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News
Thursday, June 11, 2026
What’s happening: Shares of Oracle dipped in after-hours trading on Wednesday following the release of fourth-quarter results.
What happened: The cloud computing company reported better-than-expected sales and earnings for the latest quarter.
Oracle also announced plans to raise more debt in 2027, exerting pressure on the company’s stock.
How were the results: The Austin, Texas-based company reported double-digit sales growth for the latest quarter.
Why it matters: Oracle’s cloud revenues jumped 47% to $9.9 billion, while services revenue grew 13% to $1.5 billion. Hardware revenues climbed 9% to $900 million, but software revenue fell 2% to $6.8 billion during the quarter.
Remaining performance obligations jumped 363% year-over-year to $638 billion at the end of the quarter.
“The large increases in Oracle’s RPO and revenue are driven by the growing demand for cloud infrastructure for AI training and inferencing,” Oracle said.
Management guided to revenue growth of 27%-29% for the first quarter, while total cloud revenue growth of 57%-63%. The company also guided to adjusted earnings between $1.72 and $1.76 per share, higher than market expectations of $1.68 per share.
For fiscal 2027, Oracle affirmed its revenue forecast of $90 billion and projected adjusted earnings of $8.05 per share.
Oracle said it is looking to raise approximately $40 billion through a combination of debt and equity financing. The company, which aims to give stiff competition to cloud leaders like Amazon and Microsoft, said it expects fiscal 2027 capital expenditures of up to $95 billion.
How shares responded: Oracle’s shares tumbled 10.1% to $180.89 in extended trading hours on Wednesday following the release of quarterly earnings. Even after the decline, the shares are up almost 4% over the past month.
What to watch: Investors will keep an eye on the company’s capital spending plans and rising competition in the cloud segment.
Context: The Canadian currency gained against the US dollar this morning as investors responded to the central bank’s interest rate decision.
Details: The Bank of Canada kept interest rates unchanged, in-line with expectations, citing mixed economic signals.
Markets continue to widely expect a 25bps interest rate hike by the end of this year.
The BoC noted that uncertainty remains elevated due to concerns around the Middle East tensions and fresh US tariff proposals.
Inflation in Canada accelerated to 2.8% in April amid higher energy prices, while core inflation rate eased to 2.1%. The central bank projected inflation to hover around 3% before gradually slowing towards the 2% target.
The US dollar rose slightly after Washington announced strikes on several targets in Iran. However, the US military later said that there were no further strikes planned.
Strength in the US dollar weighed on the Canadian currency this morning. The US dollar index, which measures the greenback’s performance versus a basket of major peers, edged higher to 99.96.
Lower prices of crude oil, one of Canada’s major exports, also exerted some pressure on the Loonie. Spot price for WTI crude oil fell 0.4% to trade at $92.94 per barrel this morning.
The USD/CAD pair slipped to 1.3940 this morning.
What to watch: Investors will continue monitoring developments related to the US-Iran conflict.
Data on Canada’s building permits (1630 UAE Time) will be released today. Canada’s building permits, which jumped 10.3% to C$13 billion in March following a 7.8% decline in the previous month, are expected to contract by 3.5% in April.
Other Markets: US trading indices closed lower on Wednesday, with the Dow Jones index, S&P 500 and Nasdaq 100 down by 1.87%, 1.62% and 1.98%, respectively.
Ukraine announced long-range strikes on Russia’s energy facilities and military industries. The news sent the USD/RUB pair higher in forex trading this morning.
South Korea’s unemployment rate came in unchanged from the previous month at 2.8% in May. The economy losing 40,000 jobs during the month lent support to the USD/KRW forex pair.
Australia’s consumer inflation expectations fell to 5.5% in June from 5.6% in May. This being the lowest reading since March sent the AUD/USD pair higher in forex trading this morning.
S&P Global raised Argentina’s long-term sovereign credit rating from ‘CCC+’ to ‘B-‘, exerting slight pressure on the USD/ARS forex pair.
Japan’s business survey index for large manufacturers declined to -1.8% in the second quarter from 3.8% in the previous quarter. However, the USD/JPY pair fell slightly in forex trading this morning.
South Africa’s current account (1300 UAE Time), gold production (1330 UAE Time), mining production (1330 UAE Time) and manufacturing production (1500 UAE Time), Turkey’s interest rate decision (1500 UAE Time) and foreign exchange reserves (1530 UAE Time), Mexico’s industrial production (1600 UAE Time), European Central Bank’s interest rate decision (1615 UAE Time), Germany’s current account (1630 UAE Time), US PPI (1630 UAE Time), initial jobless claims (1630 UAE Time) and continuing jobless claims (1630 UAE Time), Russia’s balance of trade (1700 UAE Time) as well as Argentina’s inflation rate (2300 UAE Time).
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