Oracle shares fall on guidance
Oracle (ORCL) topped Wall Street estimates on both earnings and revenue for the first quarter of its 2018 fiscal year, reporting adjusted earnings per share of 62 cents on revenue of $9.2 billion. Analysts were forecasting EPS of 60 cents and $9.02 billion in revenue. But the stock is under pressure after the software giant issued weaker-than-expected guidance for its fiscal second quarter. Oracle shares have jumped nearly 29% so far this year.
Most bullish call on Nvidia
Evercore ISI is bullish on Nvidia (NVDA) following a meeting with the company. The firm reiterated its outperform rating and raised its price target on the stock to $250 from $180, the highest on the Street. In a note to clients, analyst C.J. Muse discussed Nvidia’s market opportunity in artificial intelligence, writing, “We are only at the cusp of AI’s growth potential and NVIDIA is creating THE AI computing industry standard.” Shares of Nvidia have gained 67% since the start of the year.
Alphabet considers $1 billion investment in Lyft
Google’s parent company Alphabet (GOOGL) is considering a possible $1 billion investment in Lyft, according to reports by Bloomberg and Axios. Bloomberg reports the money could come from Google or Alphabet’s private-equity arm, CapitalG.
New Apple products available for preorder
Apple (AAPL) fans are now able to preorder some of the products Apple rolled out at its annual iPhone event earlier this week. The iPhone 8, iPhone 8 Plus, and Apple Watch Series 3 are available for order and expected to ship September 22. Shipping of certain iPhone 8 and iPhone 8 Plus models are already delayed. Preorders for the iPhone X will begin October 27.