Diamonds and Dogs
Oracle (ORCL) up 2% as they eye TikTok. Move over Microsoft, software firm Oracle is looking into acquiring TikTok. Oracle would get almost no operational benefit from the acquisition. Instead, Oracle would look at TikTok purely as an investment. Or they may be trying to run up the price Microsoft would have to pay for TikTok.
Back to School sales off to a slow start. Kohl's (KSS) is down 15% stuck in a trading range following earnings. Kohls reported a smaller loss than expected as sales fell 23% to $3.4 billion. The stock initially rose, but then sold after due to comments on the conference call regarding slow back to school sales as schools and parents are still trying to figure out what the fall school season will look like.
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