Top Market Movers: ORCL, WRK, AAPL’s Pre-market Surge Signals Exciting Opportunities

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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