Technology

Oracle Q2 Adj $1.34 Beats $1.32 Estimate, Sales $12.94B Miss $13.05B Estimate

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Oracle (NYSE:ORCL) reported quarterly earnings of $1.34 per share which beat the analyst consensus estimate of $1.32 by 1.52 percent. This is a 10.74 percent increase over earnings of $1.21 per share from the same period last year. The company reported quarterly sales of $12.94 billion which missed the analyst consensus estimate of $13.05 billion by 0.82 percent. This is a 5.43 percent increase over sales of $12.28 billion the same period last year.

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Oracle Fiscal Q2 Non-GAAP Earnings, Revenue Rise

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Oracle (ORCL) reported fiscal Q2 non-GAAP earnings Monday of $1.34 per diluted share, up from $1.21 a year earlier. Analysts polled by Capital IQ expected $1.33. Revenue for the quarter ended Nov. 30 was $12.94 billion, up from $12.28 billion a year earlier. Analysts surveyed by Capital IQ expected $13.05 billion. Oracle maintained a quarterly dividend of $0.40 a share, payable on Jan. 25 to shareholders as of Jan. 11.

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CFRA Maintains Hold Recommendation On Shares Of Oracle Corporation

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target at $130, on P/E of 19.8x our CY 25 EPS estimate of $6.57, above historical but below peers. We hold our FY 24 (May) EPS at $5.54 and FY 25 at $6.29. ORCL posts Nov-Q EPS of $1.34 vs. $1.21, beating the $1.33 consensus. Sales rose 5%, missing expectations, as growth from cloud services and license support (+12% a slight miss; 74% of revenue) was partly offset by declines from cloud and on-premises licenses (-18%), Services (-2%), and hardware (-11%). We positively view cloud growth of 25%, with infrastructure (IaaS) +52% and SaaS +15%. We believe OCI (Oracle Cloud Infrastructure) is poised to see demand surge from greater GenAI adoption, with plans to build 100 additional cloud data centers (also expanding 66

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Dell Technologies Set For Growth With Optimism In PC Demand, AI Server Prospects, Citi Analyst Says

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Citi analyst Asiya Merchant reiterated a Buy rating on Dell Technologies Inc (NYSE:DELL). With Dell’s stock significantly outperforming peers and trading at a modest valuation premium to peers, investors were skeptical as to whether near-term commentary could sustain share price momentum, the analyst shared. PC commentary intra-quarter contained upside regarding improving Y/Y trends and profitability, while enterprise infrastructure spending remained tempered but stable. Dell’s second-half implied guide already baked in slight, albeit sub-seasonal improvements, reflecting a more prudent conservative stance. Ahead of CY24, Merchant was optimistic about PC demand recovery, resumption in enterprise/compute/storage in the second half of FY24, and Dell’s AI server opportunities that have the potential to accelerate once GPU supply constraints lift. Dell remained exceptionally well positioned in its core markets versus its peers. Given the company’s strong discipline towards operational expense management, there was improving FCF generation (as PC demand recovers, working capital improves) and increased emphasis on shareholder returns. S&P

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Buy Now Pay Later Helps Drive Online Holiday Spending, Adobe Says

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Buy Now Pay Later is helping drive strong online spending so far this holiday season, Adobe Analytics says. BNPL spending on Saturday and Sunday rose 20% from last year, and is expected to rise nearly 19% to $782 million on Cyber Monday. “An uncertain demand environment pushed retailers to deliver big discounts this season, while also fortifying their e-commerce services with flexible payment methods,” says Vivek Pandya, a lead analyst at Adobe Digital Insights. “Consumers have taken note and spent at record rates during the big shopping days, despite dealing with rising costs in other parts of their lives.”

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Analog Devices Entering Later Stages of Downcycle, Morgan Stanley Says

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Analog Devices (ADI) is entering the later stages of a downcycle, with the severity of the current downturn pointing to a bottom in Q2 of next year, Morgan Stanley said in a note emailed Friday. “We are not yet at bottom — but it is in sight: current analog/MCU downcycle is expected to bottom in May 2024,” the investment bank said, citing a 24-month peak to trough view. The current cycle peaked in May 2022, according to analysts. Morgan Stanley said Analog Devices has outperformed its peers in the past three downcycles in terms of gross margin, adding the company’s forward earnings are de-risked and the company has relatively higher ASP products that should limit direct competition with Chinese products. Analog Devices’ quarterly results, expected on Nov. 21, “will be mixed at best,” the investment bank said. “We revise down estimates, and now forecast a 23% peak-to-trough revenue decline, with

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Analog Devices Scores an Upgrade. A Bottom Is Close for the Chip Stock, Says Analyst — Barrons.com

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By Tae Kim Analog Devices stock is an attractive buying opportunity because the worst of the downturn in chip demand is nearly over, according to Morgan Stanley. On Thursday, analyst Joseph Moore raised his rating for Analog Devices shares (ticker: ADI) to Overweight from Equal-weight. He increased his price target for the stock to $225 from $176. “We are not yet at bottom — but it is in sight,” he wrote. “The report next week will be mixed at best, but has potential to be the ‘last cut’”. Analog Devices is slated to report its fiscal fourth-quarter earnings on Tuesday. The stock was up 1.5% to $182.55 in midday trading Friday. The analyst said that six out of the past eight chip downturns lasted 22 to 26 months. He believes Analog Devices chip shipments peaked in May 2022 before entering the current slide, suggesting the bottom may come around May

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No Reason to Shift Positive View on Nvidia Ahead of Q3, Wedbush Says

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Nvidia (NVDA) is still facing supply constrained amid strong demand as the company is set to report its Q3 results on Nov. 21, Wedbush said in a Friday note. “With NVDA still seemingly supply constrained through at least CQ2’24 despite a seemingly significant…ramp, and with constraints potentially lasting well beyond that point (depending on how quickly applications built on AI begin to get monetized), we see no reason to shift our positive view on the stock,” Wedbush analyst Matt Bryson said. Bryson said the situation remained the same amid significant newsflow over the past quarter, pointing to new US restrictions on shipments to China, positive commentary and increased revenue goals from key competitors. “If Nvidia beats by less in Q3 or guides lower in Q4, with Nvidia supply falling well short of demand, any shortfall just leaves a greater amount of demand unfulfilled that Nvidia can ship to in future

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Applied Materials Announces Fourth Quarter and Fiscal Year 2023 Results

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Applied Materials Announces Fourth Quarter and Fiscal Year 2023 Results — Quarterly revenue $6.72 billion, flat year over year — Quarterly GAAP EPS $2.38 and non-GAAP EPS $2.12, up 29 percent and 4 percent year over year, respectively — Annual revenue $26.52 billion, up 3 percent year over year — Annual GAAP EPS $8.11 and non-GAAP EPS $8.05, up 9 percent and 5 percent year over year, respectively SANTA CLARA, Calif., Nov. 16, 2023 (GLOBE NEWSWIRE) — Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its fourth quarter and fiscal year ended Oct. 29, 2023. Fourth Quarter Results Applied generated revenue of $6.72 billion. On a GAAP basis, the company reported gross margin of 47.1 percent, operating income of $1.97 billion or 29.3 percent of net sales, and record earnings per share (EPS) of $2.38. On a non-GAAP adjusted basis, the company reported gross margin of 47.3 percent, operating

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