On this episode of Stock Movers:
- Oracle (ORCL) is higher in the premarket. It continues to surge after the company gave an aggressive outlook for its cloud business, cementing its place in the race to support demand for artificial intelligence computing. The company signed deals with major customers including OpenAI, Nvidia, and ByteDance's TikTok, helping boost remaining performance obligations to $455 billion at the end of the fiscal first quarter.
- Klarna (KLAR) is lower this morning after yesterday's huge IPO. Klarna's listing gave the company a market value of about $15.1 billion after the buy-now, pay-later company and some of its backers sold shares for $40 per share.
- Opendoor (OPEN) is rallying after the company said co-founders Keith Rabois and Eric Wu will rejoin the board and named Shopify’s Kaz Nejatian as chief executive officer.
- Amazon (AMZN) is higher after it was named a top pick at Morgan Stanley, which sees the company’s expansion in groceries “unlocking durably faster growth.” The grocery expansion is “a way for AMZN to drive higher utilization and purchase volume on its already leading logistics network and fleet,” and over the longer term, “capturing more consumer data in this critical grocery category (purchase behaviors, brand affinities, etc) is going to be important to AMZN’s efforts to create next generation agentic grocery offerings.”
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