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On February 12th, the State Administration for Market Regulation released the "Guidelines for Compliance of Pricing Behavior in the Automobile Industry." Currently, the automobile industry suffers from illegal practices such as failure to clearly mark prices as required and price fraud, which harm the interests of consumers and businesses, disrupt fair competition, and hinder the industrys high-quality development. Based on the current realities of the automobile industry, the "Guidelines" further clarify the boundaries of behavior, unify regulatory rules, guide automobile manufacturers and sales companies to operate legally and compliantly, and promote a market order characterized by high quality, fair pricing, and healthy competition. The "Guidelines" specify price compliance requirements at every stage, from vehicle manufacturing to parts production, and from pricing strategies to sales practices. It implements full-process price management, strengthens fair pricing constraints, regulates promotional and pricing behaviors, and cracks down on unfair pricing practices. Focusing on the new car sales stage, it strives to regulate prominent issues such as failure to clearly mark prices as required and false promotions. A risk warning mechanism is established, encouraging platforms to provide two-way warnings about operational and consumer risks associated with significantly low-price behavior.The main contract for the container shipping index (European route) rose by 4.00% during the day, currently trading at 1230.8 points.On February 12th, according to Futures News, the overnight SHIBOR was 1.3680%, up 0.20 basis points; the 7-day SHIBOR was 1.5180%, down 0.50 basis points; the 14-day SHIBOR was 1.5830%, down 1.70 basis points; the 1-month SHIBOR was 1.5500%, down 0.11 basis points; and the 3-month SHIBOR was 1.5800%, unchanged from the previous trading day.Applied Materials: The U.S. Department of Justice and the U.S. Securities and Exchange Commission have concluded their investigations into the company without taking any action.February 12th - Hedge funds are showing a clear shift, increasing bets on a stronger yen amid a rising "buy Japan" trend. Traders say that even though strong US jobs data has weakened market expectations for a Fed rate cut this year, bullish sentiment on the yen is still rising. On Wednesday, the yen rose against the dollar for the third consecutive trading day, remaining strong despite pressure on the dollar following the release of the US non-farm payrolls report. According to data from the Depository Trust & Clearing Corporation (DTCC), on Wednesday, trading volume of USD/JPY put options with a notional size of $100 million or more was about 50% higher than that of call options of the same size. The premium for options betting on or hedging a decline in USD/JPY over the next month has risen to its highest level since February 2nd.

Oracle Sales And Earnings Exceed Forecasts Amid Cloud Surge

Aria Thomas

Jun 14, 2022 11:50

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Oracle Corp surpassed Wall Street projections for quarterly profit and sales on Monday, as demand for its cloud products surged in tandem with the industry-wide transition to cloud-based systems.


In extended trading, shares of the Austin, Texas-based corporation whose fourth-quarter sales increased by 5 percent soared by almost 12 percent.


Safra Catz, chief executive officer of Oracle (NYSE:ORCL), stated in a statement, "We think this revenue growth increase signals that our infrastructure business has entered a hyper-growth period."


Oracle, which projected a currency headwind of 5% in the fourth quarter, up from 2% to 3% in the third quarter, forecasts significant revenue growth in its cloud business despite growing inflation and a higher dollar.


Microsoft (NASDAQ:MSFT) in April and Salesforce (NYSE:CRM) Inc in May signaled a solid future for the cloud industry as corporations raise expenditure, but Microsoft reduced its fourth-quarter profit and sales prediction earlier this month owing to unfavorable currency exchange rates.


Oracle predicted a quarterly loss of $100 million in fiscal year 2023 due to the suspension of services in Russia.


However, the business anticipates first-quarter sales growth between 17 and 18 percent, thanks to its $28 billion purchase of healthcare IT provider Cerner Corp. (NASDAQ:CERN).


Oracle's prediction was released on a day when U.S. stock markets plummeted, with the S&P 500 confirming it was in a bear market, as investors feared that aggressive interest rate rises by the Federal Reserve may drive the country into recession.


The business anticipates adjusted first-quarter EPS between $1.04 and $1.08, compared to the average analyst expectation of $1.13.


According to IBES statistics from Refinitiv, revenue for the fourth quarter ended May 31 increased to $11.84 billion, above analysts' average forecast of $11.66 billion.


Excluding adjustments, the company's earnings per share were $1.54, above analysts' predictions of $1.37.


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