Today we are watching…
1. Oracle (#oracle)
Software vendor Oracle may not have beaten its revenue estimates, but it has beaten the clock! Investors received a surprise announcement yesterday that Mark Hurd, the CEO, needed to take a step back from that role to focus on his health. Hurd has been with Larry Ellison’s Oracle for nine years, and the stock nose-dived on news of his departure. However, pushing its earnings release forward from today, the company cracked on with business to report a mixed bag of numbers. Profit expectations were superseded as it squeezed more out of cloud computing, but revenue missed the mark as Oracle failed to snatch any real market share from Amazon this quarter. How will the software giant fare as Ellison returns to the helm?
2. Wendy’s (#wen)
After a sub-par breakfast at Wendy’s, a bunch of Wall Street analysts decided to scathe its stock price rather than leave a two-star review on Yelp. That’s just their style! Investors took the hint though, and now the company is worth almost a billion dollars less in their eyes. Wendy’s has been on a run-up until now, and will still serve breakfast at over 5,000 stores after trialing it in 300. The company has already tried three times to get its breakfast business up and running, and sadly, the company has failed three times. That’s why the restaurant chain is facing heat from the market as it hopes for fourth time lucky — flogging a dead horse?