Equities

Oracle AI Deals Fuel Stock Surge, Near Record High

Oracle surges on AI deals with Google and OpenAI, Affirm gains 30% on Apple Pay integration, First Solar up 70% YTD.

By Bill Bullington

6/11, 19:45 EDT
Apple Inc.
Affirm Holdings, Inc.
AST SpaceMobile, Inc.
First Solar, Inc.
SPDR S&P Bank ETF
Oracle Corporation
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Oracle's AI Partnerships Drive Stock Surge, Affirm Gains on Apple Pay Deal, and Solar Stocks Shine

After-hours Stock Action

Oracle (ORCL): AI Deals Trump Earnings Miss

  • Positive Momentum: Oracle's stock surges post-earnings as AI-related announcements overshadow slight earnings and revenue misses.
  • Strategic Partnerships: Cloud partnership with Google and AI-infrastructure deal with Microsoft and OpenAI drive investor optimism.
  • Strong Performance: Shares in positive territory YTD, closing around 4% below March all-time high.

Affirm Holdings (AFRM): Apple Pay Integration Boosts Stock

  • Market Reaction: Affirm sees best day since March after announcing availability of payment products to some Apple Pay users.
  • Yearly Performance: Despite being down 30% in 2024, significant gains from last year have shares nearly doubled from June 2023.

First Solar (FSLR): Baird Price Target Hike Propels Growth

  • Analyst Optimism: First Solar hits highest level since May 2008 after Baird analysts raise price target and maintain outperform rating.
  • Sector Leader: Top gainer in Invesco Solar ETF (TAN) this year, up by a significant margin at 70%.

AST SpaceMobile (ASTS): Verizon Deal Drives Rally

  • Recent Gains: AST SpaceMobile climbs over 16% following Verizon deal announcement, marking over a 300% increase in a month.
  • Trading Status: Despite recent highs, still trading more than 30% below post-SPAC peak from 2021.

Chinese EV Stocks Face Tariff Concerns in Europe
Nio and XPeng experience declines amid fears of potential tariffs in Europe. Both stocks down around 50% YTD amidst challenging market conditions.

Sectors We Are Watching

Apple Inc. (AAPL): Record High Amidst Developer Conference Buzz

  • Investor Sentiment: Record stock performance post-Apple developer conference; artificial intelligence optimism boosts shares by nearly 8%.

Banking Sector Struggles Amidst Market Volatility

  • Mixed Bag for Banks: SPDR S&P Bank ETF (KBE) down from May high; individual banks like Comerica facing double-digit declines recently.

Software Industry Outlook Amidst Market Fluctuations

  • Software Sector Analysis: Brad Gerstner suggests sector nearing bottom; opportunities for investment highlighted amidst recent market trends.