Oracle Attracts Bearish Options Bets After Mixed Quarterly Results
Portfolio Pulse from Lisa Levin
Oracle Corporation (NYSE:ORCL) shares traded lower after mixed first-quarter financial results. The company reported a revenue of $12.45 billion, up 9% year-over-year, slightly below the market estimate of $12.46 billion. Adjusted earnings per share of $1.19 beat the consensus estimate of $1.15. Oracle's stock is expected to move lower through the September expiration.
September 13, 2023 | 12:28 pm
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Oracle's mixed Q1 results have led to a decrease in its stock price. Traders expect the stock to continue moving lower through the September expiration.
Oracle's stock price fell due to mixed Q1 results. Despite beating EPS estimates, the company's revenue was slightly below market expectations. This, coupled with the high volume of bearish options bets, indicates a negative short-term impact on the stock.
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IMPORTANCE 80
RELEVANCE 100