governor Brehman holds a monetary policy press conference. 4. Thursday: ① Data: US 10-year Treasury auction (ending April 8); German February seasonally adjusted industrial production (month-on-month); German February seasonally adjusted trade balance; US initial jobless claims for the week ending April 4; US February core PCE price index (year-on-year); US February personal spending (month-on-month); US Q4 final annualized GDP growth rate; US Q4 final real personal consumption expenditure growth rate; US Q4 final annualized core PCE price index (month-on-month); US February core PCE price index (month-on-month); US February wholesale sales (month-on-month); US EIA natural gas storage for the week ending April 3. ② Events: Federal Reserve releases monetary policy meeting minutes; Swiss National Bank President Schlegel delivers a speech. 5. Friday: ① Data: Chinas March CPI year-on-year rate; Germanys final March CPI month-on-month rate; Switzerlands March consumer confidence index; Canadas March employment change; US March unadjusted CPI year-on-year rate, seasonally adjusted CPI month-on-month rate, seasonally adjusted core CPI month-on-month rate, and unadjusted core CPI year-on-year rate; US April one-year inflation rate expectations (preliminary); US April University of Michigan consumer sentiment index (preliminary); US February factory orders month-on-month rate; Chinas March M2 money supply year-on-year rate (pending). 6. Saturday: ① Data: US total number of oil rigs for the week ending April 10. The China Earthquake Networks Center officially reported that a magnitude 4.5 earthquake occurred at 21:24 on April 5 in Wuqia County, Kizilsu Kirghiz Autonomous Prefecture, Xinjiang (39.62 degrees north latitude, 74.49 degrees east longitude), with a focal depth of 15 kilometers.The China Earthquake Networks Center automatically determined that an earthquake of approximately magnitude 4.4 occurred at 21:24 on April 5 near Wuqia County, Kizilsu Kirghiz Autonomous Prefecture, Xinjiang (39.62 degrees north latitude, 74.48 degrees east longitude). The final result is subject to the official rapid report.Saudi Ministry of Foreign Affairs: The Saudi Deputy Foreign Minister received the Chargé dAffaires ad interim of the French Embassy in Saudi Arabia.

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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