Oracle Stock Hits Record High, Boeing Slumps, GameStop Tumbles

On this edition of Stock Movers:

- Oracle (ORCL) shares soared to a record high after the software maker projected a 70% gain in cloud infrastructure sales this fiscal year, giving a bullish outlook for the closely watched business. The company, long known for its database software, has been gaining traction in its effort to become a major player in the business of cloud computing — renting out computing power and storage — by targeting clients focused on artificial intelligence work. Earlier this year, it announced a joint venture dubbed Stargate to provide OpenAI with massive sums of computing power.

- Boeing (BA) shares slump after an Air India flight bound for London crashed Thursday, killing all but one of the 242 people on board the Boeing Co. Dreamliner in the deadliest aviation accident in more than a decade. The airline confirmed that 241 of those on the London-bound flight had died. The sole survivor is being treated in a hospital, the carrier said.

- GameStop (GME) shares tumble after the video game retailer announced plans for a $1.75 billion convertible notes offering to potentially fund its new bitcoin purchase strategy. The company also said they will focus on on growing its trading card business.

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios Podcasts, Radio News.

Speaker 2 (00:08):
The Stock Movers podcast, your roundup of companies making moves
in the stock market, harnessing the power of Bloomberg Data.

Speaker 3 (00:17):
I Jim stinebag along with Carol Masser. Let's take a
look at some stocks on the move today. We are
joined by Bloomberg News process at reporter Emily GRAFFEO, Emily,
what's on your radar?

Speaker 4 (00:26):
Okay, So I'm looking at shares of Oracle, the ticker
here being o r CL starting to a record high
today after an earnings beat. The software company projected a
seventy percent gain in cloud infrastructure sales for this fiscal year.
Hit a record right, Yes, I hit a record high.
And so this was all driven by the focus on

(00:47):
AI cloud computing. And then we saw Slove upgrades, Barkley's, Jeffries,
Evercore all raise their price targets.

Speaker 1 (00:53):
Yeah, pretty upy for them. I mean, this one the
number one game in the S and P five hundred.
But that AI trade rights still happening.

Speaker 3 (01:00):
On the flip side, here's it Boeing moving lower in
the S and PN the dow.

Speaker 4 (01:03):
Yeah, that's right. So Boeing shares fell as much as
six percent today. Of course, after the tragic airline crash
involving in air India Boeing seven eighty seven Dreamliner, we
saw a number of other airliners decline today, and then
we also saw shares of General Electric decline. The plane
was powered by two ge gen X engines, so all

(01:25):
around the news was really weighing on that all those
industries today.

Speaker 1 (01:29):
As George Ferguson of our Bloomberg Intelligence team reminded us
several times, Julie Johnson, two of our our Bloomberg News
reporting team, saying that you know, until all of the
investigations are done, you know it could turn out to
be something that was in terms of maintenance issues. So
you know, despite the stocks being under pressure, time will tell.

Speaker 3 (01:48):
Let's end on a lighter note, maybe talk a little
bit about Pokemon trading cards.

Speaker 4 (01:52):
Okay, so gme, game stop. Does this have anything to
do with Pokemon something.

Speaker 3 (01:57):
Pokemon trading cards?

Speaker 4 (01:59):
Give us? Give us Well, I was gonna, okay, I'm
seeing that headline now, I was going to come in
and say that the stock is down as much as
twenty four percent, biggest drop in a year, because they're
raising a bunch of money in convertible bond sales. You
would be correct, right, that dilutes the stock, But I'm
also seeing tim that they did so they're going to
focus on growing their trading card business, which I guess

(02:19):
is bad for the stock as well because they're trying
just lots of different pictures.

Speaker 3 (02:23):
Sound like yeah.

Speaker 2 (02:25):
The Stock Movers podcast from Bloomberg Radio. Check back with
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