Investopedia Markets News (all except PF)

Oracle shares are down about 50% in the last 12 months.
Credit: Michael Nagle / Bloomberg via Getty Images

Key Takeaways

• Several Wall Street analysts suggested Oracle’s stock could be due for a rebound after strong quarterly results.
• The shares have taken a big hit in recent months amid worries about the company’s spending to finance its data center expansion.

Could Oracle’s strong earnings report lead to turnaround in the stock?

Oracle (ORCL) shares popped more than 8% Friday morning before paring back their early gains, a day after the cloud infrastructure provider beat analysts’ estimates with its fiscal first-quarter results. The shares, which were up less than 1% in recent trading, have lost nearly half of their value from the same time last year, as worries around the company’s spending to finance its data center expansion and reliance on a few large customers have pressured sentiment. 

JPMorgan analysts told clients Friday they believe Oracle’s strong showing on the back of growth in its cloud business should “help in addressing the key concerns that have weighed on the shares.” Analysts from Citi said they believe the results “checked nearly every box,” and maintained their “buy” rating and $330 price target.

Morgan Stanley analysts were more cautious, with neutral rating and $210 price target. They called Oracle’s performance “impressive,” but said they’ll be waiting to see more evidence of the company’s ability to manage its margins and bring more compute capacity online.

While ratings are still in flux, most Wall Street analysts are bullish on Oracle’s stock. Of the 12 analysts tracked by Visible Alpha, 10 recommend buying the shares, compared to one neutral and one “sell” rating. Their mean target hovers around $238. 

Oracle shares are down more than 20% since the year began.

Shoppers at a mall in Charlotte, North Carolina on Sunday, Aug. 30, 2026.
Credit: Travis Dove / Bloomberg via Getty Images

Key Takeaways

• The Consumer Price Index rose 3.4% in August from the same month in 2025, with the “core” index excluding food and energy up 2.4% annually, above the Fed’s 2% target.
• The report was largely in line with forecasters’ expectations and showed few signs of inflation descending.
• Economists said the report adds pressure on the Fed to hike interest rates at its next meeting to counteract inflation.

A highly anticipated report on the Consumer Price Index on Friday showed inflation stayed elevated in August, with few signs of descending to the Federal Reserve’s 2% target.

The Bureau of Labor Statistics reported consumer prices rose 3.4% over 12 months in August, the same as in July. That was on par with economists’ expectations, according to a survey by Dow Jones Newswires and The Wall Street Journal.

The “core” index, which excludes the volatile prices for food and energy, rose 2.4% over the year, down from a 2.5% increase in July and also matching expectations, but well above the Federal Reserve’s target of a 2% annual increase. On a monthly basis, however, core inflation was higher than expected, rising 0.3% from July, rather than the anticipated 0.2%.

The slightly hotter-than-expected core inflation could be the straw that broke the camel’s back when it comes to the Fed’s interest rate policy. The Federal Open Market Committee meets next week to decide whether to raise the central bank’s key interest rate to push down inflation.

Higher core inflation, plus the recent surge in fuel prices due to the escalation of the war in Iran, adds pressure on the Fed to raise rates. Higher rates would push up borrowing costs across all kinds of loans throughout the economy.

Traders were pricing in an 86% chance of a quarter-point rate hike Friday morning after the report, up from 70% beforehand, according to CME Group’s FedWatch tool, which forecasts rate movements based on fed funds futures trading data.

What This Means For The Economy

The report shows inflation was still hot in August, even before renewed fighting in the Middle East pushed oil prices higher after Labor Day.

“The upside surprise to core inflation means that the Fed is running out of reasons to wait,” Angelo Kourkafas, senior global strategist of investment strategy at Edward Jones, wrote in a commentary. “While the headline annual inflation rate came in as expected, the stronger-than-anticipated increase in core services inflation adds to concerns that price pressures may be broadening, strengthening the case for a near-term policy response.”

Much of the inflationary pressure came from the gas pump, with a 3.9% increase in gasoline prices from July accounting for a third of the 0.4% monthly increase in the overall index. A 2.7% increase in air fares and a 0.3% rise in shelter—up from a 0.1% increase in July—also contributed, as did a 0.3% increase in new and a 0.4% increased in used cars and trucks.

Some important prices fell, although they were outweighed by hikes elsewhere. Electricity decreased 0.4%, motor vehicle insurance declined 0.8%, and medical care services decreased 0.2% from July.

