All the market-moving Wall Street chatter from Wednesday

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All the market-moving Wall Street chatter from Wednesday

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on both lines both attractive yet underappreciated, while he said its margin drivers are sustainable. Meanwhile, he said Skechers is improving its operational discipline. Shares added about 0.5% before the bell on Tuesday. The stock has jumped 18.5% in 2024, propelled by a second-quarter rally of more than 20%. — Alex Harring 5:40 a.m.: Wall Street reacts to Oracle earnings, AI announcements Despite a tough quarter on the surface, analysts and traders found nuggets to like out of Oracle’s earnings report. The software company posted $1.63 in adjusted earnings per share on $14.29 billion in revenue for the fourth fiscal quarter on Monday. That was below the consensus forecasts from analysts polled by LSEG of $1.65 a share and $14.55 in revenue. However, shares popped more than 8% on the back of cloud deals with

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and Open AI. Firms such as Morgan Stanley and JPMorgan raised their price targets on the stock following the report, citing reasons for excitement like newly announced artificial intelligence deals. Here’s what some on Wall Street had to say: JPMorgan analyst Mark Murphy (neutral rating, price target raise of $5 to $110, 11.2% downside ahead): “Stepping back, while we see this one quarter differently and do not sense investors using the most intellectually-robust framework at the moment, we continue to respect what Oracle has accomplished in terms of margin structure, developing OCI and positioning the business to reaccelerate, and we continue to apply a high growth-adjusted PT multiple to reflect these merits.” Morgan Stanley analyst Keith Weiss (equal-weight rating, price target increase by $10 to $125, 0.9% upside ahead): “The positive of signing 30 OCI customers driving $12.5B in AI bookings outweighed the negatives of revs and EPS missing in Q4, with notable decelerations in SaaS apps. In an environment rewarding hardware vendors participating in the AI build-out, this likely supports positive momentum in ORCL.” Piper Sandler analyst Brent Bracelin (overweight rating, price target hike by $10 to $150, sees upside of 21.1%): “The $12.5B of new AI contract signings reaffirms that ORCL is one of the few software titans (alongside MSFT) that appears to be capitalizing on the generative AI wave now underway”. — Alex Harring 5:40 a.m.: Goldman Sachs downgrades Birkenstock It might be time to cash in on Birkenstock gains, according to Goldman Sachs. Analyst Louise Singlehurst downgraded the ******* shoe stock to neutral from buy. Singlehurst raised her price target to $58 from $54.20, but the new forecast implies nearly 2% downside from Tuesday’s close. Share have been on ***** this year, rising more than 21%. BIRK YTD mountain BIRK year to date “We like the investment thesis at Birkenstock, supported by share gains in a highly fragmented market, new product launches with additional production facilities to ease supply constraints, positive price mix and best in class levels of operating profitability,” the analyst wrote. “However, since listing in October 2023 the shares have outperformed the broader luxury peer group by c.43%; the S & P 500 +24%; and Stoxx 600 +32%, and we now view the shares as fairly valued,” she added. Birkenstock shares were down more than 3% in the premarket following the downgrade. — Fred Imbert

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Investment strategy,Stock markets,Birkenstock Holding PLC,Oracle Corp,Skechers USA Inc,business news
#marketmoving #Wall #Street #chatter #Wednesday

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