The markets hit record highs to close the week as tech stocks were the leaders to close out the week. The Dow 30 was higher by 64, the S&P 500 added 4, and the Nasdaq 100 gained 19 on the day. Next week begins with some housing numbers along with building permits on Tuesday which can be a market mover.
Oracle (ORCL ) was one of the main stocks in focus today as the company announced that it had beat Wall Street estimates on both earnings and revenue for its prior quarter. They announced that they had adjusted earnings per share of 62 cents on revenue of $9.2 billion. Analysts consensus was for 60 cents a share and $9.02 billion in revenue. Initially the stock shot higher on the news but after the company issued weaker than expected guidance going forward shares sold off 7.82% on the day. For the year shares are still higher by over 25%.
Apple (AAPL ) shares were higher by 1.01% today as consumers can now pre-order some of the products Apple rolled out at its annual iPhone event earlier this week. According to their website, the iPhone 8, iPhone 8 Plus, and Apple Watch Series 3 are available for order and expected to ship September 22. The real focus will be on the pre-orders of the high priced, iPhone X which will begin October 27.
Nvidia (NVDA ) shot higher by 6.32%, making new highs in the process after Evercore ISI upgraded the stock, and raised their price target. According to their note, the new price target for the stock is $250, up from $180. CNBC noted that this is now the highest price target of any analyst firm on the street. Shares of Nvidia closed at highs and are now higher by over 70% on the year.