And a decelerating year-over-year core inflation rate could give some Fed officials room to argue for keeping the fed funds rate steady at its current range of 3.5% to 3.75% rather than hiking it. Overall, though, the report tilted the odds in favor of a hike, economists said.

“The renewed march higher in oil, gasoline and diesel prices add to concerns that higher energy prices could spill over to other goods and services and inflation expectations,” Kathy Bostjancic, chief economist at Nationwide, wrote in a commentary. “As such, we are now looking for the Fed to raise rates by 25 basis points at next week’s policy meeting.”

News of the day for Sept. 11, 2026

The major stock indexes are on track to post losses for the week.
Credit: Spencer Platt / Getty Images

Stock futures are higher after four days of losses for major indexes as investors await a key inflation report; the August CPI report is the final piece of major economic data before the Fed makes a decision on interest rates next week; Oracle shares are soaring after a strong earnings report from the tech giant; Adobe shares are falling despite better-than-expected results from the software maker; and Kroger stock is sinking after the grocery chain released its earnings report . Here’s what you need to know today.

Stock Futures Rise as Oil, Treasury Yields Pull Back

Stock futures are gaining this morning as the market looks to close out a down week on a high note. Futures tied to the Dow Jones Industrial Average and S&P 500 were up 0.6% recently, while tech-heavy Nasdaq futures added 0.7%. Heading into Friday trading, the Dow is down 2.5% for the week, which would be its biggest one-week drop since March. The major indexes all fell yesterday as oil prices and and Treasury yields continued surging. WTI crude oil futures were down 3% at $99 per barrel recently after hitting their highest level since May yesterday as the Iran war shows no end in sight. The yield on the 10-year Treasury, which is near a two-decade high amid concerns about inflation and rising U.S. debt, was at 4.96%, down from 4.97% at yesterday’s close. Gold futures were down 0.8% at $4,375 an ounce, while bitcoin was little changed at $77,000.

CPI Report Comes Ahead of Next Week’s Fed Meeting

Investors will get a final look at the state of the economy ahead of next week’s Federal Reserve meeting with this morning’s release of the Consumer Price Index report. The data, due to be released at 8:30 a.m. ET, is expected to show that prices rose 3.4% in the 12 months ending in August, the same figure as July, while “core” inflation excluding volatile food and fuel prices is expected to come in at 2.4%, down from the previous month’s 2.5% mark. The sharp rise in oil prices recently amid the escalation of fighting in the Middle East is leading to higher prices at the pump and will spark broader inflationary pressures. Those developments have sent government bond yields higher and boosted market expectations that the Fed will raise its benchmark interest rate.

Oracle Stock Surges on Strong Results, Outlook

Oracle (ORCL) shares are rising after the tech giant posted strong quarterly results and provided a rosy outlook. Oracle reported adjusted earnings per share of $1.92 on a 30% year-over-year jump in revenue to a record $19.35 billion in its fiscal first quarter. Both figures topped analysts’ estimates compiled by Visible Alpha as cloud infrastructure revenues more than doubled. Its backlog rose to a record $664 billion. Oracle said it expects current-quarter revenue growth of 30% to 34%, and full-year revenue of at least $90 billion, ahead of consensus projections. Oracle shares were up 6% in recent premarket trading after entering the day down more than 20% this year and 50% in the last 12 months.

Adobe’s Beat-And-Raise Fails to Lift the Stock

Adobe (ADBE) posted quarterly results that topped analysts’ estimates and lifted its full-year outlook, but it wasn’t enough to boost the stock. The creative software maker posted adjusted earnings per share of $6.13 on a 13% year-over-year rise in revenue to a record $6.76 billion in its fiscal third quarter, ahead of analysts’ expectations. The company forecast current-quarter revenue of $6.80 billion to $6.85 billion, ahead of consensus projections, and lifted its full-year outlook. Still, shares of Adobe were down more than 4% in premarket trading. The stock has taken a hit in recent months amid worries about AI disruption and uncertainty around its leadership. The company is set to get a new CEO in December.

Kroger Stock Slips on Mixed Results

Kroger (KR) shares are falling after the grocery chain’s results came in mixed. Kroger said it earned an adjusted $1.09 per share in the second quarter, topping estimates, while sales of $34.62 billion and comparable sales growth of 0.2% each fell just short of estimates. Kroger also trimmed its comparable sales forecast for the year, now expecting them to grow by less than 1%. The retailer has cut prices in recent months to help win over customers with strained budgets. Kroger has also continued its efforts to expand since its deal to merge with Albertsons (ACI) was blocked, announcing a deal earlier in the quarter to buy Giant Eagle, a grocery chain across several states. Kroger shares were down nearly 3% ahead of the opening bell, after entering the day down about 25% from a record high set back in March.

