10.09.2024
Oracle exceeds expectations +
JPMorgan resumes Hapag-Lloyd with 'Underweight' + China's exports rise faster than expected + Apple presentation hardly moves
Oracle $ORCL (+1,67%) reported first-quarter results late Monday that beat Wall Street estimates, driven by the strength of the software maker's cloud offerings. Adjusted earnings per share rose to $1.39 in the three months through August from $1.19 a year earlier, beating the consensus of $1.33 polled by Capital IQ. Revenue rose 7% to $13.31 billion, beating analysts' estimate of $13.24 billion. Shares rose 7.9% in after-hours trading. Cloud services and license support revenue rose 10% to $10.52 billion, while the cloud licenses and on-premise licenses segment grew 7% to $870 million. The hardware and services segments recorded declines of 8% and 9% respectively. Oracle's remaining performance obligations - future obligations from contractual relationships - increased 53% to a record $99 billion, which will accelerate revenue growth throughout fiscal 2025.
The US bank JPMorgan $JPM (+2,19%) has increased the valuation of the shares of Hapag-Lloyd $HLAG (-2,2%) with an "Underweight" rating and a price target of 85 euros. In the European transportation and logistics sector, analyst Alexia Dogani focuses on companies with strong competitive positions with high entry barriers and significant pricing power such as DHL $DHL (-0,87%) and InPost $INPST (-2%). She also likes companies such as DSV $DSV (-0,73%) and Kuehne + Nagel $KNIN (+0,11%)which have consolidated the market in order to improve cost development through economies of scale and leverage. On the other hand, she is skeptical about container shipping companies such as Moller-Maersk $MAERSK B (-3,42%), ZIM $ZIM (-10,19%) and Hapag-Lloyd. Dark clouds are gathering over them, as interest rates have peaked and the supply of capacity continues to increase.
A glimmer of hope for China's economic recovery: exports from the second-largest economy grew more strongly than expected in August. According to data from the Beijing customs authority, exports rose by 8.7 percent year-on-year to the equivalent of 309 billion US dollars (around 280 billion euros). This means that Chinese exports have increased for the fifth month in a row. Imports increased by 0.5 percent. Analysts had previously expected exports to increase by 6.6 percent, while they expected imports to rise by 2.5 percent.
In the context of the presentation of new AI-enabled iPhones and other innovations, the share price rose by Apple $AAPL (+0,52%) (unchanged) were volatile within narrow limits, but turned slightly positive at the end. According to JP Morgan analyst Samik Chatterjee, a large part of the new developments had already been leaked via leaks in the supply chain.
- iPhone 16 Pro (Max) & 16 (Plus): Larger batteries and the A18 (Pro) for the same price
- Apple AirPods 4: New design and ANC for the open in-ears
- Apple Watch 10: Thinner smartwatch with new OLED display and new water sensors
- Apple Watch: not an Ultra 3, but a black Ultra 2
Tuesday: Stock market dates, economic data, quarterly figures
Quarterly figures / company dates USA / Asia
17:00 Boeing deliveries 8/24
18:00 Nike AGM
Untimed: Gamestop Corporation quarterly figures
Quarterly figures / Company dates Europe
11:00 Jost Werke Capital Markets Day
Untimed: Renk Group Capital Markets Day
Economic data
- 04:00 CN: Foreign trade August trade balance PROGNOSE: +80.00 bn USD previous: +84.65 bn Euro Exports PROGNOSE: +6.6% yoy previous: +7.0% yoy Imports PROGNOSE: +2.5% yoy previous: +7.2% yoy
- 08:00 DE: Consumer prices (final) August PROGNOSE: -0.1% yoy/+1.9% yoy Preliminary: -0.1% yoy/+1.9% yoy Previous: +0.3% yoy/+2.3% yoy HICP PROGNOSE: -0.2% yoy/+2.0% yoy Preliminary: -0.2% yoy/+2.0% yoy Previous: +0.5% yoy/+2.6% yoy
- 08:00 UK: Labor market data August unemployment benefit recipients Unemployment rate 3 months (ILO) FORECAST: 4.2% previous: 4.2%
- 23:59 US: 3h to go until the TV debate between the candidates for the US presidency Kamala Harris and Donald Trump
