Please select the second broker

Author: Alan LittleDate: 2020-12-14

Oracle (ORCL) up 1.9%, Lululemon (LULU) down 6% on reports

Oracle (ORCL), Costco (COST) and Lululemon (LULU) were among the companies to post quarterly reports on a busy day of trading on Friday that saw broader markets struggle.

Oracle closed 1.9% higher at $60.61 after Q2 beats and a slew of modest price target upgrades from analysts helped the computer software company to rally during the late afternoon.

The Redwood City-based enterprise logged $1.06 adjusted earnings per share and $9.8bn revenue versus the $1 and $9.77bn Wall Street consensus.

Analysts were not blown away by the numbers, with several claiming that they were waiting on stronger revenue growth.

ORCL Stock Chart
ORCL Stock Chart

BMO Capital Markets, adding a single dollar to a new $64 price target, said that Oracle “has had a very mixed track record on hitting targets, particularly [revenue]-growth targets”.

Oracle’s chief executive officer Safra Catz revealed in a conference call that internal revenue forecasts for Q3 are $10bn-$10.4bn.

Costco also eked out gains of 0.62% at the end of the week after posting better-than-expected results for fiscal Q1.

The retailer’s $2.29 adjusted earnings per share and $43.21bn revenue were above the $2.09 and $43.08bn expectations.


Analysts were more bullish about Costco, with Cowen noting that the company is now in a great position to “continue delivering robust earnings growth”.

Oppenheimer, like Cowen, reaffirmed an outperform rating and listed seven reasons to support its position.

They included “open-ended worldwide growth prospects”, “strong team management” and a “unique and improving consumer value proposition”.

Meanwhile, Lululemon (LULU) shares slumped 6.71% even though the athletic apparel retailer delivered Q3 beats and Jim Cramer urged investors to buy into the stock.

Lululemon said that sales jumped 22% year over year to $1.1bn, while earnings per share came in at $1.16 versus the $0.88 forecast.

LULU Stock Chart
LULU Stock Chart




Scam Brokers, Broker Complaints

Are you aware of a scam broker or want to make a broker complaint?

We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.

We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.

We use the information you give us to decide if we want to continue to promote a broker on our site.

Your scam broker complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.