Through Thursday’s close, Oracle shares were down more than 50% from last September’s record high.
Credit: Damian Lemanski / Bloomberg / Getty Images

Key Takeaways

• Oracle shares surged in extended trading Thursday after the tech giant reported record results and gave a rosy outlook.
• Revenue from Oracle’s cloud infrastructure business more than doubled from a year ago as more data center capacity came online.

Oracle’s stock is surging on gains in its cloud infrastructure business.

Shares of Oracle were up more than 6% in extended trading Thursday, rising after the database and cloud infrastructure giant posted quarterly results that topped analysts’ estimates and gave a rosy outlook. Oracle reported adjusted earnings per share of $1.92 on a 30% year-over-year rise in revenue to a record $19.35 billion in its fiscal first quarter. Both figures topped analysts’ estimates compiled by Visible Alpha.

Oracle said the results reflected “strong execution in our infrastructure business.” Revenue from the segment more than doubled to $7.4 billion as the company brought more data center capacity online.

“Customer demand for AI Cloud Training and Inferencing Services continues to grow faster than supply,” Oracle said in a statement. The company said it booked more than $30 billion of new AI cloud contracts in the quarter without requiring new infrastructure spending.

Its backlog rose to a record $664 billion, above the $639.89 billion analysts had called for.

Oracle said it expects current-quarter revenue growth of 30% to 34%, and full-year revenue of at least $90 billion, ahead of consensus projections.

The results and outlook could help improve confidence in Oracle’s stock, which has pulled back over the past year amid worries about its spending on AI infrastructure and exposure to a few large AI companies.

Shares of Oracle fell some 5% in Thursday’s regular session, leaving them off more than 50% from last September’s record highs.

Nike shares have lost more than 40% of their value since the start of the year.
Credit: Milad Payami / FIBA via Getty Images

Key Takeaways

• Morgan Stanley analysts reinstated coverage of Nike on Thursday with an “underweight” rating and Street-low price target of $31.
• The analysts said they believe the consensus forecast for Nike “embeds too much growth too soon–particularly in China.”

Nike’s stock has had a tough time lately. One group of analysts says it could get even worse.

Analysts at Morgan Stanley relaunched coverage of Nike (NKE) Thursday with an “underweight” rating and a Street-low target of $31, well below the Visible Alpha consensus around $48. The shares ended down about 2% Thursday to a fresh 12-year low under $37. 

Only one of the other 13 analysts tracked by Visible Alpha has recommended selling the shares, with 10 neutral and two “buy” ratings.

The consensus forecast for Nike “embeds too much growth too soon–particularly in China,” Morgan Stanley wrote, citing macroeconomic headwinds and competition concerns. The analysts said they believe Nike’s current valuation is out of touch with an “increasingly fragmented” sportswear landscape.

The apparel maker is approaching two years since CEO Elliott Hill took over in late 2024. The company also brought on a new CFO back in August. The analysts said the CFO change, plus a “pressured” backdrop across athletic apparel, could make the company’s upcoming earnings report in October or its annual investor day in November a good time for Nike to “reset expectations” about the pace of its turnaround.

Thursday’s slide leaves Nike shares down more than 40% from the start of the year.

Off The Charts: The Visual Says It All

President Donald Trump speaks on stage on the first day of the 2026 Republican National Convention at the American Airlines Center on Sept. 9.
Credit: Andrew Harnik / Getty Images

Key Takeaways

• President Donald Trump promised to send $5,000 to U.S. citizens if the Republicans win the midterm elections in November.
• The checks would total $1.3 trillion, about the size of the U.S. military’s 2026 budget.
• If that and other promised cash payments were approved by Congress and sent out, the total amount would exceed the cost of any government program.

President Donald Trump’s promise to send every U.S. adult a $5,000 “Trump Dividend” would be the largest cash payment from the government in dollar terms in history, with a cost to rival that of the biggest federal programs.

Speaking at a Republican midterm convention in Dallas Wednesday evening, Trump pledged to send $5,000 to every U.S. adult if Republicans retain control of both houses of Congress after November.

