Oracle Jumps After Earnings, AWS Partnership

3 hr 42 min ago

Oracle (ORCL) shares surged in more than 8% in premarket trading Tuesday after the enterprise software company posted better-than-expected fiscal first quarter results and announced a multicloud partnership with Amazon’s (AMZN) cloud business, Amazon Web Services.

The software giant’s stock has gained around 34% since the start of the year prior to Monday’s after-hours jump, as growing demand for its cloud services, particularly in artificial intelligence applications, has powered earnings in recent quarters.

Bulls defended a retest of a prior trading range in early August before driving a rally of more than 11% from last month’s low ahead of the company’s quarterly results.

Investors should monitor shorter-term and longer-term price targets in Oracle shares at $154 and $180, respectively, while eyeing the $145 region as a potential retracement area.

Read the full technical analysis piece here.

–Timothy Smith

Stock Futures Tied to Major Indexes Slightly Lower

4 hr 14 min ago

Futures tied to the Dow Jones Industrial Average were down less than 0.1% about two hours before Tuesday's opening bell.

S&P 500 futures were also down less than 0.1%.

Nasdaq 100 futures were off 0.2%.

Take the Next Step to Invest Advertiser Disclosure × The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.