Oracle Corporation (NYSE:ORCL) shares were down 10% ahead of Tuesday’s open, trading at $113.71, after the network and cloud computing company reported earnings impacted by a decline in licensing revenue.
It posted adjusted earnings of $1.19 per share on revenue of $12.45 billion, up from $1.03 per share on revenue of $11.45 billion a year earlier. Analysts had predicted earnings of $1.15 per share on revenue of $12.45 billion. Read more
WestRock (NYSE:WRK) stock was up more than 7% after its rumored merger with Dublin-headquartered packaging rival Smurfit Kappa was confirmed, with the deal pitching the value of the combined company at around $34 billion.
Shareholders in Smurfit Kappa will own 50.4% of the combined company and WestRock's 49.6%, the total consideration to WestRock investors will be equivalent to US$43.51 per share, based on Monday's closing price of Smurfit Kappa of 3,068p. At $36.70 per share in premarket Westrock stock was up 7.75%. Read more
Apple Inc (NASDAQ:AAPL) stock was steady ahead of this afternoon’s hotly anticipated iPhone product unveiling, up 0.13%.
The Cupertino, California-based consumer tech ‘giant’ is widely expected to unveil the iPhone 15 at the company’s annual fall event, which kicks off Tuesday at 10 am PT (1 pm ET).
The event, subtitled “Wonderlust” (not wanderlust) is Apple’s first since the Vision Pro was revealed at the Worldwide Developers Conference in June. The iPhone 15 is widely expected, with some predicting a revamped larger iPhone Pro model called the iPhone 15 Ultra. Read more
Google parent Alphabet Inc (NASDAQ:GOOG) was on the back foot, slightly, as the first phase of its legal challenge kicks off today.
The suit, the biggest tech antitrust suit brought by the US Justice Department since it came after Microsoft in 1998, will argue that Google broke the law in its path to becoming the dominant force it is today.
In New York, Alphabet was down 0.26% at $136.56. Read more
Casey's General Stores Inc (NASDAQ:CASY) shares were up 2.4% in premarket after the chain of convenience stores reported better-than-expected first quarter fiscal 2024 earnings.
For the three months ended July 31, 2023, the company posted earnings per share of $4.52, up 11% year-over-year from $4.09 and ahead of the Street estimate of $3.36, according to Zacks Consensus Estimate. Read more
Skillsoft Corp (NYSE:SKIL) stock added just over 2% as its second quarter revenue totaled $141 million, surpassing the consensus analyst forecast of $139.88 million.
The digital learning platform’s loss per share, meanwhile, improved to $0.20 from a $0.74 deficit a year earlier, but fell short of the $0.18 loss penciled in by analysts. Read more
Acelyrin (NASDAQ:SLRN) collapsed, down some 58% ahead of Tuesday’s open, after the company revealed the failure of its clinical trial which attempted to reduce symptoms of inflammatory skin disease.
The stock traded at its lowest point in its short history, following its May 2023 IPO which raised $540 million from investors who were effectively betting on the success of trials like this.
Acelyrin noted that it retains plenty of funds, with some $823 million at the end of June, and its attentions will turn to the next clinical work of a potential arthritis drug - due to start early next year.