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Oracle (ORCL) pops as Q3 results, guidance top estimates; updates on capital funding plans. (00:14) Nintendo (NTDOY) soars 10.5% in Tokyo on Pokémon hit, Super Mario movie anticipation. (01:25) Trump unveils plan for first U.S. oil refinery in 50 years with backing from India’s Reliance. (02:05)
This is an abridged transcript.
Oracle (ORCL) is on our biggest movers list this morning.
For the period ending Feb. 28, Oracle said it earned an adjusted $1.79 per share as revenue rose 22% year-over-year to $17.19B. Analysts had expected adjusted earnings of $1.70 per share on $16.89B in revenue.
Looking to the fourth-quarter of fiscal 2026, Oracle said it expects revenue to grow between 18% and 20% in constant currency and 19% to 21% in U.S. dollars, translating to a range of $18.93B to $19.24B. Analysts were expecting $19.11B in revenue for the coming quarter.
Adjusted earnings are expected to be between $1.92 and $1.96 per share, above the $1.93 per share estimate.
Oracle also said it expects fiscal 2027 revenue to be $90B, up from its previous guidance.
Nintendo (NTDOY) rallied on Wednesday on the success of its new Pokémon game.
The stock climbed as much as 10.5% in Tokyo, its steepest rise since April, boosted by anticipation of an upcoming Super Mario movie.
The rally comes as physical copies of Pokémon Pokopia have sold out at several major retailers in the U.S., according to reports.
According to Bloomberg, Jefferies analyst Atul Goyal wrote in a report, The game, released exclusively for the Switch 2 console on March 5, is boosting momentum “amid memory cost headwinds, which have been a big drag on the stock price.”
President Trump said that the U.S. will build its first new oil refinery in 50 years.
The refinery will be built in Brownsville, Texas, with investment from India’s Reliance Industries.
“THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN U.S. HISTORY,” Trump said in a post on Truth Social.
The project, led by America First Refining, aims to process 168,000 barrels per day of U.S. shale oil. The work could begin as early as Q2 2026. The refinery will process 1.2B barrels of U.S. light shale oil, valued at $125B, and produce 50B gallons of refined products worth $175B.
The new refinery will “strengthen our National Security, boost American Energy production, deliver Billions of Dollars in Economic impact, and will be THE CLEANEST REFINERY IN THE WORLD,” Trump added.
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Catalyst watch:
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Anheuser-Busch InBev (BUD) CEO Michel Doukeris will give a keynote speech at the UBS Global Consumer Retail Conference in New York City.
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Celsius Holdings (CELH) CFO Jarrod Langhans will present at the UBS Global Consumer Retail Conference in New York City.
Dow, S&P and Nasdaq futures are in the red. Crude oil is up 5.8% at $88. Bitcoin is down 0.6% at $69,000. Gold is up 0.1% at $5,194.
The FTSE 100 is down 1% and the DAX is down 1.7%.
The biggest movers for the day premarket: Kosmos Energy (KOS) -16% – Shares plunged after the company announced a public offering of 97.5M common shares priced at $1.90 each, expected to generate gross proceeds of about $185.25M.
Economic calendar:
Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.
