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Omar Venerio
Omar Venerio
Articles (1617) 

Global Markets Go Green on Thursday

Oracle falls on quarterly results

U.S. stocks were in the green on Thursday on positive developments between the U.S. and China. The Dow Jones Industrial Average gained 0.53% to 27,280, the S&P 500 Index rose 0.57% to 3,018 and the NasdaqComposite Index swelled 0.64% to 8,221.

Shares of Oracle Corp. (NYSE:ORCLfell almost4% after announcing first-quarter results. The company posted earnings of 81 cents per share on $9.22 billion in revenue. The company beat earnings estimates by 63 cents, but fell $70 million short of revenue expectations.

During the quarter, the GAAP operating income rose 4% to $2.9 billion and GAAP operating margin was 31%. The non-GAAP operating income grew 2% to $3.8 billion and the non-GAAP operating margin was 42%.

Further, the board of directors increased the share repurchase authorization by $15 billion and declared a quarterly dividend of 24 cents per share.

During the quarter ended June 30, Ken Fisher (Trades, Portfolio) boosted his stake by 4% to 15,567,402 shares. On the other hand, Robert Olstein reduced his holding by 20% to 89,000 and Richard Pzena curbed his position by 8% to 7,911,165 shares.

Gainers

Losers

  • DXC Technology Co. (NYSE:DXC) -12.5%
  • Cimarex Energy Co. (NYSE:XEC) -4.2%
  • Helmerich and Payne Inc. (NYSE:HP) -3.9%
  • National Oilwell Varco Inc. (NYSE:NOV) -3.7%
  • Concho Resources Inc. (NYSE:CXO) -2.7%

Global markets

The main European stock markets traded in the green. The U.K.'s FTSE 100 advanced 0.09%, France's CAC 40 swelled 0.44%, Germany's Dax rose0.41% and Spain's Ibex 35 gained 0.25%.

In Asia, Japan's Nikkei 225 gained 0.75%, India’s BSE Sensex fell 0.45%, Hong Kong's Hang Seng slid 0.26% and China's Shanghai Composite inched up 0.75%.

Disclosure:The author holds no positions in any stocks mentioned.

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About the author:

Omar Venerio
Omar Venerio is a capital markets, derivatives, corporate finance and financial management professor and Area Head of Finance. He is passionate about the stock market and providing independent fundamental research and hedge fund and insider trading-focused investigation.

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