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Oracle Corp – Sharply higher in early trading after the database giant reported fiscal second-quarter results that beat the top- and bottom-line estimates. The company ORCL, -0.19% reported a net loss of $1.25 billion, or 46 cents a share, vs. net income of $2.44 billion or 80 cents a share, in the year-ago quarter. Adjusted earnings were $1.21 a share. The company’s CEO said “These strong results are being driven by the 22% growth of our infrastructure and applications cloud businesses, which are approaching $11 billion in annualized revenue.” Revenue was $10.36 billion, up 6% from $9.8 billion a year ago.
C3Ai Inc – The company said the U.S. Department of Defense awarded the company a five-year agreement worth $500 mln. Under agreement, any DoD agency can acquire C3 AI products and services for modeling and simulation used in systems deployed to counter threats.
Nu Holdings – Day 2 for the Brazil based, Buffett backed neo bank, the company made its debut at a market capitalization of nearly $52 billion, making it the third most valuable listed firm in Brazil. Nubank priced its initial public offering at the top end of a range it had lowered earlier due to concerns over a global rout in technology stocks, to raise nearly $2.6 billion.
Costco Wholesale – Reported Q1 revenue and profit that beat Wall Street estimates, but warned of product delays over the holiday season. It was better than expected membership growth and lower expenses for the quarter that overshadowed the warning from the retailer. J.P. Morgan (“overweight,” PT: $560) says it has confidence in holiday season in-stocks, noting strong performance in baking, alcohol, apparel and appliances.
Peloton Interactive – Credit Suisse downgrades shares of the interactive fitness platform provider to “neutral” from “outperform.” Saying, “Given the shift in consumer focus after reopening of economy, brokerage now expects a lower return on co’s marketing, which would push its customer acquisition costs (CAC) above pre-pandemic levels.”
Lululemon Athletica – Shares are set to open near a two-month low after the company warned that athleisure clothing demand will be hit by the spread of new coronavirus variants. However, LULU improved its fiscal year 2021 revenue outlook to between $6.25 bln and $6.29 bln from $6.19 bln to $6.26 bln forecast earlier. The company also raised its full-year adjusted EPS outlook to between $7.69 and $7.76 from its previous forecast of $7.38 to $7.48. Multiple PT increases on the stock this morning.
Chewy Inc – Lower after reporting disappointing results for its fiscal third quarter ended Oct. 31, reflecting higher-than-expected supply chain and labor costs. For the quarter, revenue came in at $2.21 billion, up 24% from a year earlier, and right in line with both guidance and Street estimates. But the company posted a loss for the quarter of 8 cents a share, wider than the Street consensus forecast of a loss of 4 cents a share. Adjusted Ebitda, or earnings before interest, taxes, depreciation and amortization was $6 million, up 9.9% from a year ago. The company said profitability measures in the quarter reflected “the impact of ongoing supply chain disruptions, labor shortages, and higher inflation.”
Context Therapeutics – Said its experimental drug, ONA-XR, significantly increased the suppression of tumor cells in a window-of-opportunity trial in patients with a type of breast cancer. Window of opportunity studies are trials in which patients receive one or more new compounds between their cancer diagnosis and standard treatment. The study, conducted by Spanish cancer research group SOLTI, enrolled 10 patients, tumor expression decreased in six patients, remained stable in one patient, and increased in three patients.
Energy Focus Inc – Launched its nUVo(TM) virus-targeted UVC air disinfectors to the public.
American Virtual Cloud Technologies – Announced its Kandy Communications business unit (Kandy), and Braidio, the global, award-winning mobile customer engagement platform today announced an expanded partnership that will power next-generation user experiences for an 80,000-user telehealth application and for a pet wellness application by a premier veterinary hospital system in the US servicing 25,000+ customers.