Oracle Misses in Q3, Gains +22% - Plus Jobs Revisions & More

Company Developments - Nebius, an Amsterdam-based GPU creator, is engaging in a $17.4 billion AI infrastructure deal with Microsoft, leading to a 49% increase in Nebius shares [1] - UnitedHealth's shares rose by 8.5% after it was reported that 78% of its Medicare Advantage enrollees qualify for federal bonus payments, although the stock remains down 31% year to date [2] - Apple's unveiling of the iPhone 17 and iPhone Air model did not boost investor interest, resulting in a 1.5% decline in shares despite the Nasdaq reaching an all-time high [3] - Oracle reported fiscal Q3 earnings of $1.47 per share, meeting consensus, but revenues of $14.93 billion fell short of expectations. Despite this, shares surged 22% due to significant cloud revenue growth [5][6] Industry Insights - Oracle's cloud infrastructure revenue grew by 55% year over year to $3.3 billion, with Remaining Performance Obligations (RPO) backlog increasing by 359% and Multi-cloud Database Revenue expanding by 1529% [6] - The U.S. Bureau of Labor Statistics reported a record 911,000 downward revision in job numbers over the past year, indicating a weaker labor market [7][8] - The upcoming Producer Price Index (PPI) report is expected to show a decrease in inflation, which may influence Federal Reserve interest rate decisions [11][12][13]