Diamonds and Dogs
Oracle (ORCL) is king of the cloud. The software firm is up 10% to new all-time highs following better than expected earnings thanks to clients shifting their business to the cloud. The Cloud revenue rose 61% and is expected to grow 48-52% y over year. Cloud revenue will surpass service in the coming year. The stock received at least six upgrades with price targets as high as $62 a share.
Accenture (ACN) under pressure. The consulting firm beat earnings estimates, but shareholders were not impressed as the stock dropped 5% The company did trim its margin outlook to 13.3% from previous guidance of 13.5% to 13.7%. The adjusted margin outlook was revised to 14.8% from previous guidance of 14.7% to 14.9%.