ORACLE’S GUIDANCE MEETS EXPECTATIONS, STOCK FALLS BELOW MA5
Oracle stock is currently trading at 52.24-lower by 1.52% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 3.68%. The stock has pared some of its losses after the opening bell.
The company on Thursday reported earnings for the fiscal third quarter that beat the market expectation. The company also issued a forecast that was in line with the analysts’ estimates.
Oracle generated an EPS (excluding certain items) of 87 cents for its latest quarter. The EPS was above the market expectation of 84 cents. The company brought in $9.61 billion in revenue for the third quarter. Revenue was above the consensus estimates of $9.59 billion. Oracle’s revenue, however, fell 1% from a year earlier in the quarter ended Feb. 28.
The company expects EPS of $1.05 to $1.09, excluding certain items, and revenue to be flat to down 2% in the fiscal fourth quarter. The markets were expecting EPS of $1.05 excluding certain items, and a 1% revenue drop in the fourth quarter.
On the technical front, the RSI is currently at 50.08% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is below the middle line of the Bollinger Bands but is heading upwards.
TRADE SUGGESTION- LIMIT SELL AT 52.55 TAKE PROFIT AT 52.05 STOP LOSS AT 52.80