In Tuesday trading, shares of WSI Industries Inc. (WSCI, Financial) fell on the heels of the company reporting its financial results for the second quarter. The company posted adjusted earnings per share of 18 cents. The company’s revenue of $8.55 million was also higher than the figure reported a year earlier by 35.5%.
The recreational powersports sales increased 27% and the sales in the diversified group, which includes energy, aerospace and defense, and industrial markets, increased 92%.Â
WSI Industries also announced that its board of directors has declared a quarterly dividend of 4 cents per share.
Oracle Corp. (ORCL, Financial) stock fell more than 8% after the company reported third quarter earnings per share of 83 cents on revenue of $9.78 billion. Oracle’s revenue rose by 5.5% year-over-year. Cloud and On-Premise Software Revenues inched up 8% to $8.0 billion, Cloud Software as a Service (SaaS) revenues were up 33% to $1.2 billion, Cloud Platform as a Service (PaaS) plus Infrastructure as a Service (IaaS) revenues were up 28% to $415 million and Total Cloud Revenues were up 32% to $1.6 billion.
Looking ahead, Oracle said it expected to grow its cloud revenue by 19-23%.
On the other hand, BlackBerry Ltd. (BB, Financial) gained ground on news about a strategic partnership with giant Microsoft (MSFT, Financial). The deal will combine cloud and productivity products from Microsoft with the strength in mobility and security of BlackBerry. As part of it, the Canadian software maker's platform, BlackBerry Enterprise Bridge, will allow businesses to securely access Microsoft's apps such as Excel, Word and PowerPoint on smartphones.
Disclosure: The author holds no position in any stocks mentioned.
