Topics

Posted 9/12/2023, 4:32:43 PM

Oracle's Stock Plunge Costs Larry Ellison $17B, Drops Him to 5th Richest Person

Oracle's stock crashed nearly 13% on Tuesday after disappointing Q1 earnings, wiping out $17B from Larry Ellison's net worth.
Ellison fell from 4th to 5th richest person as his net worth dropped from $159B to $142.5B.
Oracle missed revenue estimates and issued lower guidance for the current period.
The stock slide puts Oracle's 2022 performance in line with the Nasdaq after previously outperforming.
Ellison remains committed to political spending, gearing up to donate $60M to Sen. Tim Scott's presidential campaign.

forbes.com

Relevant topic timeline:

8/29/2023

These are the top 10 things to watch in the stock market Tuesday

Stocks are set to open slightly lower as all three major averages are on pace to post monthly losses, Oracle is upgraded to buy by UBS, and Salesforce is removed from JPMorgan's Analyst Focus List ahead of earnings.

9/11/2023

Oracle's Revenue Misses Expectations Despite Growth in Cloud Business

Oracle shares dropped by about 5% in extended trading after the company reported slightly lower-than-expected fiscal first-quarter revenue, although earnings per share were better than anticipated.

9/12/2023

Oracle Stock Slips on Weak Guidance Despite AI Potential

Oracle's stock is facing a decline, but now is a good time to invest in its AI potential.

9/12/2023

Oracle Misses Revenue Expectations, Cloud Growth Continues as Cerner Acquisition Promises Health Sector Expansion

Oracle disappointed stock markets with slightly less than expected revenue for Q1 of 2024, while CTO Larry Ellison hinted at a closer partnership with Microsoft's Azure cloud platform.

9/12/2023

Oracle Shares Plunge Over 13% on Weak Earnings Report, On Pace for Worst Day in 21 Years

Shares of Oracle Corp. are set to suffer their worst one-day performance in 21 years after the software and cloud services company reported disappointing earnings and provided a downbeat outlook for the next quarter.

9/12/2023

Stocks Slip as Oil Prices Surge; Oracle Shares Plunge on Weak Results

The S&P 500 and Nasdaq declined as oil prices reached their highest level of the year, while Oracle's shares plummeted due to missed forecasts, and Westrock's shares rose after a purchase agreement.

9/12/2023

Stocks Slide as Tech Drags Market Lower Ahead of Key Inflation Data

Stock indices closed in the red, with the Nasdaq 100, S&P 500, and Dow Jones Industrial Average all experiencing declines, while the technology sector underperformed and the energy sector led the session. The U.S. 10-Year Treasury yield dropped, while the Two-Year Treasury yield increased. The Small Business Optimism Index for August decreased, with inflation cited as a major concern among small business owners. Stocks opened lower on Tuesday, and U.S. futures trended lower as well. This week's focus will be on the Consumer Price Index and Producer Price Index data, which could impact the Federal Reserve's decision on rate hikes. Oracle's stock fell after missing sales estimates, while Casey's General and Tesla saw gains. JPMorgan's CEO criticized new Basel III regulations, and European indices traded in the green. In Asia-Pacific, markets ended mixed as traders await U.S. inflation data.

9/12/2023

Stocks Mixed After Earnings: Oracle Slumps, WestRock Gains on Merger, Apple Dips Before Event

Oracle shares dipped 13.5% after disappointing earnings and revenue guidance, while WestRock rose 2.8% following news of a merger with Smurfit Kappa, and Apple shares fell 1.8% ahead of the launch event for its new iPhone.

9/12/2023

Apple and Oracle Shake Markets; Kim Jong Un Visits Putin; Oil and Rates Outlook

Stocks slump as Oracle and Apple experience losses, with the Nasdaq Composite having its first losing day in three, while Apple's new iPhone 15 and iPhone 15 Pro fail to boost investor interest in the company.

9/12/2023

Cramer: Wall Street Fears Causing Unwarranted Declines in Apple and Oracle Stocks

Investor fear is causing tech stocks like Oracle and Apple to drop, according to CNBC's Jim Cramer, who believes the selling is unwarranted given the lack of clear negatives and recommends investors to tap into Oracle before it starts its "mammoth buyback."

Topics

Posted 9/12/2023, 4:32:43 PM

Oracle's Stock Plunge Costs Larry Ellison $17B, Drops Him to 5th Richest Person

Oracle's stock crashed nearly 13% on Tuesday after disappointing Q1 earnings, wiping out $17B from Larry Ellison's net worth.
Ellison fell from 4th to 5th richest person as his net worth dropped from $159B to $142.5B.
Oracle missed revenue estimates and issued lower guidance for the current period.
The stock slide puts Oracle's 2022 performance in line with the Nasdaq after previously outperforming.
Ellison remains committed to political spending, gearing up to donate $60M to Sen. Tim Scott's presidential campaign.

forbes.com

Relevant topic timeline:

8/29/2023

These are the top 10 things to watch in the stock market Tuesday

9/11/2023

Oracle's Revenue Misses Expectations Despite Growth in Cloud Business

Oracle shares dropped by about 5% in extended trading after the company reported slightly lower-than-expected fiscal first-quarter revenue, although earnings per share were better than anticipated.

9/12/2023

Oracle Stock Slips on Weak Guidance Despite AI Potential

Oracle's stock is facing a decline, but now is a good time to invest in its AI potential.

9/12/2023

Oracle Misses Revenue Expectations, Cloud Growth Continues as Cerner Acquisition Promises Health Sector Expansion

Oracle disappointed stock markets with slightly less than expected revenue for Q1 of 2024, while CTO Larry Ellison hinted at a closer partnership with Microsoft's Azure cloud platform.

9/12/2023

Oracle Shares Plunge Over 13% on Weak Earnings Report, On Pace for Worst Day in 21 Years

9/12/2023

Stocks Slip as Oil Prices Surge; Oracle Shares Plunge on Weak Results

The S&P 500 and Nasdaq declined as oil prices reached their highest level of the year, while Oracle's shares plummeted due to missed forecasts, and Westrock's shares rose after a purchase agreement.

9/12/2023

Stocks Slide as Tech Drags Market Lower Ahead of Key Inflation Data

9/12/2023

Stocks Mixed After Earnings: Oracle Slumps, WestRock Gains on Merger, Apple Dips Before Event

9/12/2023

Apple and Oracle Shake Markets; Kim Jong Un Visits Putin; Oil and Rates Outlook

9/12/2023

Cramer: Wall Street Fears Causing Unwarranted Declines in Apple and Oracle Stocks