If checks went to each of the 267 million people over 18 in the U.S., the checks would cost the government $1.35 trillion, about as much as was allocated to the military in 2026. The checks would be more than triple the $1,200 COVID-19 relief checks Trump’s administration and Congress sent out in 2020 after the pandemic hit.

“Because of our tremendous strength and success economically, I will issue a dividend to every adult citizen in the United States of America for $5,000,” Trump said. “Very much like a successful company will do a cash distribution to its shareholders.”

What This Means For The Economy

While the $5,000 checks would help household budgets, critics say the move would stoke inflation and destabilize the financial system.

The idea drew criticism from both sides of the political aisle. The Center for a Responsible Federal Budget, a think tank that advocates for smaller spending deficits, called it “fundamentally unserious.”

“Debt is now as large as our entire economy, deficits are running $2 trillion per year, inflation is about 3.5%, and the 10-year Treasury yield is approaching 5%,” CRFB president Maya MacGuinness wrote in a statement. “This half-baked political scheme would make this all worse – exploding the deficit, ginning up inflation, and further driving up the cost of borrowing throughout the economy.”

Vice President J.D. Vance, in an appearance on Fox News, said the checks would be paid for by the “vast amounts of revenue” generated by the tariffs Trump imposed starting in 2025. However, Import taxes added only $133 billion—about a tenth of the proposed checks—to government coffers after refunding companies for tariffs deemed illegal by the Supreme Court in February, the Penn-Wharton Budget Model estimated.

The Trump Dividend is also not the only cash payment the president has promised.

Last year, Trump said he would send payments equalling 20% of the savings identified by Elon Musk’s Department of Government Efficiency, which had set a goal of cutting government spending by $2 trillion. (In the end, DOGE found $215 billion in savings before being shut down, although the Government Accountability Office noted that much of the group’s accounting of the savings it found was “incorrect or lacked supporting evidence.”) Had those savings materialized, they would have resulted in $400 billion being sent to taxpayers, or about $1,500 per adult.

Trump also promised last year to send $2,000 “tariff rebate” checks to middle and lower-class Americans. It was unclear whether the Trump Dividends replaced or added to that earlier promise, which the CRFB estimated would cost $600 billion if distributed with income criteria similar to those used for COVID-era government stimulus checks.

Although neither of those proposals has come to fruition, Trump has also sent or promised smaller amounts of money to more limited groups of taxpayers. On Thursday, the administration said it would pay $500 each to about 1 million people on Obamacare plans, who they said had been overcharged. In January, the military sent $1,776 “Warrior Dividend” checks to 1.4 million service members.

Should the payments be delivered as promised, they would undermine Trump’s repeated campaign promises to pay off the national debt, which is at a record $40 trillion and climbing.

Trump pushed back against criticism Friday in a social media post, saying the checks would be given to “all Adults in the United States.”

“When I say something, I mean it! The $5,000 Dividend will happen because the People of our Country deserve it,” he wrote.

Correction, Sept. 10, 2026—A previous version of this story incorrectly identified the value of the 2020 stimulus checks.
Update, Sept. 11, 2026—This story was updated to include President Donald Trump’s social media post. This article was originally published Sept. 10, 2026.

A convenience store at a Buc-ee’s gas station in Robertsdale, Alabama, on Thursday, Sept. 3.
Credit: Micah Green / Bloomberg via Getty Images

Key Takeaways

• The Consumer Price Index is expected to rise 3.4% over 12 months, with core prices increasing 2.4% according to forecasts.
• Rising fuel prices have pushed up the overall inflation rate, while relatively low housing inflation is keeping “core” inflation running cooler.
• Higher-than-expected inflation could cement expectations that the Fed will raise interest rates at its meeting next week.

A highly anticipated and consequential report on the Consumer Price Index on Friday is likely to show inflation stayed elevated in August.

The report from the Bureau of Labor Statistics is expected to show consumer prices rose 3.4% over 12 months in August, the same as in July, according to a survey of economists by Dow Jones Newswires and The Wall Street Journal. The “core” index, which excludes the volatile prices for food and energy, is expected to have risen 2.4% over the year, down from a 2.5% increase in July, but well above the Federal Reserve’s target of a 2% annual increase.

Friday’s report is especially important for financial markets because it could determine whether the Federal Reserve raises its key interest rate at its next meeting next week. Members of the Federal Open Market Committee have been weighing whether to raise the federal funds rate by a quarter point, putting upward pressure on interest rates for mortgages and other loans in an effort to quash inflation.

