Oracle Stock Slides Monday: What's Driving the Action?
Oracle Corp (NYSE: ORCL ) shares are falling Monday along with other software stocks as rising oil prices and Treasury yields weigh on broader market sentiment. Oracle shares are experiencing downward pressure. Why is ORCL stock trading lower? Rising Oil Prices and Yields Pressure Growth Stocks Broader macro pressure is weighing on Oracle stock to start the week. Brent crude climbed toward $108 a barrel after Iran refused to soften its demands around reopening the Strait of Hormuz, while President Donald Trump sent mixed signals on the prospect of further talks. Treasury yields sold off across the curve in response, with the five-year rising 7 basis points to 5.06% as traders added to bets on further rate hikes ahead of Wednesday’s PCE inflation reading. That report will provide the first reading of the Fed’s preferred inflation measure since September’s rate hike, after core PCE rose 3.3% year-over-year through July. Nasdaq 100 futures dropped 1% as the moves in oil and yields weighed on growth-oriented stocks broadly, including software names like Oracle. Renewed PeopleSoft Hacking Activity Adds to the Pressure Oracle is also facing company-specific pressure after Google’s Mandia
Oracle Corp (NYSE: ORCL ) shares are falling Monday along with other software stocks as rising oil prices and Treasury yields weigh on broader market sentiment. Oracle shares are experiencing downward pressure. Why is ORCL stock trading lower? Rising Oil Prices and Yields Pressure Growth Stocks Broader macro pressure is weighing on Oracle stock to start the week.
Brent crude climbed toward $108 a barrel after Iran refused to soften its demands around reopening the Strait of Hormuz, while President Donald Trump sent mixed signals on the prospect of further talks. 06% as traders added to bets on further rate hikes ahead of Wednesday’s PCE inflation reading. 3% year-over-year through July. Nasdaq 100 futures dropped 1% as the moves in oil and yields weighed on growth-oriented stocks broadly, including software names like Oracle.
Renewed PeopleSoft Hacking Activity Adds to the Pressure Oracle is also facing company-specific pressure after Google’s Mandiant unit flagged that hacking group ShinyHunters has renewed large-scale attacks on Oracle’s PeopleSoft platform, This round is reportedly aimed at organizations that updated their firewall rules but never actually installed Oracle’s fix for the underlying flaw. The activity has reached dozens of systems worldwide, coming just days after ShinyHunters claimed to have stolen FBI personnel data through a separate PeopleSoft flaw. The FBI said it’s “aggressively investigating” the reported breach.
Oracle Is Underperforming a Middling Technology Sector Against that macro backdrop, Oracle’s own sector standing looks weak too. 82%. 17% over the past 90 days. Today’s sector leadership is concentrated in defensive and commodity-linked areas, including Energy, Healthcare and Consumer Staples, while Communication Services and Consumer Discretionary lag behind, pointing to softer risk appetite across growth-sensitive parts of the market.
Zooming out, today’s decline adds to a rough stretch for the stock more broadly. 8% over the past week and has faced broad selling pressure over the past month. 31 at the time of publication on Monday, according to Pro. Read Also: Oracle, Meta Financing Methods Mirror Enron Era, Steve Eisman Says Image: Piotr Swat/Shutterstock