Oracle stock up on impressive cloud revenue $Oracle(ORCL)$ jumped 14% after-hours following the announcement of mixed financial results and a quarterly cash dividend of 40 cents per share. This surge was propelled by substantial new cloud contracts and AI demand, with Oracle CEO Safra Catz highlighting a record 29% growth in total remaining performance obligations, exceeding $80 billion. ORCL also reported a whopping $12.3 billion in free cash flow for the past twelve . Oracle stock has now gained roughly 50% over the past twelve months.  Oracle Q3 earnings snapshot *Earned $2.4 billion versus the year-ago $1.89 billion *Per-share earnings also climbed from 68 to 85 cents *Adjusted EPS printed at $1.41 as per the earnings report *Revenue jump

Good news on the economy remains bad news for Wall Street. At the starts of the week, the market rebounded on Monday and Tuesday until then Friday’s September jobs report released spooked investors into selloff. The "bad news is good news" mentality prevailed in the market with every disappointing news to be accompanied by a rally. Recently released data showed that US manufacturing activity slowed in September and job vacancies fell sharply in August, raising hopes that a weaker economy and a slowdown in the labor market could mean slower inflation and expected fewer Fed interest rate increases. The S & P 500 rose 5.7% on Monday and Tuesday, its biggest 2-day gain since April 2020. Then, the following hawkish comments from Fed officials, strong service sector data and Friday's j

$Qualcomm(QCOM)$Qualcomm - winning the digital future of automotive. Qualcomm’s first auto investor day offers signs the industry is embracing its tech platform. Qualcomm told investors at Automotive Investor Day on September 22, 2022 has increased its automative design pipeline from $19 billion to $30 billion In just the past two months for its “digital chassis” platform based on the company’s Snapdragon. Qualcomm's first automotive-investor day has brought attention to the company for something other than smartphones. The chip designer has diversified into non-smartphone products. While much of its previous effort has focused on the metaverse, Qualcomm is now making its mark on the automotive sector.Qualcomm also estimated the tot

FedEx Quarterly Sales Fall 10% as Shipping Struggles Continue FedEx on Tuesday posted its third-straight drop in quarterly revenue amid weaker demand after a pandemic-fueled boom in business. The company is in the early stages of combining its Express and Ground delivery networks into a single business to help cut costs. It has trimmed flight hours and parked aircraft. It also has sought to charge higher shipping rates to offset a decline in the number of packages shipped. FedEx executives aren't expecting a strong turnaround in business soon. Inflation, higher interest rates, and a slowdown in global trade are likely to hinder parcel volumes and revenue growth, Chief Executive Raj Subramaniam told analysts on a conference call. With the pandemic in the rearview mirror, consumers have bee

Meta Platforms' Facebook must get user consent before sending some personalized ads, the European Union's top court ruled, a surprise element in a broader court decision in which it sided with German competition regulators in limiting how the company can use data. The personalized-ad element of the decision issued Tuesday by the EU's Court of Justice throws a potential wrench in Meta's longstanding legal battle to protect its core business model, which is based on its ability to send users targeted adverts. The ruling was read out in Luxembourg, but hasn't been published yet. Depending on that ruling's wording and implementation, Facebook could be compelled to ask its users to opt in to ads that are based on how they interact with it and other Meta apps. Such interactions could include a

Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of England, as confidence evaporated in Britain's plan to borrow its way out of trouble, with spooked investors piling in to US dollars.The British pound's sterling drop helped lift the safe-haven U.S. dollar to a new two-decade peak while the euro hit a fresh two-decade low against the greenback.Broadening worry that high interest rates will hurt Asia's currencies and equities too, with exporters from Japanese carmakers to Australian miners hit hard.The pound plunged nearly 5% at one point to US$1.0327, breaking below 1985 lows. Moves were exacerbated by thinner liquidity in the Asia session, but even after stumbling back to US$1.05 the currency is still down some 7% in just two sessio

The Federal Trade Commission sued Amazon.com on Wednesday, alleging the retail giant worked for years to enroll consumers without consent into Amazon Prime and made it difficult to cancel their subscriptions to the program. The FTC's complaint, filed in federal court in Seattle, alleged that Amazon has duped millions of consumers into enrolling in Amazon Prime, a recurring $139 annual subscription service with more than 200 million members worldwide that has helped Amazon become an integral part of many American households' shopping habits. The complaint is the culmination of an investigation that began in March 2021. An Amazon spokesman dismissed the FTC's allegations as "false on the facts and the law." The complaint alleged that Amazon used "manipulative, coercive, or deceptive user int

"UK's Truss sacrifices finance minister, scraps tax plan in fight to survive" British Prime Minister Liz Truss fired her finance minister Kwasi Kwarteng on Friday, replacing him with former foreign minister Jeremy Hunt, and scrapped part of her big unfunded tax cut plans that had sparked market turmoil. The response from markets was so ferocious that the Bank of England intervened to prevent pension funds from being caught up in the chaos, as borrowing and mortgage costs surged where millions are facing a cost of living crisis. But markets are far from convinced. A major reshuffle and scrapping of a key tax-cutting wasn't enough to placate markets with the pound and government bonds continuing to sell off. Kwarteng’s departure comes after a month in the job and 3 weeks after he announced a

China's central bank has set its sights on streamlining overseas investors' access to yuan-denominated financial assets while seeking local currency settlements with ASEAN and neighboring countries, as part of a broad push to globalize the Chinese currency. Reckoning advances in the yuan's gradual globalization over the years as the Chinese economy has risen to global prominence, experts noted that a more internationalized yuan resonates with a growing call for de-dollarization efforts in the world.  The People's Bank of China (PBC), the country's central bank, penned a post on the bank's WeChat account on Sunday, outlining the it’s plans for a global yuan. The central bank eyed pushing the financial market to shift toward a comprehensive and institutional opening and improving the li