Two legacy tech companies will be reporting financial results after the market close on Thursday, Oracle (ORCL) and Adobe (ADBE).
Cloud giant Oracle is expected to report earnings of 84 cents per share on $9.59 billion in revenue.
“[We are] expecting shares to be range-bound post the Q3 print. Q3 should optically be a solid quarter for Oracle. The consensus expectations seem achievable given easier comps and moderating FX headwinds since the company provided guidance,” Barclays wrote in a note Monday.
Meanwhile, Nomura explained, “while the company is rewarding shareholders with its capital return program, we believe ORCL is significantly underinvesting in R&D compared to peers at the expense of revenue and operating income growth, while also limiting its opportunity to participate in transformative M&A.”
After investing in 41.4 million shares of Oracle, the Oracle of Omaha, Warren Buffett, dumped all of those shares after holding them for less than a year.
In addition, Adobe is anticipated to report earnings of $1.62 per share on $2.55 billion in revenue.
“We also anticipate an update on leadership transition and M&A integration progress. We think that investors will be focused on execution, competitive dynamics, and organic growth trends in the business into FY19 given ongoing marketing strength demonstrated by CRM and signs of organic slowdown in guide,” Citi wrote in a note on Thursday.
Other notable earnings reports scheduled for Thursday include Dollar General (DG) before market open, and Broadcom (AVGO), DocuSign (DOCU) and Ulta (ULTA) after market close.
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Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.
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