Stock Market Today, March 11: Oracle Surges After Earnings Beat and Upbeat Long-Term Revenue Guidance

Oracle (NYSE:ORCL), a database and cloud software provider, closed Wednesday at $163.12, up 9.18%. The stock rallied after a fiscal Q3 earnings and revenue beat, strong cloud and AI growth, and raised long-term revenue guidance. Investors are also eyeing execution on large AI data center projects.Trading volume reached 79 million shares, coming in about 162% above its three-month average of 30.1 million shares. Oracle IPO'd in 1986 and has grown 257,656% since going public.S&P 500 (SNPINDEX:^GSPC) slipped 0.10% to 6,775, while the Nasdaq Composite (NASDAQINDEX:^IXIC) edged up 0.08% to 22,716. Within enterprise software and cloud computing, industry peers Microsoft (NASDAQ:MSFT) closed at $404.88 (-0.22%) and International Business Machines (NYSE:IBM) finished at $248.87 (-0.53%), lagging Oracle’s post-earnings surge.Investors breathed a big sigh of relief after Oracle’s earnings announcement. That’s because the company has become the face of concern over spending on artificial intelligence (AI) infrastructure. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool