On this episode of Stock Movers:
– Oracle (ORCL) released earnings after the bell. The stock fell in extended trading after reporting a jump in spending on AI data centers and other equipment that is taking longer to translate into cloud revenue than investors want.
– GE Vernova (GEV) had its biggest one-day gain on record, closing 15.6% higher. Shares soared after the company doubled its dividend, increased the scope for share buybacks and raised earnings projections. The company has benefited from US demand for electricity driven by data centers, artificial intelligence and overall electrification of the economy, with shares rising about 90% this year.
– Uber (UBER) shares declined on Wednesday as Wedbush analyst Scott Devitt sees Tesla and Waymo ramping up their autonomous vehicle efforts into 2026, thereby threatening current rideshare services. Uber also recently discontinued its monthly EV bonuses.
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Oracle Falls After Earnings, GE Vernova Soars, Uber Declines on Analyst Concerns
