Bank

Cloud

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<p class="has-drop-cap">Wall Street saw divergent fortunes for tech giant Oracle (<a href="https://tokenist.com/investing/how-to-buy-shares-online/" rel="noopener noreferrer nofollow" class="deco-link">NYSE: ORCL</a>) and banking behemoth JPMorgan Chase (<a href="https://tokenist.com/investing/how-to-invest-in-stocks/" class="deco-link" rel="noopener noreferrer nofollow">NYSE: JPM</a>) on Tuesday, as investors responded to earnings results and executive statements. Oracle shares surged on AI-driven growth, while JPMorgan fell amid <a href="https://www.cnbc.com/2024/09/10/jpmorgan-chase-shares-drop-nearly-7percent-after-bank-tempers-guidance-on-net-interest-income.html" target="_blank" aria-label="tempered expectations (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">tempered expectations</a> for interest income.</p>
<h3 id="oracle-corporation-orcl-shares-skyrocket-on-ai-results">Oracle Corporation (ORCL) Shares Skyrocket on AI Results</h3>
<p>Oracle shares skyrocketed more than 10% on Tuesday, reaching $156.07 by early afternoon trading. The company’s first-quarter results exceeded analyst expectations, with overall revenue hitting $13.31 billion. Cloud product revenue, a key growth driver, jumped 21% to $5.6 billion.</p>
<p>The software company’s push to integrate artificial intelligence into its cloud services has paid dividends, positioning Oracle as a more affordable alternative to tech giants Microsoft (NASDAQ: MSFT) and Amazon (NASDAQ: AMZN). Strategic partnerships with rival cloud providers, including Amazon Web Services and Google Cloud, have further bolstered Oracle’s market position.</p>
<p>If current gains hold, Oracle could add approximately $39 billion to its market value. The stock has outperformed the broader tech sector this year, rising over 32% and prompting at least 10 brokerages to raise their target prices since Monday.</p>
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<h3 id="jpmorgan-chase-co-jpm-shares-plummet-after-bank-lowers-nii-expectations">JPMorgan Chase &amp; Co. (JPM) Shares Plummet After Bank Lowers NII Expectations</h3>
<p>In contrast, JPMorgan Chase shares tumbled about 6% to $202.97, following cautionary statements from bank president Daniel Pinto regarding interest income expectations. The bank had previously projected its Net Interest Income (NII) to reach $91 billion this year, excluding its markets division.</p>
<p>Pinto described current NII forecasts as “a bit too high” without offering a revised estimate, suggesting that next year could be “a bit more challenging” for the banking giant. Despite the gloomy outlook, he indicated that investment banking fees could rise by 15% in the third quarter, while trading revenue is expected to remain flat or increase slightly.</p>
<p>The pessimistic forecast triggered a broader sell-off in bank stocks, with the KBW Bank Index falling 3.5%. JPMorgan’s cautious stance follows similar guidance from Goldman Sachs, whose chief executive warned of a potential 10% drop in third-quarter trading revenue.</p>
<p>As of 1:25 PM EDT, JPMorgan’s market capitalization stood at $577.272 billion, with a <a href="https://tokenist.com/investing/p-e-ratio/" rel="noopener noreferrer nofollow" class="deco-link">price-to-earnings ratio</a> of 12.09. Despite the day’s losses, the stock has still outperformed <a href="https://tokenist.com/investing/spx-vs-spy/" class="deco-link" rel="noopener noreferrer nofollow">the S&amp;P 500</a> year-to-date, with a 21.40% return compared to the index’s 14.78% gain.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em> <em>Stock prices quoted at the time of writing (01:25 PM EDT).</em><br></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/stocks-to-watch-today-oracle-and-jp-morgan-chase/">Stocks to Watch Today: Oracle and JP Morgan Chase</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Stocks to Watch Today: Oracle and JP Morgan Chase

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