“August’s CPI report has become very consequential after many FOMC members have signaled they will vote to tighten policy next week in the absence of further progress toward the 2% target,” Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics, wrote in a commentary.

What This Means For The Economy

A higher-than-expected inflation report would heavily pressure the Federal Reserve to raise interest rates, which would push up borrowing costs on all kinds of loans throughout the economy.

Forecasters expect higher fuel prices stemming from the war in Iran to push up the overall inflation index, with a smaller increase in core prices because major expense categories such as housing are accelerating at a slower rate.

Economists at Goldman Sachs, for instance, anticipate modest price increases in most core categories other than used cars and air fares. Other forecasters had similar outlooks.

“All told, we expect the report to show that while headline inflation remains influenced by the ebbs and flows of the conflict in the Middle East, core inflation remains contained,” economists at Wells Fargo Securities, led by Tom Porcelli, wrote in a commentary.

As of Thursday, financial markets were bracing for a rate hike. Traders were pricing in a 73% chance of a quarter-point rate hike next week, according to the CME Group’s FedWatch tool, which forecasts rate movements based on fed funds futures trading data. 

“A hotter-than-expected reading would strengthen the case for a hike and add further pressure on mortgage rates,” Anthony Smith, senior economist at Realtor.com, wrote in a commentary. “A cooler one could offer some relief.”

Shares of Cooper Cos. plummeted Thursday.
Credit: Spencer Platt / Getty Images

KEY TAKEAWAYS

• Cooper Cos. shares dropped after the company issued a weaker-than-expected fiscal Q4 outlook.
• The company’s Q3 revenue missed estimates, while adjusted earnings per share narrowly beat expectations.

Shares of Cooper Cos. are pacing the S&P 500’s decliners Thursday after the maker of medical devices reported mixed results, issued soft guidance and wrapped up a strategic review without plans to seek a deal.

Cooper (COO) shares were recently down more than 13%. The San Ramon, Calif.-based firm late yesterday said it sees fiscal Q4 adjusted earnings per share of $1.05 to $1.09 on revenue of $1.057 billion to $1.08 billion. Analysts surveyed by Visible Alpha were looking for $1.19 per share and $1.11 billion, respectively.

Cooper’s adjusted Q3 EPS of $1.15 topped estimates, but revenue of $1.07 billion came up short. On the earnings call Wednesday, White said the U.S. channel inventory reduction at its CooperVision unit has weighed on its performance, per an AlphaSense transcript.

CEO Albert White III said “proactively reduced U.S. channel inventory” weighed on the company’s fiscal third-quarter results and said the move “will continue to impact Q4.”

Cooper said its board had completed a strategic review announced last December, including a possible sale of its CooperSurgical unit, and “unanimously concluded that shareholders would be better served by continued ownership than by pursuing a transaction at this time.”

Cooper shares have lost more than a third of their value since the start of the year.

With Thursday’s slide, American Eagle shares have lost nearly half their value since the start of the year.
Credit: Scott Olson / Getty Images

Key Takeaways

• American Eagle shares tumbled Thursday after comparable sales growth missed expectations, driven by a decline at the retailer’s namesake stores.
• The company raised its profit forecast, but excluding a benefit from tariff refunds, it would have been lowered.

American Eagle Outfitters stock is tumbling after the retailer’s comparable sales came in short of estimates amid continued weakness at its namesake stores.

American Eagle (AEO) shares were down 15% to about $14 in recent trading. The retailer posted earnings per share of 79 cents on revenue of $1.38 billion in the second quarter, above analysts’ estimates, but its comparable sales growth missed. 

While comparable sales at Aerie jumped 19% from a year ago, sales at American Eagle’s namesake stores fell 1%, holding back growth. The company reported a 6% rise in comparable sales across its brands, below the consensus compiled by Visible Alpha.  

American Eagle lifted its full-year operating profit forecast to $540 million to $550 million from the prior range of $390 million to $410 million. Excluding a nearly $200 million benefit from tariff refunds, however, the new range would have represented a lowered forecast. 

During Wednesday’s earnings call, executives pointed to expectations of lower comparable sales and higher discounting at American Eagle’s namesake stores in the second half of the year.

UBS analysts trimmed their price target to $27 from $31 following the report, but said they are staying bullish on the stock in the long term. The analysts said they see Aerie as one of the “most underappreciated growth brands” in the industry, and suggested it could help carry American Eagle through near-term headwinds.

