{"id":71013,"date":"2023-09-12T09:03:41","date_gmt":"2023-09-12T13:03:41","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=71013"},"modified":"2023-09-12T09:03:41","modified_gmt":"2023-09-12T13:03:41","slug":"coffee-with-greta-oracle-drags","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/09\/12\/coffee-with-greta-oracle-drags\/","title":{"rendered":"Coffee With Greta: Oracle Drags"},"content":{"rendered":"

Register now<\/a> for tomorrow's free trading Q&A on LinkedIn with me and JR Romero!<\/strong><\/p>\n

DJIA Futures: <\/b>-38 (-0.1%)<\/span><\/p>\n

SPX Futures: <\/b>-11 (-0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-47 (-0.3%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are falling as high oil prices pressure the market and Oracle drags on tech.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Oracle Tumbles<\/span><\/h2>\n

Oracle <\/b>(ORCL) shares are dropping 9.5% ahead of the open after fiscal Q1 revenue missed expectations.\u00a0<\/span><\/p>\n

Here\u2019s how the database software maker\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

    \n
  • Adjusted EPS: $1.19 vs $1.15 expected<\/span><\/li>\n
  • Revenue: $12.45 billion vs $12.47 billion expected<\/span><\/li>\n<\/ul>\n

    Overall revenue grew 9% year over year.<\/span><\/p>\n

    Oracle\u2019s cloud services and license support segment saw revenue jump 13% from a year ago to $9.55 billion vs $9.44 billion expected.\u00a0<\/span><\/p>\n

    But the cloud license and on-premises license segment revenue dropped 10% to $809 million vs $892.7 million expected.\u00a0<\/span><\/p>\n

    Hardware revenue fell 6% year over year to $714 million vs $739.6 million expected.\u00a0<\/span><\/p>\n

    And cloud infrastructure revenue totaled $1.5 billion, up 66% from a year ago but slowing from the 76% growth in fiscal Q4.<\/span><\/p>\n

    Oracle\u2019s forecast was also weak.<\/span><\/p>\n

    The company expects fiscal Q2 adjusted EPS of $1.30 to $1.34 and 5% to 7% revenue growth.\u00a0<\/span><\/p>\n

    Analysts were calling for adjusted EPS of $1.33 and 8% revenue growth.\u00a0<\/span><\/p>\n

    Oil Prices Jump<\/span><\/h2>\n

    Higher oil prices are putting pressure on the market this morning.\u00a0<\/span><\/p>\n

    West Texas Intermediate crude futures are up 1.5% to over $88.50 bbl while Brent crude futures are up 1.1% to over $91.60 bbl.\u00a0<\/span><\/p>\n

    Brent prices topped $90 last week for the first time in 10 months after Saudi Arabia and Russia extended production cuts until the end of the year.\u00a0<\/span><\/p>\n

    Now investors are awaiting new data on U.S. crude stockpiles later today.<\/span><\/p>\n

    A preliminary Reuters poll showed expectations for U.S. inventories to fall by about 2 million barrels.\u00a0<\/span><\/p>\n

    The International Energy Agency and OPEC will also release monthly reports later this week.<\/span><\/p>\n

    Apple Rises Ahead Of iPhone Event<\/span><\/h2>\n

    Apple <\/b>(AAPL) shares are up 0.4% in premarket trade ahead of the company\u2019s iPhone launch event later today.\u00a0<\/span><\/p>\n

    The event is set to begin at 1:00 p.m. ET at its headquarters in Cupertino, California.\u00a0<\/span><\/p>\n

    Apple is expected to unveil four new iPhone 15 models at this event.\u00a0<\/span><\/p>\n

    Like the iPhone 14, the new phones are expected to include two sizes of the iPhone 15 and two sizes of the iPhone 15 Pro.<\/span><\/p>\n

    The biggest change expected at this year\u2019s event is Apple switching to a USB-C charging port on its phones from the Lightning port on older phones.<\/span><\/p>\n

    That change is required by new regulations in Europe.<\/span><\/p>\n

    Other announcements at the event are expected to include a new Apple Watch and iOS 17.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

    Register now for tomorrow’s free trading Q&A on LinkedIn with me and JR Romero! DJIA Futures: -38 (-0.1%) SPX Futures: -11 (-0.2%) NASDAQ Futures: -47 (-0.3%) Good morning friends! Futures are falling as high oil prices pressure the market and Oracle drags on tech. Let\u2019s get right to it! Oracle Tumbles Oracle (ORCL) shares are dropping 9.5% ahead of the open after fiscal Q1 revenue missed expectations.\u00a0 Here\u2019s how the database software maker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.19 vs $1.15 expected Revenue: $12.45 billion vs $12.47 billion expected Overall revenue grew 9% year over year. Oracle\u2019s cloud services and license support segment saw revenue jump 13% from a year ago to $9.55 billion vs $9.44 billion expected.\u00a0 But the cloud license and on-premises license segment revenue dropped 10% to $809 million vs $892.7 million expected.\u00a0 Hardware revenue fell 6% year over year to $714 million vs $739.6 million expected.\u00a0 And cloud infrastructure revenue totaled $1.5 billion, up 66% from a year ago but slowing from the 76% growth in fiscal Q4. Oracle\u2019s forecast was also weak. The company expects fiscal Q2 adjusted EPS of $1.30 to $1.34 and 5% to 7% revenue growth.\u00a0 Analysts were calling for adjusted EPS of $1.33 and 8% revenue growth.\u00a0 Oil Prices Jump Higher oil prices are putting pressure on the market this morning.\u00a0 West Texas Intermediate crude futures are up 1.5% to over $88.50 bbl while Brent crude futures are up 1.1% to over $91.60 bbl.\u00a0 Brent prices topped $90 last week for the first time in 10 months after Saudi Arabia and Russia extended production cuts until the end of the year.\u00a0 Now investors are awaiting new data on U.S. crude stockpiles later today. A preliminary Reuters poll showed expectations for U.S. inventories to fall by about 2 million barrels.\u00a0 The International Energy Agency and OPEC will also release monthly reports later this week. Apple Rises Ahead Of iPhone Event Apple (AAPL) shares are up 0.4% in premarket trade ahead of the company\u2019s iPhone launch event later today.\u00a0 The event is set to begin at 1:00 p.m. ET at its headquarters in Cupertino, California.\u00a0 Apple is expected to unveil four new iPhone 15 models at this event.\u00a0 Like the iPhone 14, the new phones are expected to include two sizes of the iPhone 15 and two sizes of the iPhone 15 Pro. The biggest change expected at this year\u2019s event is Apple switching to a USB-C charging port on its phones from the Lightning port on older phones. That change is required by new regulations in Europe. Other announcements at the event are expected to include a new Apple Watch and iOS 17.<\/p>\n","protected":false},"author":41,"featured_media":71023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-71013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=71013"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71013\/revisions"}],"predecessor-version":[{"id":71024,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/71013\/revisions\/71024"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/71023"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=71013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=71013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=71013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}