Shares of Oracle Corp. tanked 9.5% early Tuesday, enough to pace the S&P 500’s premarket decliners, in the wake of the business software giant’s...
Shares of Oracle Corp.
tanked 9.5% early Tuesday, enough to pace the S&P 500’s SPX, +0.67% premarket decliners, in the wake of the business software giant’s disappointing earnings report and revenue guidance. The stock’s selloff, which comes after it closed Monday at a record $126.71, is on track to be the biggest one-day post-earnings performance since March 21, 2013, when the stock dropped 9.7% after the company reported fiscal third-quarter results. The stock’s implied price decline would shave roughly $32.
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