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Let's check in for some market movers now with our very own normal Inda Lura, what do you have for us? While Paul and Scarlett, there is lots to keep an eye on on the market. Let's look at shares of Oracle, that's Taker orcl Of course, we know this is a stock that's really been in focus quite a bit in recent weeks, nearly doubled in value in this year alone. But we're looking at today is the news that it's looking to raise fifteen billion dollars from the US investment
grade bond market today. Essentially, it's wanting to ramp up it's spending to meet the needs that we're really seeing as it relates to the AI boom, the optimism there. It's selling its debt in as many as seven parts, and this would actually include a rare forty year bond, So lots that Wall Street is looking at right now. Shares are down about as much as three and a half percent in trading today. But I mean, of course we know that this has just been such a topical name.
Stock up about eighty three percent year to date. But let's move over into Ali Baba here. That's Tacker Baba. We're seeing sharees soaring, and this is after it height its AI budget past fifty billion dollars. So AI is clearly the story here, Scarlett and Paul. Lots of AI optimism here, and so we are seeing the stock up for its highest intra day level since October of twenty twenty one, really ripping here, stock up as much as
ten percent. The CEO is saying that he anticipates overall investment in AI accelerating to some four trillion dollars worldwide over the next five years, and so it seems as though Ali Baba is going to need to keep up with that trajectory here, and so lots of optimism that we're seeing in the market. Stock is up about one hundred and thirteen percent year today. But I did want to end things off with Adobe. That's tack her adb here.
We're seeing shares slipping down as much as three point six percent and trading today but pairing a little bit now down about three percent right now. This is after Morgan Stanley cuts the stock to equal weight from overweight. Essentially,
they're talking about decelerating digital media annual recurring revenue. As you think about recurring revenue, of course is really important for any company, but with Adobe in particular, they're really thinking about the outside concern on Adobe's ability to prove that generative AI net expansive is to its total opportunity here.
So we're seeing shares of the company down about twenty one percent so far this year, but of course this downgrade from Morgan Stanley is what's pressuring the stock today.
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