On Friday, Oracle Corporation (ORCL) rose 1.90 percent to $60.61. For its second fiscal year, the management software solutions provider posted net income of $2.44 billion (80 cents per share), on revenue of $9.8 billion, up 1.8 percent. The Redwood City, California-based company’s earnings per share on a single-time adjustment basis were $1.06, compared to $0.9 a year ago. Generally, these statistics are higher than expected. The estimate of analysts was $1 for EPS and $9.77 billion in revenue. Safra Catz, CEO of the company, said the fiscal results of the second quarter were driven by solid revenue growth in the group’s two cloud apps, Fusion and NetSuite, which jumped 33% and 21% year-on-year, respectively.
Costco Wholesale Company (COST) rose 0.62 percent to conclude the session at $375.10. The Issaquah, Washington-based distributor, revealed quarterly results on Friday that met industry expectations, with a rise in online revenue of 86 percent. Costco made an income of $1.17 billion for the first fiscal quarter and $2.62 per share compared to $844 million a year ago. Revenues increased to $42.4 billion by 17 percent. Like-for-like growth accounted for 15%.
Ferrari N.V. (RACE) was up 0.45 percent to $214.89 on the day. For personal reasons, Ferrari’s managing director, Louis Camilleri, resigned. He will be succeeded by President John Elkann for the time being. Since July 2018, Camilleri has been running the Italian company. According to a Reuters’ source, he made the decision to resign while suffering from health issues and had to be hospitalized after being infected with Covid-19, saying his health was not the reason for his resignation.
Integrated (MA) Mastercard fell -1.24 percent to $327.42 at ring of the bell on Friday. A class action lawsuit against the credit card group, charged with overcharging more than 46 million people in Britain for a total of 14 billion pounds over a 15-year period, was upheld by the UK Supreme Court on Friday.