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

Here’s Why Analysts are Unhappy About Adobe’s (NASDAQ:ADBE) Figma DealSheryl ShethWall Street analysts seem to be miffed with Adobe’s recent announcement of acquiring Figma. The news was received with much pessimism, followed by a series of downgrades and price target cuts.Software giant Adobe Inc. (ADBE) jolted investors and analysts with the announcement of the $20 billion Figma buyout deal. Investors and analysts are skeptical about the huge offering price for the little-known company, especially amid the unfavorable macroeconomic backdrop. Adobe’s third-quarter results also fell short of analysts’ expectations, further demotivating them.Following the news, analysts lowered their price targets on ADBE stock, while a few even downgraded the stock’s recommendation. Similarly, investors’ p

US recession risks were soaring even before the latest FOMC meeting and “dot plot” guidance. The NY Fed recession probability indicator stands at 25%. The 10-2 years yield curve inverted for two months. Atlanta Fed Q3 GDP Nowcast closing on a negative note after consecutive Q1 and Q2 declines. But not all recessions are created equal.We face a cyclical downturn, hopefully the shortest and least damaging variety of this rare species. It will be painful but still investable and we will see a gradual U-shaped market recovery.Recession types can be broadly be divided into three. 1. Cyclical recessions are the most common. This type of recession last an average of 10 months, with 2% peak-trough GDP and 14% earnings fall.2. Shock recessions, like the 2020 global pandemic or 1973 oil cr

The Biden administration’s unprecedented package of bans on chip sales to China announced on October 7 could not have come at a worse moment for the global semiconductor industry. The damage to capital investment and R&D in the Western semiconductor industry will exceed Washington’s modest subsidies for the chip industry by a factor of five or more. The US measures won’t affect China’s sensors, satellite surveillance, military guidance and other strategic systems because the vast majority of military applications use older chips that China can produce at home. But it may postpone autonomous driving, cloud computing and other efforts to digitize China’s economy. It will also elicit an all-out Chinese effort to replace American chip-making and design technology. Capex and R&

The Dow fell more than 300 points and bond yields climb amidst warnings on global economy. U.S. stock indexes plummeted , the dollar soared and Treasury yields climbed to their highest level in over a decade on Friday after investors were hit by new signs of a global economic slowdown and Britain's plans for massive tax cuts via borrowing.The S&P 500 index fell 1.4%, the DJIA fell 327 points, and the NASDAQ composite index fell 1.4%. The three major indexes have tumbled for the fourth day in a row.Citigroup analyst Dirk Willer said in a note to clients Friday that the Fed's hawkish stance on countering soaring prices will only increase the risk of recession. Treasury bond yields rose as investors prepared for more monetary tightening. The yield on the US10Y treasury note rose to 3.775%

$Tesla Motors(TSLA)$  Tesla cuts Model Y production in China Concerns are rising in the EV market after Tesla announced it was suspending production of its Model Y SUV in its Shanghai factory. The news has raised concerns over EV demand in China as the Model Y is Tesla’s most popular vehicle in the Chinese market. The cut in production represents a 30% reduction in output and is unusual despite the time of year. Tesla has previously cut production in November by 20%.

Liz Truss resigns as prime minister Summary - BBC * Prime Minister Liz Truss has resigned as UK prime minister and leader of the Conservative Party in a statement outside Downing Street * She said she was doing so because she could not deliver the mandate on which she was elected as Tory leader * It kickstarts a contest to find the next Tory leader and PM; Jeremy Hunt rules himself out but Rishi Sunak, Boris Johnson and Penny Mordaunt are all seen as contenders * A shorter contest should produce a result by next Friday, says 1922 Committee chairman Graham Brady * He says members will have a say unless MPs unite around one candidate * Truss's departure after 45 days in office makes her the shortest-serving PM in UK history * Her premiership has been in turmoil since her mini-budget last mon

Tesla and Twitter reportedly discussed a price cut to the original $44 billion buyout deal through their representatives, but the talks were unsuccessful. Elon Musk’s representatives contacted Twitter and sought a 30% discount on the agreed price of $54.20 per share. Twitter dismissed such a request and Musk ultimately gave in and committed to completing the deal at the original price. Both parties agreed to delay Musk’s deposition. Some sides previously involved in the deal, such as Apollo Global Management, Inc. and Sixth Street Partners reportedly backed out of the deal months ago. Musk may have to sell more Tesla stock to meet the financing requirements for the Twitter deal and relying on equity financing from large investors, while banks have pledged $12.5 billion in debt financi

Risky assets are volatile, and cash has become a safe haven under the global market storm.At present, the size of US money market mutual funds has reached $4.6 trillion, while the size of ultra-short term bond funds has reached about $150 billion, and the size is still growing.Almost all asset classes, including stocks, bonds, credit and cryptocurrencies, were spared after the Fed storm, and fund managers looking for a safe haven finally found comfort in an obscure corner of the market: cash.According to Emerging Portfolio Fund Research Global, money market inflows reached $30 billion in the week ended Sept. 21, and most of them earned more than 2%, some of them 3%, 4% or more.Although risky asset prices are at multi-year lows, traders are in no hurry to place their money into these a

Meta announced the acquisition of Giphy for $315 million in early May 2020 but the UK's Competition and Markets Authority (CMA) has rejected the deal at the end of November last year, asking Meta to sell Giphy. Meta appealed in December, asking the UK Competition Court of Appeal (CAT) to reassess CMA's decision. On Tuesday, CMA made the final decision, insisting that Meta sell Giphy. Meta Platforms's acquisition of Giphy, a GIF image search engine, was again halted by UK antitrust regulators. Meta agreed to abandon the deal, while Giphy will find another buyer. The final decision marks the first time that global regulators have forced a large technology company to withdraw a completed deal. CMA said on Tuesday that given the risk of significantly reduced competition in the social media

$Apple(AAPL)$ Apple Inc (NASDAQ:AAPL) raised the prices of both its monthly and annual subscription-based content services in the United States. What Happened: The price hike means Apple TV+ and Apple Music will now cost more and so will the bundled services in the Apple One services. Apple Music subscribers will now pay $10.99 a month, compared with the $9.99 they were paying previously. TV+ subscription is now priced at $6.99 per month while earlier it cost $4.99 per month. Apple One, with Arcade gaming service, now costs $16.95 instead of $14.95. The bundle also offers cloud storage. The price change to Apple Music is due to an increase in licensing costs and payouts to artists and songwriters for the streaming of their music. 
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