Oracle Earnings Preview: Will Cloud Drive Growth Again?
While it’s a generally a quiet time for companies reporting, tech giant Oracle Corporation-ORCL is one of the exceptions and it reports earnings for the fiscal second quarter of 2018 after the market closes on Thursday, December 14.
ORCL’s cloud division has been a consistent focus among analysts and CEO Safra Catz has attributed the company’s recent earnings and revenue growth to the results in that division. In the first quarter of fiscal 2018, ORCL reported that total cloud revenues grew 51 percent year-over-year to $1.47 billion, excluding the impacts of foreign exchange.
Oracle Earnings Preview: Cloud-Based Segments To Continue To Drive Growth
Oracle is scheduled to announce its Q2 fiscal 2018 results on Thursday, December 14. The company has reported a solid set of results in recent quarters, primarily driven by strong demand for cloud services. Oracle’s IaaS, PaaS and SaaS revenues grew at high double digits through the year, with the trend expected to continue through fiscal 2018 as well.
On the other hand, revenues from the company’s core software licenses business, hardware business and its services segment have largely stagnated, partially offsetting the surge in its cloud business.
We have a $51 price estimate for Oracle’s stock, which is about in line with the current market price. Oracle’s stock price has rallied from $38 at the beginning of the year to around $52 currently, following a strong results and positive guidance from the company.
Today's Bitcoin News
As Bitcoin Soars, Advocates Seek to Head Off New Restrictions
Bitcoin enthusiasts struck it rich this year as the cryptocurrency surged. Now they’re preparing for battle in Washington to protect their industry’s ascent.
Advocacy groups are gearing up in Washington for a lobbying push in 2018, looking to limit legislation that would subject cryptocurrencies to more regulation and change tax-reporting requirements. Organizations such as the Chamber of Digital Commerce, Coin Center Inc. and the Bitcoin Foundation say they’re concerned about stifling innovation.
Their top targets include a Senate bill that would include digital currency in an update of money-laundering laws, requiring more entities to police potentially illicit transactions.
Bitcoin fever exposes crypto-market frailties
Today's Trade of the Day | 12-14-17
BABA-Alibaba steep bearish decline sets up a new bias for order flow. Something to keep in mind is the stock price is at the first stage of a change of trend. This means I plan to risk less, to minimize the down side, until the new bearish order flow matures.
Yesterday traded into an inside day. I am looking for a breakdown and a $176 sell stop. My stop loss is on a close above $180. Initial profit target to cover the short is $164.50.
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Stock Market Sector Performance
Stocks to Trade | Thursday Edition 12-14-17
Bullish Momentum: OSTK, CAT, NKE, NKTR, CAR, TGT, AABA, FL, HFC, HTZ
Bearish Momentum: sm, sq, wll, hes, nvda
Bullish Order Flow: CAT, NKTR, CAR, HON, HCA, DVA, LB, KSS, MCD, ROST, HD, BA, VLO, DE, LYB, DG, MCK, TSCO, COST, AMZN, V, MAR, UNP, DLTR, FSLR, COF, ROKU, RIOT
Bearish Order Flow:
Double Normal Volume: VRX, FNSR, FOXA, AABA, RIOT, LITE, FOX, OSTK
Inside Days: msft, baba, wfc, orcl, fb, jnj, myl, jci, wmb, crm, oxy, apa, lvs, ma, lrcx, pep, cf, dks, urbn