Oracle's (ORCL) engine just hit another gear. (00:14) Record prices. (01:20) A surprise Obamacare is on the way. (02:20)
This is an abridged transcript.
Oracle (ORCL) is up 6.3% in premarket action after ending 5.3% in the red on Thursday.
For the period ending Aug. 31, Oracle said it earned an adjusted $1.92 per share as revenue rose 30% year-over-year to come in at $19.45B. Analysts had expected adjusted earnings of $1.75 per share on $19.13B in revenue.
Cloud revenue (which includes infrastructure and applications) came in at $11.6B, up 62% year-over-year.
Oracle said it now expects at least $90B in revenue for fiscal 2027, slightly above the $89.66B analysts were expecting. The company expects $8.10 in adjusted earnings per share, above the $8.07 per share estimate.
Diesel prices surged above $6 a gallon for the first time on record, raising concerns about renewed energy-driven inflation just ahead of the fuel’s peak-demand season.
Fuel costs are climbing as crude oil prices surge following a sharp escalation in fighting between the U.S. and Iran this month. U.S. crude futures () topped $100 a barrel on Thursday for the first time since May and are up roughly 20% in September.
This creates a challenge for the Republican Party, with just over 50 days remaining before the midterm elections. Higher prices could be especially consequential in Maine, where heating oil is used by a larger share of households than anywhere else in the country, as well as in agricultural states such as Ohio, Kansas, and Iowa.
President Trump on Thursday said that nearly one million individuals who received health care coverage through Affordable Care Act exchange plans will receive .
A White House news release said those fees "accumulated a significant surplus of funds that were not used to benefit the Americans who paid these higher premiums. "
The refunds will be provided to those who did not receive any federal subsidies and only in the 30 states where exchanges are run by the federal government.
Checks will be sent out starting in October.
What’s Trending on Seeking Alpha:
Stock index futures are in the green.
Crude oil is down 2.1% at $100. Brent crude is down 2.5% at $104.
The FTSE 100 is up 0.3% and the DAX is up 0.4%.
One stock on the list: ACV Auctions (ACVA) +44% - Shares jumped after Copart (CPRT) agreed to acquire the digital dealer auction platform for $10.50 per share in cash, implying an equity value of about $1.9B.
Economic calendar:
- 8:30 am CPI: Energy costs are expected to boost CPI again in August, with an increase of 0.4% month-on-month and 3.4% year-on-year.
- 10:00 am Consumer Sentiment
