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The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
Let's take a look now at some stocks making news in the week ahead. I'm Nathan Hager, joined by Bloomberg Cross Asset reporter Dana Hirich. Well, Dana, we've got more tech earnings to look forward to this week, including Oracle after the close. Of course, this has been a company that's been a pretty big beneficiary of the AI buildout. So should we be looking for a blowout from Oracle?
First? I want to say that every week we're looking forward to some sort of tech earnings, right, so.
It seems like it.
Yeah, every week there's something of interest happening. So for Oracle, that's ticker all RCL. It's reporting on Wednesday, June tenth. The company was once best known for its namesake database software, but it's really found some success in providing the type of chips filled data centers and other equipment that's necessary for training and deploying AI models. And the reason I mentioned that is just so that we get a sense of what kind of read through it's giving us on
a specific sector of the economy. Shares of Oracle are up some eighteen percent, roughly eighteen percent year to date. Its last quarterly report was very strong in terms of what analysts had been expecting and what the company ended up delivering. Its last report was in March, and shares actually soared after it posted results. It said that it's closely watched infrastructure business had jumped eighty four percent to
four point nine billion dollars. The company also at the time said that revenue would reach ninety billion in the fiscal year beginning in June. Also at the time, it handily beat analysts project on a number of other measures. So the takeaway was that we were sort of seeing we were getting this through line on AI spending. It gave investors a really good look at how demand for
AI centers was going. There had been in the past some concern that maybe that a specific corner of the market was maybe slowing down, but then Oracle gave us those results. Looking ahead, of course, we don't exactly know what the company is going to be telling us, but we do have some analyst projections, and we do have a report from Bloomberg Intelligence where the Analysts there say Oracle's fiscal four Q results will likely reflect another quarter of robust AI infrastructure demand.
Also this week after the close on Thursday, we're going to hear from Adobe. Now, you got to think this company's got a lot to show for with all the fears around apocalypse or whatever we're calling it now.
Yeah, exactly. And I love when a company can tell us a specific story, you know, one of especially with like Bellweather companies that can tell us something that's happening within a certain sector of the economy or the market, like we were just saying with Oracle. So for Adobe ticker ADB, reporting on June eleventh, after the market close, shares are not doing so great this year. They're down
some twenty five percent so far this year. When we think of Adobe, we think of its software, it's creative tools, it's digital marketing offerings, and also of course PDFs, which I can never figure out how to edit or save or print seriously, but a lot of Adobe's revenues generated via those subscriptions. Analysts will be paying attention to that. But Adobe actually has a very interesting theme and the story going on right now, which is that there are
talks about who it's next CEO will be. Bloomberg just reported that the company is eyeing to internal leaders for its quest for a new chief executive officer, and Adobe has hired a well known search firm to look at some external candidates who could be suited to running the company in our AI era. And so there are two contenders of two of its main business units who are sort of like the leading in house candidates, and then you know whoever else that they're looking at from the outside.
So analysts really are thinking about, you know what, will we get some clarity around the CEO transition. It's sure to be a key focus on the earnings call.
So maybe more than just numbers in this sortingm exactly exactly.
It might even supersede some of the financial metrics themselves, which is really interesting.
Yeah, it certainly is not just tech. Later on this week as well, we're going to hear from Lenar reporting their earnings. It's been pretty tough for the homebuilders in this rate and price environment.
Buildana exactly another great example of a company that's giving us a look at, in this case the housing market. The home building market ticker LN shares are also lower so far this year. The company is reporting after the close on Thursday at June eleventh. This is one of the largest US homebuilders by revenue, and again another great
read on homebuilder sentiment. So just in terms of some of the data that we've seen for new home sales, for instance, in April, they had fallen month over month some six percent to around six hundred and twenty two thousand.
US homebuilder sentiment had rebounded in May, but in general it sort of remains pretty low, given affordability concerns weighing on a lot of consumers and also weighing on the spring selling season, and so it's important to keep those things in mind in terms of what the housing market looks like and whether or not people think we're going to potentially continue to see a lackluster housing market. Persist you in future quarters.
The Stock Movers report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.