With Thursday’s slump, American Eagle shares have lost nearly half their value since the start of the year. 

News of the day for Sept. 10, 2026

Stocks fell for a third straight session on Wednesday as oil and Treasury yields continued their climb.
Credit: Spencer Platt / Getty Images

Stock futures are losing ground ahead of the release of key inflation data and tech earnings reports; crude oil prices and Treasury yields are each rising further thanks to persistent worries about the Iran war and inflation; the Producer Price Index is expected to show an acceleration in wholesale price inflation; Oracle and Adobe are set to report earnings this afternoon; and American Eagle shares are tumbling after a disappointing quarterly report. Here’s what you need to know today.

Stock Futures Slip After 3 Straight Losing Sessions

Stock futures are lower this morning as investors await important economic data and corporate earnings reports. Futures tied to the tech-heavy Nasdaq and the benchmark S&P 500 were recently down 0.7% and 0.2%, respectively, while Dow Jones Industrial Average futures hovered near unchanged. All three indexes closed lower yesterday, losing ground for the third consecutive session, as oil prices and bond yields rose. The yield on the 10-year Treasury was at 4.88% recently, up from yesterday’s close of 4.84% and trading at its highest level in nearly three years. WTI crude oil futures, the U.S. benchmark, were up more than 3% at nearly $99 per barrel, their highest level since May. Gold futures were down 1% at $4,415 an ounce, while bitcoin traded at $77,800, down from yesterday’s high of $79,700.

Oil Prices, Bond Yields Continue Surging

The recent slump for U.S. stocks has coincided with a rise in oil prices and bond yields, both of which extended their increases this morning. Brent crude oil futures, the global oil benchmark, were up 2% at $103 per barrel recently, their highest point since May. Attacks across the Middle East in recent days have reignited fears about the stability of the global oil supply chain. President Trump told reporters yesterday that he thinks oil prices will come down after the midterm elections in November, saying Iran is “desperate to try and affect the election” by hurting Republicans with high prices. Treasury yields, meanwhile, surged yesterday after the Treasury Department announced it would purchase $6 billion in long-term bonds today, triple the size of recent buybacks. Yields on the 10-year Treasury, which are at their highest levels since October 2023, have a direct impact on interest rates charged on all sorts of consumer loans.

Key Inflation Data Comes Ahead of Fed Meeting

Investors will get the first of two big inflation reports this morning, with the Producer Price Index for August set to be released at 8:30 a.m. ET, ahead of tomorrow’s Consumer Price Index report. Economists expect the PPI to show that wholesale prices rose 5.3% in the 12 months ending in August, up from 4.7% in July. Businesses are facing record high diesel prices in much of the country after the recent surge in oil prices, along with the recent escalation of tariffs between the U.S. and Canada. This week’s inflation reports are the last key pieces of data ahead of the Federal Reserve’s policy meeting next week. Market participants are pricing in a likelihood that the Fed will raise its benchmark interest rate as inflation remains well above the central bank’s target.

Oracle, Adobe Earnings Due This Afternoon

Tech investors are bracing for the latest results from cloud computing giant Oracle (ORCL). The company is expected to report fiscal first-quarter revenue of $19.06 billion, up 28% year-over-year, along with adjusted earnings of $1.74 per share, up from $1.47 a year ago. Oracle shares have lost about half their value since hitting a record high a year ago, as concerns about the pace and sustainability of its data center buildout and its reliance on a few major customers such as OpenAI have weighed on investor sentiment. Photoshop maker Adobe (ADBE) is also set to report fiscal third quarter results this afternoon, days after announcing that president of customer experience orchestration Anil Chakravarthy will become CEO at the start of December. Oracle and Adobe shares were down about 1% in recent premarket trading.

American Eagle Stock Drops on Disappointing Sales

Shares of American Eagle Outfitters (AEO) are tumbling this morning after the clothing retailer posted second-quarter results. The company said that comparable sales growth came in at 6%, short of the 6.6% analysts had been expecting. American Eagle lifted its full-year operating profit forecast to $540 million-$550 million, but Wall Street may have been looking for a bigger bump after the company recorded a benefit of nearly $200 million in tariff refunds in the quarter. Earnings for the second quarter came in at 79 cents per share, more than triple what analysts had expected, while revenue of $1.38 billion narrowly topped estimates. Shares were down 15% ahead of the opening bell.