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Squawk on the Street
Oracle Slides, Morgan Stanley's Jonas Ups Tesla PT to $400, Google's "Quantum" Leap 12/10/24
Dec 10, 2024
Financial reactions are heating up as Oracle's shares take a tumble after disappointing results. Meanwhile, Tesla's stock gets a boost from an analyst's price target hike to $400. Google's groundbreaking progress in quantum computing steals the spotlight, alongside fascinating advancements in AI with OpenAI's new video generation model. Boeing resumes 737 MAX production, and Alaska Airlines is on the rise. The potential of a tech hub is emerging in Salt Lake City, aiming to rival Silicon Valley.
43:18
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Quick takeaways
- Oracle's disappointing quarterly results and weak guidance spotlight the challenges of sustaining growth in the competitive cloud market.
- Tesla's stock surge, spurred by analyst upgrades, reflects growing investor confidence but raises concerns over the sustainability of its valuation.
Deep dives
Oracle's Earnings Report
Oracle's recent earnings report revealed a financial shortfall, with revenue falling short of investor expectations despite growth in cloud services driven by AI demand. Analysts noted that current quarter guidance was also below consensus, causing a notable drop in the stock prior to the market opening. Jim Cramer expressed optimism about Oracle's long-term potential, highlighting that the company's leadership, including CEO Larry Ellison, continues to champion its position in the cloud market. Some analysts encouraged caution against selling shares, suggesting that this could present a buying opportunity for investors.
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