After the third meltdown of US stocks on March 12, most stocks rebounded strongly on the 13th. After the closing bell yesterday, software giant Oracle ORCL reported better-than-expected fiscal third-quarter 2020 results. The company beat the Zacks Consensus Estimate for earnings and revenues on growing cloud business. And the nyse ivz (https://www.webull.com/quote/nyse-ivz) stock price up to 10.80, improving 14.29%.
For the fiscal fourth quarter of 2020, the world’s second-largest software maker expects total revenues to be down 2% to up 2%. It projects earnings per share of $1.20-$1.28. The midpoint of the range is above the Zacks Consensus Estimate of $1.22. Earnings per share came in at 97 cents, beating the Zacks Consensus Estimate of 96 cents and improving 11% from the year-ago quarter. Revenues grew 1.9% year over year to $9.8 billion, representing the best growth in nearly two years, and were above the estimated $9.78 billion (see: all the Technology ETFs here). After rising 3.7% in aftermarket hours, Oracle shares were up 6.1% in early pre-market trading. The company carries a Zacks Rank #3 (Hold) and has a Value Score of B. It belongs to a top-ranked Zacks Industry (top 24%).
Ivz current stock price
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Invesco financial sector
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