Wall Street Just Upgraded Oracle, Despite Earnings Disappointment

Market Overview - Markets celebrated the Federal Reserve's latest quarter-point cut, lowering rates to a range of 3.5% to 3.75% [2] - The central bank announced it would purchase short-term bonds, driving down short-term yields, and removed language indicating the labor market "remained low," suggesting a potential focus on supporting the jobs market over inflation [3] Oracle - Oracle reported revenue of $16.06 billion, missing analysts' expectations of $16.21 billion [4] - Software revenue was $5.88 billion, below the estimated $6.06 billion [4] Micron - UBS reiterated a buy rating on Micron with a price target of $295 ahead of earnings, increasing from a previous target of $275 [7] - HSBC initiated coverage of Micron with a buy rating and a price target of $330, citing a potential benefit from a "historic upcycle" aided by artificial intelligence [7] Netflix - Analysts at Needham maintain a buy rating on Netflix, suggesting that the company does not need to acquire Warner Bros. Discovery [8] - The firm believes that without WBD, Netflix is more global, nimble, tech-first, and has greater flexibility with Hollywood unions [8]