TMTB EOD Wrap; ORCL First Take

Good afternoon. QQQs +1.15% bounced back after last week’s shellacking. AAPL’s event was about as expected. Seeing some selective strength in software with PLTR +14% and NOW +3.5% both closing at 52wk highs (not px action you see if we were going to break lower - ORCL likely on that list tomorrow as well) while AI semis also got a bid today. GOOGL -1.5% continues to break down.

Post-close, ORCL +4.5% looks solid with a down the fairway print - small beats to revs and EPS. Importantly, OCI revs mid 40s in line with bogeys and RPO +53% while other businesses also fared well (cloud ofset slight miss in hw/services). Announces partnership with AWS and GOOGL Cloud. Investors will look for positive commentary/guide on the call and more at CloudWorld beginning tomorrow…

Q1
- ADJ revenue $13.31B, +6.9% y/y, EST $13.26B
- ADJ EPS $1.39 vs. $1.19 y/y, EST $1.33
- Cloud services and license support revenue $10.52B, +10% y/y, EST $10.51B
- Cloud license and on-premise license revenue $870M, +7.5% …