Oracle Corporation (ORCL)

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Stock To Watch This Week: Oracle (NYSE:ORCL)
By: Investing.com | September 11, 2022

• Oracle earnings may show its efforts to move customers to the cloud are working.
• Adobe business is being affected by currency fluctuations, seasonal shifts in demand and the decision to end sales in Russia and Belarus.
• Elon Musk's lawyers are claiming that they have found another breach of a contract in Twitter deal.

Inflation and interest rates will likely once again dominate the market trading agenda next week as investors await the August CPI data before the Federal Reserve’s next rate-setting meeting.

Inflation in the U.S. is running close to a four-decade high, pressuring policymakers to continue raising interest rates to reverse the trend. Market participants are expecting the Fed to raise by 75 basis points when its members meet on Sept. 21.

In addition to the monthly CPI release on Tuesday morning, the producer price index inflation reading is scheduled to be released on Wednesday, while retail sales and industrial production reports are due the next day.

Stocks broke a three-week losing streak the past week with the S&P 500 closing at 4,067.6, gaining 3.6% for the week. Amid concerns about inflation and the path of U.S. monetary policy, below are three stocks we’re monitoring closely this week:

Oracle

Software and infrastructure giant Oracle (NYSE:ORCL) is set to release its fiscal 2023, first-quarter earnings report on Monday, Sept.12, after the market close. Analysts are projecting $1.08 a share profit on sales of $11.33 billion.

In June, Austin, Texas-based Oracle reported strong earnings for the previous quarter, showing that its efforts to move customers to the cloud are paying off. Plus, the acquisition of health care records provider Cerner Corp (NASDAQ:CERN). was helping accelerate growth.


Oracle Fair Value per InvestingPro+
Source: InvestingPro+

Oracle has been trying to fuel growth in its cloud business and create a bigger imprint in the fast-growing market, which is led by Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT), and Alphabet's (NASDAQ:GOOGL) Google.

Cloud sales growth had been greater than 20% since Oracle, the second-biggest software maker by revenue, began disclosing it last year. Oracle shares, which closed on Friday at $75.91, are down 12% this year, faring better than the benchmark Nasdaq Index.

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