Safra Catz, CEO of Oracle Corporation, rings the opening bell at the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023.
Brendan Mcdermid | Reuters
Discover the companies capturing attention prior to the market opening
Oracle – Shares plummeted by 10% before the opening bell as the company announced lower-than-anticipated revenue and revenue forecast for the second fiscal quarter. The software corporation reported adjusted earnings of $1.19 per share for the recent quarter, while analysts surveyed by LSEG projected $1.15. Revenue fell short at $12.45 billion, compared to the $12.47 billion expected.
WestRock – Shares surged more than 6% before the bell following news of the paper and packaging company’s merger with Smurfit Kappa proceeding. Shares of Smurfit Kappa, based in Dublin, plummeted by over 8% in response to the announcement.
Apple – Leading up to the highly anticipated iPhone launch event at 1 p.m. ET, the technology giant’s stock experienced a slight increase before the bell.
Cintas – Shares rose by 1% in premarket trading after a buy rating was issued by Bank of America, attributing it to the increasing likelihood of a soft landing economic scenario.
Casey’s General Stores – The retail company’s stock rose by over 4% in premarket trading after surpassing earnings expectations for the recent quarter. Casey’s General Stores announced earnings of $4.52 per share, exceeding the FactSet consensus estimate of $3.36. Revenue came in at $3.87 billion, slightly below the anticipated $3.9 billion.
Geron – Goldman Sachs upgraded shares of the blood cancer treatment company to a buy rating from neutral, prompting a nearly 5% jump in the stock. The upgrade comes ahead of Geron’s drug launch in 2024, with Goldman Sachs indicating the possibility of a 70% increase in share value.
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