Diamonds and Dogs
Oracle Corp. (ORCL) leading the tech sector higher. Oracle is up 8% to new highs following better than expected earnings. Revenue for the quarter only grew 1%, but topped expectations thanks to strong sales from their Cloud Services and License Support business units. Plenty of upgrades with new price targets in a range from $59 a share to $66 a share.
Carnival (CCL) getting hit again. The cruise liner is down 10% not far from the December lows after the company lowered guidance. The company CEO said the setback was due to global economic weakness and changes in the U.S. government's policy on travel to Cuba. Recent booking trends have been impacted by ongoing geopolitical and macroeconomic headwinds affecting their Continental European brands. Not a good time to be in the cruise business.