Dec 12th, 2023 – Today’s market performance of portfolio holding Oracle (ORCL) (0.4 units @111.10) was characterized by a huge sell-off, which caused a remarkable percentage decrease in the stock price of -12.44%. This was mainly due to the negative reaction investors had in regards to Oracle’s results for the second quarter of its current fiscal year. Not only did sales for the period largely miss the target set by analysts by around $110 million, but revenue from key sectors like cloud services and license support also rose only by 12%, compared with the same period of the previous fiscal year. The latter is a very important factor to consider, taking into account that market operators are worried that Oracle will not be able to continue competing with the main cloud sector players like Amazon, Microsoft and Alphabet.
US toy manufacturer Hasbro (HAS) share price declined by – 1.06%. The reasons behind this negative trading trend lie primarily in the decision taken by the company to cut almost 1100 jobs in the near future. The need for such a deep structural change derives from the disappointing results from toy sales for the first three quarters of 2023. This issue was addressed by the company’s CEO Chris Cocks, who stated that these problems will continue to affect the company’s performances in 2024. Portfolio holding Alphabet (GOOG) (0.8 units @133.93) (-0.79% at 16:00 EST) just lost an important legal battle, after being found guilty of monopoly through the exploitation of its app store features. This marks a major negative turning point for the Silicon valley tech giant. However, it represents an incredible victory for Epic Games, the producer of the famous video game Fortnite, given that it was the one who accused Alphabet of using Google Play app store in order to maintain its market dominance as well as impose incredibly high fees to
Author: Piero Foberti