Oracle stock is down after earnings miss and elevated cloud expectations
Oracle’s stock fell nearly 8% after missing earnings estimates and issuing weak guidance. Oracle fell nearly 8% in extended trading after it reported quarterly earnings that slightly missed estimates and the company issued weaker-than-expected guidance. The software provider reported fiscal second-quarter revenue of $14.1 billion, a 9% year-on-year increase. It reported $4.21 billion in profit,…
Stock market today: Indexes trade mixed as rally wavers ahead of key inflation data
US stocks wavered on Tuesday as investors prepared to digest the November inflation report due this week. The S&P 500 and Nasdaq rose slightly, though remained below record highs achieved at the end of last week. The rally stumbled on Monday after a Chinese probe into Nvidia sent the equity giant into decline. Wall Street…
After the Omnicom-IPG merger, these are the ad M&A deals industry insiders think could be next
Omnicom CEO John Wren. Omnicom’s planned $13.25 billion takeover of Interpublic Group has advertising insiders speculating: Who’s next? Other agency giants face similar conditions that led two of the six big ad-holding companies to seek a merger. There’s the concentration of ad dollars with the tech giants Google, Meta, and Amazon, the need for media-buying…
Bitcoin’s pullback after rising ntabove $100,000 creates risk of a 13% correction, chart master says
Bitcoin’s short-lived cross above the key psychological level of $100,000 could set the cryptocurrency up for a corrective sell-off in the near term. That’s according to Katie Stockton, technical analyst and founder of Fairlead Strategies. In a Monday note, Stockton highlighted that Bitcoin’s inability to hold above the $100,000 level for more than a few…
A ‘silver tsunami’ of boomer home sales won’t fix the housing affordability crisis, Zillow says
Don’t expect a wave of home sales by older Americans to fix the affordability crisis facing US buyers. While some economists and housing experts are increasingly optimistic about a wave of housing supply as empty nesters downsize and add inventory to the market, Zillow isn’t so sure. “A flood of currently owner-occupied homes hitting the…
Wall Street’s AI race: 5 things that McKinsey says will separate the winners from the losers
The bill is coming due for Wall Street banks’ AI investments. It’s been two years since generative AI captured the attention and dollars of bank leaders. They amassed teams of technologists to experiment with generative AI and run proofs of concepts. Some of those have since scaled to enterprise-wide initiatives used by thousands of employees.…
Some workers are warming up to AI and think it will help their career
Half of workers in a survey from KPMG reported automation was helping them on the job. Some US workers appear to be warming up to artificial intelligence. In a KPMG US survey, half of respondents said automation — including AI — has boosted their professional abilities. Just shy of half said that automation would bring…
NBA execs are betting its in-season tournament will ignite interest after a slow TV ratings start
The Los Angeles Lakers won the NBA’s first-ever In-Season Tournament last season but missed the cut this time. The NBA is battling an early-season ratings slump, but league executives told B-17 they are confident the slide will be short-lived, as the knock-out round of its second-ever in-season tournament tips off on Tuesday night. NBA ratings…
Timothée Chalamet’s Bob Dylan can really sing, even if ‘A Complete Unknown’ doesn’t hit all the right notes
Timothée Chalamet as Bob Dylan in “A Complete Unknown.” The last time someone made a Bob Dylan movie, it took six actors to capture his essence. That film was Todd Haynes’ 2007 “I’m Not There,” a conceptual take on Dylan that split the artist into six facets of his public persona, each played by actors…
