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.
Oracle Corporation

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.