Wins In Cloud Related Business Driving Shares of Oracle (ORCL) and Fusion (FSNN), GoPro Surges!
Oracle (ORCL) shares surged to a new 52-week high as it beat Q3 estimates shouldered on its significant growth in its high margin (65%) cloud related business. ORCL’s cloud business was confirmed in at $1.2 billion for Q3 and is now clicking along at a $5 billion run rate.
Also, shares of fast growing and acquisitive cloud services provider Fusion (NasdaqCM: FSNN) have once again been moving up. Today’s intraday trading high was $2.02 while the closing price was $1.87 up +.54% after having having recently secured another win. The win was announced recently as a three-year, $725,000 cloud solutions contract with an international technology staffing and services firm. The company cited Fusion’s single source solutions and robust, geo-redundant national cloud access network for its selection. learn more about Fusion at Vista Partners’ company page.
Shares of GoPro surged on announcement of of 270 job cuts and upbeat outlook!