Is Oracle Poised to Head Higher?
T = Trends for a Stock’s Movement
Oracle is a provider of enterprise software and computer hardware products and services. The company’s software, hardware systems, and services businesses develop, manufacture, markets, host, and support database and middleware software, applications software, and hardware systems, with the latter consisting primarily of computer server and storage products. It is organized into three businesses: software, hardware systems, and services. Information technology products and services are seeing increasing demand due to the surge of companies in developing economies.
Oracle investors partied a day after the database giant released its fiscal second quarter earnings showing big gains for cloud services and some high-end hardware. Shares of Larry Ellison’s baby jumped 6 percent, surpassing not just the 52-week high from back to March but the May, 2011, post-Internet bubble high as well. On the surface, Oracle’s overall results were nothing to get so excited about, with revenue up 2 percent and net income declining 1 percent. The results just slightly exceeded what analysts expected.