Shares of tech giant Oracle jumped 1 per cent after beating expectations on top and bottom line, now topping Wall Street’s estimates for the fiscal fourth quarter.
Retailer Urban Outfitter gained 3.6 per cent after being upgraded to overweight by Morgan Stanley, due to low valuation relative to peers and improving business fundamentals.
Video Game company GameStop is up 12.4 per cent today after chairman Ryan Cohen disclosed he had purchased US$10.8 million of stock in the company, as investors seem to follow the confidence of the chairman.
New Zealand
New Zealand waste-management services company WasteCo fell 4 per cent to 7.2 cents after announcing that it is raising $4.32 million of new capital at 6.5 cents per share.
Vista, a cinema software company, moved in the other direction, as it rose 3.4 per cent on the day. This is due to Vista having a bigger global exposure than domestic, which led to it gaining off the back of a positive US market on Monday.
Australia
The ASX 200 finished relatively unchanged on the day, up 0.2 per cent, with the technology sector being the biggest winner on the day up 2 per cent due to optimism of the NASDAQ. This was offset by energy and basic material stocks down 1.2 per cent and 0.8 per cent respectively, as the price of commodities continues to fall.
Shares in Domino’s Pizza dropped 5.9 per cent to the lowest price in four years and down 34 per cent year to date. The company plans on closing stores, restructuring operations, and cutting costs, as a decrease in earnings does not seem to be ending soon.
Australia’s largest cybersecurity company, Tesserent, increased 145 per cent on the day, finishing at 12 cents per share after a takeover bid by French defence company Thales, at a 165 per cent premium of 13 cents per share. It finished trading on Friday at 4.6 cents.
Cedar Woods Property downgraded its full-year net profit forecast to A$30 million, which caused its share price to retreat 2 per cent on the day. The company announced a downgrade to its forecasts due to “adverse weather conditions and supply chain constraints”.
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